Methods used to redistribute income and wealth

A landowner conveyed his land to his wife, son, and daughter "as joint tenants with right of survivorship." The daughter then co

zepelin [54]

Answer:

The daughter and the son, unless the son does not pay his debt, which result in the lender owning interest to the land.

In this case the land was owned by three tenants, and the actions of one tenant may affect only their interest on the land, not the interest of the other tenants. Therefore the brother is still owner of the land unless he doesn't pay and the lender takes possession of joint tenancy of the land with the sister (or daughter to the deceased parents).

When the daughter conveyed her interest to a friend she only severed her own interest in the land, not the other tenants'. Since the friend and the wife stated in their will that the daughter was to inherit their share in the land, when they died the daughter regained ownership of the land (at least 2/3 ownership of the land).

At the end, the daughter will own 2/3 of the land and the son (or lender if he doesn't pay) will own the other 1/3 of the land.

4 0

4 years ago

Tript Corporation has a process costing system and uses the weighted-average method. The company had 3,000 units in work in proc

Alekssandra [29.7K]

Answer:

11,600 units

Explanation:

Equivalent units for conversion costs :

Equivalent units = 10,000 x 100 % + 4,000 x 40 % = 11,600

The equivalent units for February for conversion costs were: 11,600 units

6 0

3 years ago

Suppose the different income levels are as follows (N'billions) : Y=100,120,125,140,80,115,145,150,166,200. Calculate the corres

Zielflug [23.3K]

No you have a picture or something yes or ni

6 0

3 years ago

Giant company has two subsidiaries alpha and omega. both companies make identical computer printers information about the two su

madreJ [45]

We need the is as follows to know and answer the question sorry but can hellp unless the questions finished

5 0

3 years ago

Read 2 more answers

Gordon Chemicals Company acquires a delivery truck at a cost of $39,700 on January 1, 2017. The truck is expected to have a salv

Kipish [7]

Answer:

First Year depreciation is $18,750

Second Year depreciation is $ 9,375

Explanation:

Note that the Method used to provide for Depreciation is Declining Balance Method.

The established rate is used to compute depreciation on the remaining balance after taking account of previous depreciation charges.

Which is the appropriate rate to use?

The question gave us an assumption, "Assuming the declining-balance depreciation rate is double the straight-line rate"

So Working with this Assumption the Calculations are as follows

Straight Line Rate = 1/4×100 = 25%

Therefore Declining Balance Rate = 2×25%=50%

First Year depreciation is = Depreciable Amount ×Diminishing Rate

=($39,700-$2,200) ×50%

= $18,750

Second Year depreciation is = Carrying Amount × Diminishing Rate

=(($39,700-$2,200) - $18,750)×50%

= $ 9,375

Terms:

(1) Depreciable Amount is Cost less Salvage Value

(2)Carrying Amount is Cost less Accumulated depreciation to date

3 0

3 years ago

Methods used to redistribute income and wealth​

Methods used to redistribute income and wealth