The answer is $0.00 (third option).
Explanation:
During the year of 2018, the annual exclusion of both federal and state tax to cash gifts was up to $15,000 per individual. <em>Annual exclusion</em> means that there's up to a certain amount of money that can be gifted without being taxable. In this case, John and Joan's cash gift falls within the limit.
When couples gift money to their family members, the limit is precisely $15,000 per relative, individually; meaning the can gift up to a total of $60,000 without being subject to gift tax.
Answer
Payroll Journal Entry
Explanation
A payroll entry is used to record the compensations paid to employees by the company. Payroll journal entries can be initial recordation, accrued wages or manual payments. This entry is prepared from the payroll register and it includes debits for labor, salaries and the firm’s fraction of payroll taxes.
Answer:
subrogation clause
Explanation:
The subrogation clause establishes an insurance company's rights to collect the money it paid for an event relating to an insurance contract from the individual or business that was responsible for the event which resulted in loss, injury or damage to the insured.
In this case, Joe's title company has the right to collect the funds from the seller since it already paid a compensation to Joe. The whole purpose of having insurance is that your financial position is not affected by an unexpected event, but it is not meant to provide a profit for the insured.
Answer:Raising the gas tax will likely encourage more non-highway related spending.
An increase in gas taxes will hurt middle-income Americans the most.
A gas tax hike will increase the price of consumer goods.
Tax hikes have a negative impact on economic growth.
Raising the gas tax will not solve the real problem.
Explanation:Lower gas price could add much as half a percentage point to the GDP growth in United States of America.
Answer:
The correct answer is option E.
Explanation:
The market for corn is assumed to be in equilibrium. Now, we know that corn is used as an input in biofuels. As the production of biofuels increases the demand for inputs will increase as well. An increase in the demand will cause the demand curve to shift. This will cause the price to increase.
An increase in the cost of production will cause a reduction in price. The change in equilibrium quantity depends on the degree of change in the supply. If the change in supply is equal to the change in demand, the equilibrium quantity will remain the same.
So, we need more information to say anything about the change in quantity.