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nevsk [136]
3 years ago
9

Todd irrevocably transfers property to a trust over which he retains an annuity payment each year equal to 6% of the initial fai

r market value of the property transferred to the trust. Todd designates the United Way as the remainder beneficiary. Which of the following statements concerning this transfer is true?
a. Todd can make an additional contribution to the trust in subsequent years.
b. Todd must inform the United Way of their right to the remainder of the trust s assets.
c. Todd will receive an income tax charitable deduction on his income tax return for the year in which the trust is formed.
d. The United Way can force Todd to transfer the present value of their interest to them immediately.
Business
1 answer:
evablogger [386]3 years ago
5 0

Answer: Todd can make an additional

contribution to the trust in subsequent year

Explanation:

He his at liberty to do this if willing.

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The Bensington Glass Company entered into a loan agreement with the​ firm's bank to finance the​ firm's working capital. The loa
klio [65]
<h2>Question:</h2>

As the data in incomplete, lets consider the data found on the net for the same question

DATE         LIBOR

week 1        1.98%

week 2       1.64%

week 3       1.54%

week 4       1.31%

week 5       1.57%

week 6       1.69%

week 7       1.66%

week 8       1.94%

week 9       1.92%

(This data in not given in the question. If some values differ from this data, just change the that value in the method below and you'll get your answer)

<h2></h2><h2>Answer:</h2>

Floating rate = 0.25%

Maximum rate = 2.24%

Minimum rate = 1.71%

General formula for for finding rate of interest of a week

Week Rate = Previous Week's Rate (LIBOR from table) + Floating Rate

Lets find the values:

Week 2 rate  = Week 1 rate + 0.25%   = 1.98% + 0.25% = 2.23%

Week 3 rate  = Week 2 rate + 0.25%  = 1.64% + 0.25% = 1.89%

Week 4 rate  = Week 3 rate + 0.25%  = 1.54% + 0.25% = 1.79%

Week 5 rate  = Week 4 rate + 0.25%  = 1.31% + 0.25% = 1.56%

Week 5 rate is lower than the minimum rate, rate of Week 5 can be taken as minimum rate

Week 5 rate = 1.71%

Week 6 rate  = Week 5 rate + 0.25%  = 1.57% + 0.25% = 1.82%

Week 7 rate  = Week 6 rate + 0.25%  = 1.69% + 0.25% = 1.94%

Week 8 rate  = Week 7 rate + 0.25%  = 1.66% + 0.25% = 1.91%

Week 9 rate  = Week 8 rate + 0.25%  = 1.94% + 0.25% = 2.19%

Week 10 rate = Week 9 rate + 0.25%  = 1.92% + 0.25% = 2.17%

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3 years ago
Starbucks is a global company that provides high-quality coffee products. Assume that as part of its expansion strategy, Starbuc
goldenfox [79]

No, there is not any requirement of recording when the fair value of bonds decreases to $6000000 on December 31 of the current year.

Given that Starbucks purchased bonds with $ 7 million face value at par for cash on July 1 of the current year and the bonds pay 7 percent interest the following June 30 and December 31 and mature in three years.

We are required to tell whether there is requirement of any recording when the fair value of bonds decreases to $6000000 on December 31 of the current year.

A bond is basically a debt security, similar to an IOU and borrowers issue bonds to raise money from investors willing to lend them money for a certain amount of time. When we buy a bond, we are lending to the issuer, which may be a government, municipality, or corporation.

There is not any requirement of any recording when the fair value decreases to $600000 because it is not affecting our books of accounts because in our books they are recorded at face values.

Hence there is not any requirement of recording when the fair value of bonds decreases to $6000000 on December 31 of the current year.

Learn more about bonds at brainly.com/question/25965295

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7 0
1 year ago
What's the difference between gross monthly income, and net monthly income? I'm filling out a loan application, and the applicat
frutty [35]
Your "gross monthly income" is the amount you make BEFORE they take out any deductions.
Your "gross monthly income" is the amount you make AFTER they take out any deductions. 
7 0
3 years ago
Through conscious repetition of information, we can encode information for long-term storage. this is known as _____.
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This is known as rehearsal.
5 0
3 years ago
Suppose the United States is currently producing 200 tons of hamburgers and 60 tons of tacos and Mexico is currently producing 4
4vir4ik [10]

Answer:

Explanation:

United States is producing 200 tons of hamburgers and 60 tons of tacos.

United States' opportunity cost for producing 1 ton of hamburgers

= \frac{60}{200}

= 0.3

United States' opportunity cost for producing 60 tons of tacos.

= \frac{200}{60}

= 3.33

So we see that US has a lower opportunity cost in producing hamburgers, so it has a comparative advantage in producing hamburgers.

Mexico is producing 40 tons of hamburgers and 50 tons of tacos.

Mexico's opportunity cost of producing a ton of hamburgers

= \frac{50}{40}

= 1.25

Mexico's opportunity cost of producing a ton of tacos

= \frac{40}{50}

= 0.8

So we see that Mexico has a lower opportunity cost in producing tacos, so it has a comparative advantage in making tacos.

Since US specializes in making hamburgers, it will produce 200 tons of hamburgers and 0 tons of tacos.

Mexico specializes in making tacos, it will produce 50 tons of tacos and 0 tons of hamburgers.

5 0
3 years ago
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