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EleoNora [17]
2 years ago
15

Debbie and Chris are a married couple in California. When they purchase their first home together, they want to make sure that i

f one of them dies, the other will inherit ownership of the property. How should their ownership be recorded on the deed
Business
1 answer:
blsea [12.9K]2 years ago
8 0

The ownership on the deed has to be recorded as  a community property with right of survivorship.

<h3>What is a community property?</h3>

This is a property that is used to show that a married individuals assets. It is also referred to as a marital property regime.

Such are assets that were owned during the course of the marriage. Inheritance cannot be regarded as such.

Read more on community property here: brainly.com/question/13139218

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D.v.g. (a minor) was injured in a one-car auto accident in hoover, alabama. the vehicle was covered by an insurance policy issue
diamong [38]

Answer:

Yes, the court ruled in favor of D.V.G.'s mother, because of the principle that contracts entered by minors are not void, but voidable, and that they do have an effect on the parties, but if voided, they cannot be enforced.

In this case, the minor died before the contract was ratified by the court, but the minor hadn't voided the contract, so it was still good at the moment of his death. The minor had the chance of either approving or rejecting the contract while still living, and decided not to revoke it.

Explanation:

NATIONWIDE MUTUAL INSURANCE COMPANY and State Farm Mutual Automobile Insurance Company v. Barbara Walker WOOD, as administratrix of the estate of D.V.G., a minor, deceased, and K.C.T., a minor, by and through Earnest T., his father and next friend.  1111486. Decided: February 22, 2013

As this Court has stated, <em>“ ‘[i]t is well settled by the authorities that infants are not liable on any of their contracts, except for necessaries. With the exception, all other contracts of infants, whether executory or executed, may be avoided or ratified at the election of the infant.’ ”</em>

The final ruling was:

<em>"Under Alabama law, an insurance company is bound to a settlement agreement negotiated on behalf of an injured minor, even if that minor dies before the scheduling of the court hearing that all parties agreed was necessary to obtain approval of the settlement agreement. In accordance with the parties' understanding, such a hearing is still required, and the minor's death does not render that hearing impossible. We thus answer in the affirmative the question certified to this Court."</em>

6 0
3 years ago
A characteristic of a schedule of Accounts Receivable is that
Free_Kalibri [48]
D is the answer I believe
5 0
3 years ago
Read 2 more answers
Sigma Corporation owns 80% of the stock of Epsilon Corporation, which pays it a dividend of $100,000. Sigma Corporation also own
kvv77 [185]

Answer:

d. $132,000

Explanation:

Sigma Corporation holds the stock of Epsilon Corporation and is subsidiary for the Sigma. The dividend declared by of $100,000 is entirely for the sigma whereas Sigma Corporation also holds 20% of the shares of Intergalactic Corporation. The dividend of $40,000 will be calculated in the dividend amount of Sigma but 20% will be deducted.

$100,000 + $40,000 * 80% = $132,000

6 0
3 years ago
Tony and Suzie are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for e
eduard

Answer:

Great Adventures

a) Adjusting Entry for Uncollectible Accounts:

Date       General Journal              Debit        Credit

Jun. 30  Uncollectible Expense $2,320

              Allowance for Uncollectibles         $2,320

To provide 8% allowance for uncollectibles.

b) To accrue one month of interest on the note receivable:

Date        General Journal       Debit             Credit

Jun. 30   Interest Receivable  $40.83

              Interest on Notes                          $40.83

To accrue one month of interest.

c) GREAT ADVENTURES, INC.

Partial Balance Sheet  as at June 30, 2022

Assets

Current Assets:

Accounts Receivable                   $29,000

less allowance for uncollectibles    2,320

Net Accounts Receivable                             $26,680

Explanation:

a) Accounts Receivable

Date        Description                        Debit         Credit      Balance

Feb. 25   Kr. Kendall's Boys Scout   $4,000                       $4,000

Feb. 28   Cash                                                    $3,840            160

Feb. 28   Cash Discount                                          160               0

Mar. 19    Reynold                              5,000                          5,000

Mar. 27   Cash                                                     4,800            160

Mar. 27   Cash Discount                                       200                0

Apr. 7      Cash                                                     8,500      (8,500)

Apr. 14    Elks Lodge                         8,500                                 0

Apr. 30   Myers Manufacturing        7,000                          7,000

May 31    7% Note Receivable                            7,000               0

Jun. 15   MBA Groups                    29,000                       29,000

b) Allowance for uncollectibles = $29,000 x 8% = $2,320

c) Interest on Notes = ($7,000 x 7%)/12 = $40.83

3 0
3 years ago
West Virginia has one of the highest divorce rates in the nation with an annual rate of approximately 5 divorces per 1000 people
Alex17521 [72]

Answer:

a. Yes. It is a probability density function because \sum f(x) =1

. b. probability MCC will obtain more than 30 new clients=P(40)+P(50)+P(60)= 0.20+0.35+0.20=0.75

c. probability MCC will obtain fewer than 20 new clients= P(10)= 0.05

d.

x f(x) x*f(x) x*x*f(x)

10 0.05 0.5 5

20 0.1 2 40

30 0.1 3 90

40 0.2 8 320

50 0.35 17.5 875

60 0.2 12 720

1 43 2050

expected value = \sum xf(x) = 43

Variance = 2050-43^2= 201

Explanation:

8 0
3 years ago
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