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Rudiy27
1 year ago
10

Grady is a member of a large family and received the following payments this year. For each payment, determine whether the payme

nt constitutes realized income and determine the amount of each payment Grady must include in his gross income. (Leave no answer blank. Enter zero if applicable.)
A gift of $60,000 of Ford Motor Bonds. Grady received the bonds on October 31, and he received $1,800 of semiannual interest from the bonds on December 31.
Business
1 answer:
tester [92]1 year ago
3 0

Answer:

Since Grady received the $60,000 gift, he does not owe any taxes on that transaction. When a gift is made, the receiving party pays no taxes, but the giving party has to pay taxes if it exceeds the $15,000 annual threshold or the  $11.4 million lifetime exclusion.

But Grady must include the interests that he earned from the bonds as part of his gross income ($1,800). Interests are taxed as ordinary income.

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The Tamarisk Heritage Centre (a not-for-profit organization providing language and arts and crafts programs for children) receiv
tatiyna

Answer:

48,939 patients

Explanation:

Breakeven quantity = fixed cost / price – variable cost per unit

$239,800 / ( $8.70 - $3.80) = 48,939 patients

4 0
2 years ago
The following are data for an economy in billions of dollars: Net rental income 141 Depreciation 1,241 Compensation of employees
Brilliant_brown [7]

Answer:

GDP= 9,872

Explanation:

The Expenditure Approach is a method of measuring GDP by calculating all spending throughout the economy including consumer consumption, investing, government spending, and net exports. This method calculates what a country produces, assuming that the finished goods and services of a country equals the amount spent in the country for that period.

The formula is:

GDP=C+I+G+/-NX

GDP: Gross Domestic Product

(C) consumer spending – this is the amount that all consumers spend on goods and services for personal use.

(I) investment – this is the amount that businesses or owners spend to invest in new equipment or expansions.

(G) government spending – this includes spending on new infrastructure like bridges and roads.

(NX) net exports – this includes spending on a country’s exports minus its spending on imports.

GDP= 6,728+1,767 +1,741+(1,102-1,466)

GDP= 9,872

7 0
2 years ago
Jessica is trying to get a credit card. She has a credit score of 790. How is Jessica’s lender likely to view this credit score?
Arisa [49]
<span>A.) Jessica is low risk and will pay her outstanding balances on time.</span>
3 0
2 years ago
Read 2 more answers
. Which statement in the given text points to George being an ethical leader? George had been working as a manager in a company
SIZIF [17.4K]

Answer:

His company had been going through a lot of transition in the past year because they wanted to improve their public image.

George made sure that the restaurant served all the dishes that were popular in the locality.

Explanation:

An "ethical leader" is concerned about the beliefs and values of people in the society. In order to adapt to locality, George has to consider the company's virtues by improving their public image. This will make their restaurants desirable. This can also be done if the restaurants will make sure <u>to know what the popular dishes are in the local area.</u> For example, if the people prefer "halal" food, then they'll be preparing halal foods as well. This is an ethical way of respecting the people's preference in the area.

So, this explains the answers.

6 0
2 years ago
Kiddy Toy Corporation needs to acquire the use of a machine to be used in its manufacturing process. The machine needed is manuf
xenn [34]

Answer:

Option A net worth  -215,906.03

Option B net worth  -210, 159.75

It is a better deal to use the machine through lease than purchase it as the net worth is lower.

Explanation:

Purchase the machine:

-164,000 purchase cost

PV of the maintenance cost

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C -9,000.00

time 10

rate 0.08

-9000 \times \frac{1-(1+0.08)^{-10} }{0.08} = PV\\

PV -$60,390.7326

PV of the salvage value

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity  14,000.00

time  10.00

rate  0.08000

\frac{14000}{(1 + 0.08)^{10} } = PV  

PV   6,484.7088

<em>net worth: </em>

-162,000 - 60,390.73 + 6,484.70 = -215,906.03

PV of the lease: (annuity-due)

C \times \frac{1-(1+r)^{-time} }{rate} (1+rate)= PV\\

C 29,000.00

time 10

rate 0.08

29000 \times \frac{1-(1+0.08)^{-10} }{0.08} (1+0.08) = PV\\

PV $210,159.7494

6 0
2 years ago
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