b. How much of the $30,000 distributed to Clare is included in her gross income? $ is included in her gross income.

c. The distributions which are composed of trust accounting income that is required to be distributed currently come under .

Answer:

**Answer:**

a)

Results for Renee are as follows:

After the first tier distributions ($60000/2 = $30000 to each income beneficiaries) are accounted for, $100000 DNI remains to be assigned to the beneficiaries on the second tier ($160000 DNI - $60000 DNI used for first tier distribution).

** Amount received DNI received = Gross income,**

portfolio income

First tier $30,000.00 $30,000.00

Second tier $1,20,000.00 $ 1,00,000.00

Total $1,50,000.00 $ 1,30,000.00

b)

Results for Clare are as follows:

** Amount received DNI received = Gross income,**

portfolio income

First tier $30,000.00 $ 30,000.00

Second tier $ - $ -

Total $30,000.00 $ 30,000.00

c)

The distributions which are composed of trust accounting income that is required to be distributed currently come under First Tier Distribution.

Aragon Company has just received the August 21, 2010 bank statement, which is summarized below. County National Bank Disbursements Receipts Balance Balance, August 1 $9,369 Deposits during August $32,200 41,569 Note Collected for depositor, including $40 interest 1,040 42,609 Checks cleared during August $34,500 8,109 Bank Service Charges 20 8,089 Balance, August 31 8,089 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 10,050 Disbursements for August 35,403 Receipts during August 35,000 Deposits in transit at August 31 are $3,800, and checks outstanding at August 31 total $1,550. Cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books at $146.50 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August. Instrustions: a. Preare a bank reconciliation dated August 31, 2010, proceeding to a correct balance. b. Prepare any entries necessary to make the books correct and complete. c. What amount of chas should be reported in the August 31 balance sheet?

Interest rates rise faster in Scotland (GBP) than they do in the United States (USD). Which nation’s currency appreciates? Which nation’s currency depreciates? How will the change in the value of the U.S. dollar impact the balance of trade in the United States? How will the change in the value of the British pound impact the balance of trade in Scotland?

Which 2 statements are correct about using the client details and dashboard screens of QuickBooks Online Accountant and working with client company files

Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,000 not due for three years. The interest rate on the note is 7%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)

Stark Company's most recent balance sheet reported total assets of $1.82 million, total liabilities of $0.84 million, and total equity of $0.98 million. Its Debt to equity ratio is:

Interest rates rise faster in Scotland (GBP) than they do in the United States (USD). Which nation’s currency appreciates? Which nation’s currency depreciates? How will the change in the value of the U.S. dollar impact the balance of trade in the United States? How will the change in the value of the British pound impact the balance of trade in Scotland?

Which 2 statements are correct about using the client details and dashboard screens of QuickBooks Online Accountant and working with client company files

Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,000 not due for three years. The interest rate on the note is 7%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)

Stark Company's most recent balance sheet reported total assets of $1.82 million, total liabilities of $0.84 million, and total equity of $0.98 million. Its Debt to equity ratio is:

b. $50,000

c. $75,000

d. $75,000

**Answer:**

Cost of hedging = $24,000

**Explanation:**

cost of hedging = 1,200,000 * ($0.80 - $0.82) = 1,200,000 * $0.02 = -$24,000

Since the actual forward rate was higher than th eexpected forward rte, the coampny lost money by hedging the operation. The cost of hedging the operation was $24,000.

**Answer:**

**B. The same output level as before.**

**Explanation:**

If there is a war broke out in a country and because of the war a large potion of the country's capital stock is destroyed but the thing that is unchanged is saving rate.

So according to the solow model the output will grow and the steady state that is new will be the same level of output as before.

**Answer:**

**a. Cash basis - amount is $3,600**

**b. Accrual basis - amount is $1,200**

**Explanation:**

**a.**

**Under the cash basis, the amount which will be recorded is as:**

**In cash basis**, it is the method or way of recording the accounting transactions for the revenue and the expenses only when the cash (corresponding) is received or when the payments are made.

So, in this **$3,600 is paid, the full amount will be recorded**.

**b.**

**Under Accrual basis, the amount which will be recorded as:**

**In Accrual basis, **it is the method or way of recording the accounting transactions for the revenue when it is earned and the expenses is recorded when it is incurred.

**So, in this the expense to be recorded for 2 months, it is computed as:**

**For per month** = $3,600 / 6

= $600 per month

**For 2 months, it is:**

= $600 × 2

**= $1,200 **

**Therefore, the amount is $1,200 for 2 months.**

b. You learn that Maxine’s current at-risk basis in her investment is $1,000 and that her share of the current loss is expected to be $13,000. Based on these facts, how will her loss be treated?

c. After reviewing her situation, Maxine’s financial adviser suggests that she invest at least an additional $12,000 in Teal to ensure a full loss deduction in the current year. How do you react to his suggestion?

d. What would you suggest Maxine consider as she attempts to maximize her current year deductible loss?

Answer:

Explanation:

a) What was the accountant referring to in his comment?

The accountant was referring to the fact that because passive activity losses can only offset passive activity income, she will not be able to deduct the losses in this year. However, she would be able to carry forward the loss to future years to offset any passive activity income generated in those years.

b) You learn that Maxine's current at-risk basis in her investment is $1,000 and that her share of the current loss is expected to be $13,000. Based on these facts, how will her loss be treated?

Based upon the fact that her basis in her investment is only $1000, her losses will be of that amount because of the at-risk limitation, which limits the taxpayer’s deduction by the amount “at risk”. If there is no passive activity income, this would be carried forward to when Maxine would dispose of her entire interest.

c) After reviewing her situation, Maxine's financial adviser suggests that she invest at least an additional $12,000 in Teal to ensure a full loss deduction in the current year. How do you react to his suggestion?

I believe that her financial adviser’s advice to Maxine is a good idea because if her current lossis expected to be $13,000, by contributing $12,000 in Teal, she would be able to deduct the full basis of $13,000 invested into the company. If there is no passive activity income, this would be carried forward to when Maxine would dispose of her entire interest in Teal.

d) What would you suggest Maxine consider as she attempts to maximize her current year deductible loss? She should consider the advice given to her by her accountant.

savings will grow at a rate of 2 percent per year indefinitely. The firm has a target

4.6 percent. The cost-saving proposal is somewhat riskier than the usual project the

firm undertakes; management uses the subjective approach and applies an adjustment factor of +3 percent to the cost of capital for such risky projects. Under what

circumstances should the company take on the project?

Mark Brainliest please

Sommer Inc is considering the new project, and yet we have to calculate under what circumstances the company have to take on the project. In order to assess the project, we need to compute the break-even cost such as the present value of future cash flows and calculate the WACC weighted cost of capital. It measures the weighted cost of equity and the after tax cost of debt. The following information are given: Debt to equity ratio = 0.90 Cost of equity = 13% After-tax cost of debt = 4.8% After-tax cost of savings = $2.7 million Debt to equity ratio = Debt / Equity = 0.90 Therefore, Value of firm = value of debt + value of equity Value of firm = 0.90E + E Value of firm

See the calculation of WACC as attachment

Sommer Inc is considering the new project, and yet we have to calculate under what circumstances the company have to take on the project. In order to assess the project, we need to compute the break-even cost such as the present value of future cash flows and calculate the WACC weighted cost of capital. It measures the weighted cost of equity and the after tax cost of debt. The following information are given: Debt to equity ratio = 0.90 Cost of equity = 13% After-tax cost of debt = 4.8% After-tax cost of savings = $2.7 million Debt to equity ratio = Debt / Equity = 0.90 Therefore, Value of firm = value of debt + value of equity Value of firm = 0.90E + E Value of firm

See the calculation of WACC as attachment

Average accounts receivable (net) 100,000

Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year.

a. Accounts receivable turnover.

b. Number of days' sales in receivables. _______ days

**Answer:**

**a. 15 times**

**b. 24.3 days **

**Explanation:**

The computations are shown below:

**a. Account receivable turnover ratio = Net credit sales ÷ Average accounts receivable**

= $1,500,000 ÷ $100,000

**= 15 times**

Now the Number of days' sales in receivables would be

**= Total number of days in a year ÷ Accounts receivable turnover ratio **

= 365 days ÷ 15 times

= **24.3 days **