Business, 16.10.2019 01:10 HSiddiqui5
Mark a calendar year taxpayer, purchased an annuity for $50,000 in 2012. the annuity was to pay him $3,000 on the first day of each year, beginning in 2012, for the remainder of his life. mark's life expectancy at the time he purchased the annuity was 20 years. in 2014 mark developed a deadly disease, and doctors estimated that he would live for no more than 24 months. a. if seth dies in 2015, a loss can be claimed on his final return for his unrecovered cost of the annuity. b. if seth dies in 2015, his returns for the two previous years can be amended to allocate the entire cost of the annuity to the years in which he received payments and reported gross income. c. if seth is still alive at the end of 2014, he is not required to recognize any gross income because of his terminal illness. d. if seth is still alive in 2034, his recovery of capital for that year is $500. e. none of these.
Answers: 2
Business, 22.06.2019 19:20, goofy44
Royal motor corp. generates a major portion of its revenues by manufacturing luxury sports cars. however, the company also derives an insignificant percent of its annual revenues by selling its sports merchandise that includes apparel, shoes, and other accessories under the same brand name. which of the following terms best describes royal motor corp.? a. aconglomerate b. a subsidiary c. adominant-businessfirm d. a single-business firm
Answers: 1
Business, 23.06.2019 13:10, makaylahunt
Liberty capital had seen its net income increase dramatically from the previous year, yet over the same period of time, its net cash provided from operations had decreased. which of the following would explain how this situation came about? liberty's expenditures on fixed assets had declined. liberty's depreciation and amortization expenses had declined. liberty's interest expense had increased. liberty's cost of goods sold had increased.
Answers: 2
Business, 23.06.2019 22:50, JazmineDavis5930
How does bad debt expense is reported on the income statement?
Answers: 1
Mark a calendar year taxpayer, purchased an annuity for $50,000 in 2012. the annuity was to pay him...
Mathematics, 13.04.2021 20:50
English, 13.04.2021 20:50
Chemistry, 13.04.2021 20:50