Bob and Carol have been in and out of marital counseling for the past few years. Early in the current tax year, they decide to separate. However, because they are barely able to get by on their current incomesthey cannot afford separate housing or the legal costs of a divorce. So Bob moves out of their house in March and takes up residence in their detached garage (which has an enclosed workshop and bathroom). Carol stays in the house with their two children and pays more than half of the costs of maintaining their residence. Bob does not enter the house for the remainder of the year. Can Carol qualify as an abandoned spouse when filing her Federal income tax return for the year?

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale. required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse. b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this. c. explain the difference between sale of receivables with recourse as oppose to without recourse.