Bonnie and Howard got divorced in 2018. Under the terms of the decree Bonnie will pay Howard $100,000 in cash in each of the next ten years (or until Howard's death or remarriage). In addition, Bonnie will transfer a residence worth $2,000,000 to Howard and pay $30,000 per year to support their daughter, Kristina, until she turns 19 years old. What amount (if any) is included in Howard's gross income this year?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Bonnie and Howard got divorced in 2018. Under the terms of the decree Bonnie will pay Howard $100,000 in cash in each of the next ten years ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
True or False. An increase in financial leverage generally results in a higher return on equity (ROE).
Answers (1)
A food truck is an example of which kind of distribution channel? a. E-commerce b. Over the counter c. Vending machine d. Street vendors
Answers (1)
According to comparative advantage, trade between two countries A) allows each of the trading countries to allocate its resources most efficiently. B) will benefit all the industries in each of the countries.
Answers (1)
The actions that cannot be taken as a result of an action that is taken are known as the __. of the action taken. A. price B. expense C. downside D. opportunity cost
Answers (1)
You are scheduled to receive a $490 cash flow in one year, a $790 cash flow in two years, and pay a $390 payment in three years. If interest rates are 8 percent per year, what is the combined present value of these cash flows? a. $890.00 b. $1,280.
Answers (1)
New Questions in Business
The following information describes a company's usage of direct labor in a recent period: Actual direct labor hours used 40 comma 000 Actual rate per hour $ 12.00 Standard rate per hour $ 11.
Answers (1)
As a result of the increase in malpractice insurance premiums, the concept of defensive medicine has been introduced which means that providers often order more tests and provide more services than necessary to protect themselves from malpractice
Answers (1)
Langhurst Company sold hardware for $12,000 cash and $18,000 of hardware to credit customers. Which of the following is the correct journal entry to record this transaction?
Answers (1)
Select either true or false for the following statements. 1. Relevant costs are also known as unavoidable costs 2. Incremental costs are also known as differential costs 3. An out-of-pocket cost requires a current and/or future outlay of cash. 4.
Answers (1)
According to Debra, the vice president of Theo Chocolate, the most important marketing vehicle the company has is: a. the fair trade certification. b. free product giveaways. c. tours of its factories. d. the unique varieties of chocolates it offers.
Answers (1)