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- timed task, need help thanksMost of us have had experience renting. Share your experience. List two good things you have done in the past that were helpful to you when you were searching for and renting an apartment. Also, name two mistakes you have made or lessons you have learned in renting an apartment. If you have never rented an apartment, what are the four things you think are most important when finding and renting an apartment?Explain why you have never rented.lttps:/253A%252F%252Fblackboard.american.edu%2... 1 Saved He Required information [The following information applies to the questions displayed below.] Steve Pratt, who is single, purchased a home in Spokane, Washington, for $415,000. He moved into the home on February 1of year 1. He lived in the home as his primary residence until June 30 of year 5, when he sold the home for $767,500. (Leave no answer blank. Enter zero if applicable.) a. What amount of gain will Steve be required to recognize on the sale of the home? Recognized gain on sale
- Assume: You are a financial adviser and are approached by a married couple, Tom, and Rita Brown. Both are 71 years old and Australian citizens by birth. While they live in Melbourne, their only son who is financially independent lives in Canberra. The following information is an extract of data you gathered as part of the fact-finding exercise during an initial client consultation with them: The couple has approached you to find out if they are eligible for age pension. list of assets for the current financial year Assets Amounts Income Home (Principal Residence) $700,000.00 Home Contents and Cars $57,000.00 Investment Property- net rental income of $7,000 $255,000.00 17,000.00 Bank account- interest Rate of 2% 50,000.00 1,000.00 Shares Portfolio 341,000.00 11,935.00 You are required to provide calculations for the means test (asset and the Income test) and use this to suggest old age pension…Week 2Amandeep born in India and migrated to Australia. He lives in Australia permanently. He still holdsIndian passport. Amandeep works with the New Zealand Princess Cruises tours and most of theincome year is in New Zealand. He signed an employment contract for this position in the company’sAustralian office in Sydney. Amandeep has two kids that are living with his wife Sandeep in Sydney.Three years ago, Amandeep purchased a unit apartment in Sydney. Amandeep and his wife holdingdividend yielding shares in an Indian public company called Hindustan Unilever. Amandeep andSandeep have an Australian bank account as well. Amandeep’s employer pays his salary to this bankaccount every fortnight.Biannually Amandeep receives a holiday package from his employer, New Zealand Princess Cruisestours and he is using this package with his family traveling in Australia interstates or moves to India tovisit his in laws.Required:With reference to the relevant laws, discuss whether Amandeep is an…Aman has a big family. He has seven brothers and seven sisters. One of his brothers, Athif is not doing financially well. All of them help Athif with construction of his house and his daughters marriage. What virtues are they showing ? Choose correct answer a. Caring for weak b. Discipline c. Trust d. Teamwork
- When did Walt diedShaan and Anita are married and have two children, ages 8 and 10. Anita is a "nonworking" spouse who devotes all of her time to household activities. Estimate how much life insurance Shaan and Anita should carry. Insurance needProblem 19-36 (LO. 7) At the time of her death, Ariana held the following assets. Personal residence (title listed as "Ariana and Peter, tenants by the entirety with right of survivorship") Savings account (listed as "Ariana and Rex, joint tenants with right of survivorship") with funds provided by Rex Certificate of deposit (listed as "Ariana, payable on proof of death to Rex") with funds provided by Ariana Unimproved real estate (title listed as "Ariana and Rex, equal tenants in common") Insurance policy on Ariana's life, issued by Lavender Company (Ariana's estate is the designated beneficiary) Insurance policy on Ariana's life, Issued by Crimson Company (Rex is the designated beneficiary, but Ariana can change beneficiaries) Fair Market Value $900,000 40,000 100,000 500,000 300,000 400,000 Assuming that Peter and Rex survive Ariana, how much is included in Ariana's probate estate? Ariana's gross estate? (Refer to text Section 18-3a as needed.) Ariana's probate estate includes $…
- You have DR Checking and CR Misc Income. You realize it is not Misc Income but recieved from a donor. What is the entry made to redesignate the CR Misc Income as Ms. Smiths donation?Jeff and his girlfriend Amy want to go on a shopping spree for her birthday, however neither one of them had any money for this adventure. They both agreed that Jeff would go over to his father’s condo and take his credit card to fund this birthday celebration. Jeff went over to his father’s while his father was out, entered and took one of his credit cards. Once they obtained the card the first stop on this journey was to a local jewelry store where they bought a 15-carat diamond wing for her worth $5,000 and a diamond encrusted watch for him valued at $2,500 using the credit card. They then went to the coach store where they purchased a handbag and matching wallet for Amy for $4,500 using the credit card. They then had lunch where they spent $60 again paying for it with the credit card. They then went to a local liquor store where Jeff purchased two bottles of wine valued at $75 each. He paid for it with a personal check with the knowledge that he did not have sufficient funds in his…Adam is confused. He does not understand why rent on his apartment is a fixed cost and rent on a Hertz rental truck is a mixed cost. Explain the difference to Adam.