Solve the following given involving proportion. A father wants to leave P780,000 to his four children in the ratio of 2:3:3:2. How much will each of the four children recieve.
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- For each of the following, determine the amount that should be included in gross income: a. Peyton was selected the most valuable player in the Super Bowl. In recognition of this, he was awarded an automobile with a value of 60,000. Peyton did not need the automobile, so he asked that the title be put in his parents names. b. Jacob was awarded the Nobel Peace Prize. When he was presented the check for 1,400,000, Jacob said, I do not need the money. Give it to the United Nations to use toward the goal of world peace. c. Linda won the Craig County Fair beauty pageant. She received a 10,000 scholarship that paid her 6,000 for tuition and 4,000 for meals and housing for the academic year.Chandelle and Treymane are married and have a combined AGI of $215,000. They would like to contribute to a Coverdell Education Savings Account for their grandson. What is the maximum contribution they can make in 2019? $1,667. $333. $0. $2,000.A woman was bequeathed a trust fund that pays $50,000 per year to her and to herdescendants forever. If the trust fund earns 3.5% interest, what is the amount of the trust fund?
- Mina, who is single, would like to contribute $6,000 to her Roth IRA. Her AGI is $130,000. What is the maximum amount that Mina can contribute? Show your answer in Microsoft Excel.Meredith, who is single, would like to contribute $6,000 to her Roth IRA. What is the maximum amount that Meredith can contribute if her AGI is $123,400? If required, round any division to four decimal places and round your final answer to the nearest dollar. What is the maximum amount that Meredith can contribute?Eli wants each of his children to receive $1000000as an inheritance if he dies.this is a part of? a)family equalisation.b)financial plannng.c)estate planning.d)risk sharing
- In 2020, Bongbong Jr. created two (2) trusts for his minor son, Chiz. During the year, the two trusts earned net income as follows: Trust 1: P4,000,000 Trust 2: P6,000,000 How much is the income tax due of Trust 1? Nil P1,244,000 P1,266,000 P1,263,440In 2020, Bongbong Jr. created two (2) trusts for his minor son, Chiz. During the year, the two trusts earned net income as follows: Trust 1: P4,000,000 Trust 2: P6,000,000 How much is the income tax due of Trust 2? P1,866,000 P1,895,160 P1,899,000 P1,891,320Marcus is 54 and single. He would like to make the maximum Roth IRA contribution in 2022. He is an active participant in ABC Corp.'s profit sharing plan, and his AGI is $130,500. What is his maximum Roth IRA contribution? A) $7,000 B) $5,000 C) $6,300 D) $6,000 Give typing answer with explanation and conclusion
- At the birth of his daughter, Mr Lucas Dalitso Zulu invested K10,000 at 6% p.a.compounded annually. What amount would accrue to her if she left the moneyinvested until she attained the age of: (i) 18 years; (ii) 21 years; (iii) 40 years; and (iv)60 years?Moe and Pearl are married, file a joint return, and have two dependent children, ages 11 and 13. Their AGI is $417,000. By how much is their child tax credit reduced in 2020? a. $4,000 b. $3,150 c. $1,150 d. $0 e. $850Phillip and Naydeen Rivers are married with two dependent children. The family has household income of $41,200 in 2022. They paid $11,000 for health care for the year through the health care exchange. A designated silver plan would have cost $9,800, and the poverty level for a family of four is $26,500. The applicable percentage is 0.24 percent. What is the Rivers' premium tax credit? a. $9,701 b. $2,352 c. $505 d. $7,909
