In 2013 the couple sold their house for $500,000 and bought a new house for $700,000 in cash. When they sold their house they paid 6% to the real estate agent which in total was $30,000 in fees. They file jointly and had joint ownership of the sold property. Research Issue Is the sale of the home in 2013 made by Mr. Junkiewicz and his wife a taxable transaction? Law and Analysis The taxpayer relief act of 1997 exempted from taxation the profits on the sale of a personal residence of up to $500,000 for married couples filing jointly and $250,000 for singles.
The term ‘Eyewitness testimony’ (or ‘EWT’) refers to an area of research into the accuracy of memory concerning significant events, such as a crime or an accident, and the types of errors usually made in such situations. There are many theories relating to the accuracy of EWT, including the anxiety of the witness, the role of schemas, the use of leading questions, the effects of misleading information and the use of the Cognitive Interview. All these aspects can contribute to or detract from the reliability of EWT, and I intend to outline and evaluate them in this essay. When dealing with EWT, it is important to consider the type of incident involved. Some incidents, such as violent crimes or serious accidents, are synonymous with high levels of anxiety, which can affect the memory encoded, thus affecting the accuracy of the testimony.
They frequently make legal decisions about wills, advanced directives, and durable powers of attorney. They may make choices about how to expend their limited time and energy. Some may want to reflect on the meaning of life, and some may decide to do a final life review or to deal with psychologically unfinished business. Some may want to participate in planning rituals before or after death. In some religious traditions, confession of sins, preparation to "meet one's maker," or asking forgiveness from those who may have been wronged can be part of end-of-life concerns.
Overview The lawsuit between Solo Cup Company (“Solo”) and Trigen-Cinergy Solutions (“Trigen”) arose out of an Energy Services Agreement and Equipment Lease that Solo entered into with Trigen to construct an 11.2-megawatt electricity co-generation plant at the Owings Mills facility. Solo was under the impression that by entering into this agreement, they would save at least $820,000 in energy costs annually, which was to be prepaid by Trigen and eventually paid back by Solo over 20 years. After Solo did analyses on the project, they discovered they would actually be losing money in the first year of the contract, and took action to sever the contract. Arbitration then took place to award damages to the rightful party. After extensive review of the relevant facts in this dispute, it has come to my attention that the loss contingency is incorrectly booked for Solo Cup Company.
Name:_______________ Part I Open-ended question (10 points; 20% of exam) ID:____________ For Quick Start the first month in business has ended. In the last days of December 2005, they already received contributed capital of € 6,000 and they obtained a five-year bank loan of € 24,000 at an annual rate of interest of 10 percent. Interest has to be paid each year on October 31. On December 31, 2005 various store equipment was purchased at a total cost of € 12,000, paid in cash. It is expected that the equipment has to be replaced after five years.
The plan is amended by the company, a move which causes a decrease in the projected benefit obligation. 23. The Aberdeen Company maintains a defined benefit pension plan for its employees. On January 1, Year Four, this pension plan is amended so that employees can retire at the age of 64 rather than 65. As a result of this decision, the projected benefit obligation on that date increases by $2 million.
Walston closes it books each year on December 31. a. Determine the balance in the Retained Earnings account as of December 31, 2011. b. Determine the balance in the Retained Earnings account as of January 1, 2012. c. Determine the balance in the Retained Earnings account as of January 31, 2012 Solution A. $4,600 - $2,000 - $700 = 1,900 B. The answer is $1,900 because when they closed on December 31 2011, their retained earnings was $1,900 and when they opened
Fraud investigations are often suggested in order to deem the performance prevalent and appropriate. The investigation must be performed with careful reasoning and consideration. One of the most important tactics of the investigation begins with the interview. The interview is critical as it is the initial facet of the investigation. According to Krancher, Riley & Wells, (2013), “Interviewing is the systematic questioning of a person who has knowledge of events, people, evidence, and other details surrounding a fraud or forensic accounting issue” (pg.
His business thrived for a few years before joining a group of investors. Tom Clancy and his first wife Wanda married in 1969, they separated in 1995, and permanently separated in December 1996. He had filed for divorce in November 1997, which became final in January 1999.
This, according to an article by Lawrence Korb, combined with the retirements of those active duty service members at 20 years of service, will add to the amount of veterans that have voluntarily left active service (Korb, 2012). In a study conducted in 2010 by the U.S. Census Bureau there were a total of 22,668,000 living veterans which would not account for the veterans that are now being added due to the cut. In Marine Corps Administration Messages, 371/12 and 480/12 details of selective early retirement and voluntary early release were used to either force retirements or give options