Reference no: EM131211191
Life Estate and Remainder Baudilio Bowles died testate. His will devised to his sister, Julianita B. Vigil, “one-half of any income, rents, or profits from any real property located in Bull Creek or Colonias, New Mexico.” The will contained another clause that left to his children “my interest in any real property owned by me at the time of my death, located in Bull Creek and/or Colonias, San Miguel County.” The property referred to in both devises was the same property. Julianita died before the will was probated. Her heirs claimed a one-half ownership interest in the real property. Bowles’s children asserted that they owned all his property. Who wins? In the Matter of the Estate of Bowles, 107 N.M. 739, 764 P.2d 510, Web 1988 N.M.App. Lexis 93 (Court of Appeals of New Mexico) Let's test the implied warranty of habitability. Take a look at problem 49.2. Do you think Love's termination of the lease was lawful?
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Stock-option plan-prepare the necessary journal entries
: Berg Company adopted a stock-option plan on November 30, 2013, that provided that 75,400 shares of $5 par value stock be designated as available for the granting of options to officers of the corporation at a price of $10 a share. Prepare the necessa..
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Calculate free cash flow
: Canwest Global Communications Corp. reported cash used by operating activities of $104,539,000 and revenues of $2,867,459,000 during 2009. Cash spent on plant asset additions during the year was $79,330,000. Calculate free cash flow.
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Respect to absorption costing and variable costing
: If there are no units in finished goods ending inventory and cost of goods manufactured is less than cost of goods sold, then there must be units in: If production exceeds sales, the net income with respect to absorption costing and variable costing.
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As production levels increase the variable cost per unit
: For capital budgeting purposes, an asset's depreciable life is. As production levels increase the variable cost per unit:
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Termination of the lease was lawful
: Life Estate and Remainder Baudilio Bowles died testate. His will devised to his sister, Julianita B. Vigil, “one-half of any income, rents, or profits from any real property located in Bull Creek or Colonias, New Mexico.” Do you think Love's terminat..
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Annuity earnings-what will future value of his account equal
: Annuity Earnings: Sam is saving money in an annuity and is earning 5% annual interest compounded annually. If he deposits $2,500 in the account each year for 10 years, what will the future value of his account equal? How much interest will he have ea..
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Firm using departmental overhead rate has four departments
: A firm using a departmental overhead rate has four departments with the following overhead amounts: $400,000, $600,000, $200,000, and $400,000. The same departments respectively have the following annual labor-hours totals: 60,000, 80,000, 40,000, an..
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Low-volume production wells owned by individuals
: Petro-Chem Inc. is a small company that acquires high-grade crude oil from low-volume production wells owned by individuals and small partnerships. The crude oil is processed in a single refinery into Two Oil, Six Oil, and impure distillates. The por..
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Liquid skin on a physical-quantity basis
: Killian Company manufactures two skin care lotions, Liquid Skin and Silken Skin, out of a joint process. If additional processing costs beyond the split-off point are $1.40 per gallon for Liquid Skin and $.90 per gallon for Silken Skin, the amount of..
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