comprehensive illustrative problem:Mira's store on February 1 20A4 Mica Delaman opened astore that sells school supplies her main customer are the students and teachers of happy students school that is situated in front of her store. Mira wanted to know the financial position of Mira's store. Mira knew you were studying accounting. so she asked for help. 1. To start her business Mira's opened a checking account in the name of Mira's store . the statement of account from the bank shows that the checking account has a balance of 31,535 of December 31,20A4

Agovernment receives a gift of cash and investments with a fair value of $200,000. the donor specified that the earnings from the gift must be used to beautify city-owned parks and the principal must be re-invested. the $200,000 gift should be accounted for in which of the following funds? a) general fund b) private-purpose trust fund c) agency fund d) permanent fund

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?

Suppose an investor starts with a portfolio consisting of one randomly selected stock. as more and more randomly selected stocks are added to the portfolio, what happens to the portfolio's risk