3. Problems and Applications Q3 Your uncle repays a $350 loan from Tenth National Bank (TNB) by writing a $350 check from his TNB checking account. Assume these funds are the only loans and deposits available for your uncle and the bank. Complete the following T-accounts for your uncle and TNB before your uncle repays the loan. Your Uncle Assets Liabilities $ $ Tenth National Bank Assets Liabilities $ $ Complete the following T-accounts for your uncle and TNB after your uncle repays the loan. Your Uncle Assets Liabilities $ $ Tenth National Bank Assets Liabilities $ $ True or False: Your uncle's wealth has changed. True False

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?

The year is 2278, and the starship enterprise is running low on dilithium crystals, which are used to regulate the matter-antimatter reactions that propel the ship across the universe. without the crystals, space-time travel is not possible. if there is only one known source of dilithium crystals, the necessary conditions for a monopoly are met. part 2 (1 point)see hint if the crystals are government owned or government regulated, and the government wants to create the greatest welfare for society, then it should set the price choose one or more: a. so only the rich can afford space-time travel. b. at the profit-maximizing price. c. at the efficient price. d. using the marginal-cost pricing rule. e. so everyone can afford space-time travel. f. at the monopoly price.

On june 3, teal company sold to chester company merchandise having a sale price of $2,600 with terms of 2/10, n/60, f. o.b. shipping point. an invoice totaling $91, terms n/30, was received by chester on june 8 from john booth transport service for the freight cost. on june 12, the company received a check for the balance due from chester company. prepare journal entries on the teal company books to record all the events noted above under each of the following bases. (1) sales and receivables are entered at gross selling price. (2) sales and receivables are entered at net of cash discounts.