which of the following is a correct statement regarding tenancyby the entirety?
A.
Tenancy by the entirety must be created by express words.
B.
Tenancy by the entirety is also known as tenancy in common.
C.
Tenancy by the entirety may be created either expressly orimplicitly.
D.
Tenancy by the entirety is also known as joint tenancy.
E.
Tenancy by the entirety can be used by any cohabitatingcouple.
which of the following is a correct statement regarding tenancyby the entirety?
A.
Tenancy by the entirety must be created by express words.
B.
Tenancy by the entirety is also known as tenancy in common.
C.
Tenancy by the entirety may be created either expressly orimplicitly.
D.
Tenancy by the entirety is also known as joint tenancy.
E.
Tenancy by the entirety can be used by any cohabitatingcouple.
Related questions
Using the Score Financial Projections Template (See Below) analyze the pictures in their entirety for any aspects that may not be obvious to the common financial statement user. Explain each of these areas of possible confusion. Also,Please provide assumptions regarding financial statement content at the end of the first fiscal year. The spreadsheet did not show up on word like I wanted it to. If the person looking at this would like a copy of the excel spreadsheet I would be happy to send it to them.
| Balance Sheet Years 1-3 | |||
| Prepared By: | Company Name: | ||
| Owner | Company 1 | ||
| ASSETS | 2017 | 2018 | 2019 |
| Current Assets | |||
| Cash | 1,310,816 | 1,969,222 | 2,684,686 |
| Accounts Receivable | 155,892 | 155,892 | 155,892 |
| Inventory | 59,323 | 118,299 | 188,091 |
| Prepaid Expenses | 29,796 | 14,898 | - |
| Other Initial Costs | 1,333 | 667 | - |
| Total Current Assets | $ 1,557,161 | $ 2,258,978 | $ 3,028,669 |
| Fixed Assets | |||
| Real Estate -- Land | - | - | - |
| Real Estate -- Buildings | 48,000 | 48,000 | 48,000 |
| Leasehold Improvements | 20,000 | 20,000 | 20,000 |
| Equipment | 10,500 | 10,500 | 10,500 |
| Furniture and Fixtures | 30,000 | 30,000 | 30,000 |
| Vehicles | 12,000 | 12,000 | 12,000 |
| Other | - | - | - |
| Total Fixed Assets | $ 120,500 | $ 120,500 | $ 120,500 |
| (Less Accumulated Depreciation) | $ 12,564 | $ 27,721 | $ 42,879 |
| Total Assets | $ 1,665,096 | $ 2,351,756 | $ 3,106,290 |
| LIABILITIES & EQUITY | |||
| Liabilities | |||
| Accounts Payable | (568,392) | (568,392) | (568,392) |
| Commercial Loan Balance | 26,777 | 23,252 | 19,396 |
| Commercial Mortgage Balance | - | - | - |
| Credit Card Debt Balance | - | - | - |
| Vehicle Loans Balance | - | - | - |
| Other Bank Debt Balance | - | - | - |
| Line of Credit Balance | (15,680) | (39,374) | (63,068) |
| Total Liabilities | $ (557,294) | $ (584,513) | $ (612,063) |
| Equity | |||
| Common Stock | 84,694 | 84,694 | 84,694 |
| Retained Earnings | 2,260,940 | 3,098,062 | 4,003,389 |
| Dividends Dispersed/Owners Draw | 123,243 | 246,486 | 369,729 |
| Total Equity | $ 2,222,391 | $ 2,936,270 | $ 3,718,354 |
| Total Liabilities and Equity | $ 1,665,096 | $ 2,351,756 | $ 3,106,290 |
| Balance sheet in or out of balance? | $ - | $ - | $ - |
| Balanced! | Balanced! | Balanced! |
