Consider the following situations for shocker: on november 28, 2021, shocker receives a $2,700 payment from a customer for services to be rendered evenly over the next three months. deferred revenue is credited. on december 1, 2021, the company pays a local radio station $2,340 for 30 radio ads that were to be aired, 10 per month, throughout december, january, and february. prepaid advertising is debited. employee salaries for the month of december totaling $6,800 will be paid on january 7, 2022. on august 31, 2021, shocker borrows $58,000 from a local bank. a note is signed with principal and 9% interest to be paid on august 31, 2022. required : indicate by how much the assets, liabilities and stock holder's equity in december 31,2021, balance sheet is higher or lower if the adjustment is not recorded. (if none of the categories apply for particular item, leave it blank).

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate.the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received.c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.