Business, 23.01.2020 07:31 laurencollett4838
Small company was liquidated in the current year by parent company, its sole shareholder. parent received the following assets on june 15 pursuant to the liquidation: basis to fair small market value cash $100,00o$100,000 accounts receivable 40,000 40,000 plant assets (net) 70,000 90,000 land (mortgage on land $40,000)90,000 110.000 total $300,00o$340,000 also pursuant to the liquidation, parent assumed the mortgage of $40,000 on the land. parent corporation's basis in small common stock is $205,00o. what are the amount and the character of the gain or loss parent must recognize from the liquidation? $95.000 capital gain. ke $135.000 capital gain. in $340.000 dividend
Answers: 1
Business, 21.06.2019 16:20
Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes
Answers: 3
Business, 21.06.2019 16:30
Which of the following is the least effective way to reach a potential sales prospect? referral cold call direct mail personal visit
Answers: 3
Business, 22.06.2019 12:50
Performance bicycle company makes steel and titanium handle bars for bicycles. it requires approximately 1 hour of labor to make one handle bar of either type. during the most recent accounting period, barr company made 7,700 steel bars and 2,300 titanium bars. setup costs amounted to $35,000. one batch of each type of bar was run each month. if a single company-wide overhead rate based on direct labor hours is used to allocate overhead costs to the two products, the amount of setup cost assigned to the steel bars will be:
Answers: 2
Business, 22.06.2019 19:50
Juan's investment portfolio was valued at $125,640 at the beginning of the year. during the year, juan received $603 in interest income and $298 in dividend income. juan also sold shares of stock and realized $1,459 in capital gains. juan's portfolio is valued at $142,608 at the end of the year. all income and realized gains were reinvested. no funds were contributed or withdrawn during the year. what is the amount of income juan must declare this year for income tax purposes?
Answers: 1
Small company was liquidated in the current year by parent company, its sole shareholder. parent rec...
Mathematics, 28.08.2019 01:00
Mathematics, 28.08.2019 01:00
Social Studies, 28.08.2019 01:00
Mathematics, 28.08.2019 01:00
Social Studies, 28.08.2019 01:00
History, 28.08.2019 01:00
Mathematics, 28.08.2019 01:00
Biology, 28.08.2019 01:00
History, 28.08.2019 01:00
History, 28.08.2019 01:00
Computers and Technology, 28.08.2019 01:00