A corporation with common stock outstanding declares a nontaxable dividend payable in rights to subscribe to common stock on June 30 of the current year. Each right entitles the holder to purchase one share of stock for $90. One right is issued for every share of stock owned. Nexsen owns 100 shares of stock purchased ten years ago for $4,500. At the time of the distribution of the rights, the market value of the common stock is $135 per share, and the market value of the rights is $18 per right. Nexsen receives 100 rights. On September 30, he exercises 75 of the rights and sells the remaining 25 rights for $22 per right. If required, round your answers to two decimal places.

If Nexsen does not allocate his original stock basis to the rights, his basis of the new stock is $ . The holding period of the new stock begins on the date . The sale of the rights produces capital gain of $

In most states, a licensee must provide a(n) of any existing agency relationships to all parties

The cutting department of cassel company has the following production and cost data for july. production costs 1. transferred out 12,300 units. beginning work in process $0 2. started 3,900 units that are 60% materials 62,856 complete as to conversion labor 12,622 costs and 100% complete as manufacturing overhead 23,100 to materials at july 31. materials are entered at the beginning of the process. conversion costs are incurred uniformly during the process. determine the equivalent units of production for (1) materials and (2) conversion costs. materials conversion costs total equivalent units of production link to text link to text compute unit costs. (round unit costs to 2 decimal places, e.g. 2.25.) materials $ conversion costs $ link to text link to text prepare a cost reconciliation schedule. (round unit costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 1,225.) cost reconciliation costs accounted for transferred out $ work in process, july 31 materials $ conversion costs total costs $

In a chapter 7 bankruptcy, a debtor: