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Ben transferred property to his newly formed corporation, BCD Inc. The property had an adjusted basis to Ben of $40,000 and a fair market value of $50,000 on the date of the transfer. On the same day, and in exchange for the property that he transferred to BCD Inc., Ben received a payment of $15,000 and 100 percent of BCD Inc.'s only class of stock. The stock had a fair market value of $35,000. How much gain was recognized by Ben as a result of this transaction?
Which approach do you favor from (1) a customer's perspective and (2) management's perspective? Explain.
John's car was completely destroyed by fire in 2010. Its cost and fair market value were $8,000. John's claim against insurance was $3,000 and was NOT made until 2011. The following year, 2011, John settled with the insurance company for $2,000. W..
on 31st march 2009 the total assets and external liabilities were 200000 and 6000 respectively. during the year the
youve just been hired onto abc company as the corporate controller. abc company is a manufacturing firm that
spring waters inc. produces bottled drinks. the new york division acquires the water adds carbonation and sells it in
the general ledger account for accounts receivable shows a debit balance of 40000. the allowance for uncollectible
small motors inc which is currently operating at full capacity has sales of 29000 current assets of 1600 current
explain the logic behind how mrps gross-to-net calculations are processed. what input files are included in this
retail method.olivias dress shop had net retail sales of 125000 during the current year. the following additional
Dalton Construction Co. contracted to build a bridge for $5,000,000. Construction began in 2010 and was completed in 2011. Data relating to the construction are:
Brannon company manufactures ceiling fans and uses an activity-based costing system. Each ceiling fan consists of 20 separate parts totaling $95 in direct materials, and requires 2.5 hours of machine time produce. What is the cost of machining per..
Depreciation expense was $44,000. Prepare the cash flows from operating activities section of the statement of cash flows.
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