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1. Kim had the following transactions for 2006:Salary: $48,000Damage award (compensatory) for city bus accident: $18,000Loss on sale of stock investment: $5,600Loan from father to purchase auto: $14,000Alimony paid to ex-wife: $8,000What is Kim's AGI for 2006?
2. John forms a corporation and transfers property having a basis to him of $18,000 and a fair market value of $26,000 to the corporation for 1,000 shares of $10 par stock. One year later, Hal transfers property having a basis to him of $2,500 and a fair market value of $3,500 for 100 shares of the stock. Hal is not related to John. The corporation issued no other stock.How much gain does John recognize on his exchange? What is the basis to John of his 1,000 shares?b. What gain or loss is recognized by the corporation when it issues its shares to John? What is the basis to the corporation of the property it received from John?c. How much gain does Hal recognize on his exchange? What is the basis to Hal of his 100 shares?
3. Shareholders in closely held C-corporations often pay themselves large salaries in order to avoid double taxation on corporate income.Briefly explain the double taxation problem and how paying large salaries to owners avoids it.b. Briefly discuss how the reasonable compensation issue applies to S-corporations.c. Briefly discuss the IRS s position on reasonable compensation for owner-employees of closely held C-corporations.
Explain how the Initial Public Offering (IPO) process works and its positive and negative aspects. Who benefits? How effective is the transfer of capital from savers to users (how much lost in the process)?
Assume the market portfolio is equally likely to increase by 30 percent or decrease by 10%. Compute the beta of a firm that goes up on average by 43 percent when the market goes up and goes down by 17% when the market goes down?
Classify the following events as mostly systematic or mostly unsystematic and tell us why. Is the distinction clear in each case?
Describre Capital Budgeting decision based on the capital structure and both firms expect EBIT to be $90,000. Ignore taxes
A project has a contribution margin of $5, projected fixed costs of $13,000, projected variable cost per unit of $12, Determine operating cash flow for the project.
Computation of Value of Bond and The coupon rate is 8% and the time to maturity is 20 years
Compute its cash conversion cycle, total assets turnover, and ROA have been if inventory turnover had been 7.3 for year?
Evaluate the present value of the generated cash flows and can you afford the new system
Computation of Price of the bonds and What is an estimate of the price of the annual coupon bond
If an employee receives the non-interest-bearing promissory note from his employer as compensation, how much income does that employee have to include in his income?
Critically evaluate these comments. Please don't wander; concentrate on the issues stated by quotation.
Calculate the value of security and Value the financial instrument below using excel functions
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