Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Assume Shorttime Corporation (the "corporation") has been in existence for a short time and a minority shareholder who holds both voting and nonvoting common stock of the corporation tells you that she transferred to the corporation two shares of voting common stock in exchange for four shares of nonvoting common stock. You should assume that the total fair market value of the four shares of nonvoting common stock received by the shareholder (which is the same as the total fair market value of the two shares of voting common stock transferred to the corporation) is greater than the shareholder's basis in the voting common stock transferred to the corporation. The exchange was not pursuant to a plan of reorganization.
a. Was the gain realized by the shareholder on the exchange recognized by the shareholder? Yes or no, and why or why not?
b. Did the corporation recognize any gain as a result of the transaction?
Smelling Company declared a 2-for-1 stock split on its common stock in order to intentionally reduce the market value of its stock so that it would be an attractive investment for a larger set of investors.
If treasury bills are currently paying 7 percent and the inflation rate is 3.8 percent, what is the approximate real rate of interest? The exact real rate?
Kim owns 100% of the stock of Cardinal Corporation. In the current year Kim transfers an installment obligation, tax basis of $30,000 and fair market value of $200,000, for additional stock in Cardinal worth $200,000.
What information is provided in the statements that will assist you in making these business decisions? What information is not provided that could assist in managerial decision making?
What problems are associated with using the average cost per unit as a performance measure? What problems are associated with using the variable cost per unit as a performance measure?
Make journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases
1. Why is not taxable income used to determine if a distribution is a dividend? 2. What is the Dividend Received Deduction? Why do we have it?
As of December 31, 2010, Stand Still Industries had $2,500 of raw materials inventory. At the beginning of 2010, there was $2,000 of materials on hand. During the year, the company purchased $305,000 of materials;
Determine which expenses are mixed and, by use of the high low method, seperate each mixed expense into its variable and fixed components. state the cost formula for each mixed expense.
Assume you're bearish on Stock Y and decide to sell short 100 shares at the current market price of $30 per share. You earn no interest on the funds in your margin account and the cost of borrowing shares is 0.25%.
What is Howell's correct ending inventory balance at December 31, 2010?
On September 3, 2008, Jackson Corporation purchases goods for a U.S. dollar equivalent of $17,000 from a Swiss company. The transaction is denominated in Swiss francs (SFr). The payment is made on October 10.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd