User Account

All Pages

What gain or loss results to winkler corporation

Assignment Help Accounting Basics
Reference no: EM133187593

Question - Winkler Corporation has 1,000 shares of common stock outstanding owned as follows: Shisong, 500 shares and Iris (an unrelated party), 500 shares. Shisong and Iris each paid $100 per share for the Winkler stock 10 years ago. Winkler distributes land held as an investment (fair market value of $80,000, adjusted basis of $30,000) to Iris in redemption of 250 of her shares.

Required -

a. What are the tax results to Iris on the redemption of her Winkler stock?

b. What gain or loss results to Winkler Corporation on the redemption?

c. Assume that Winklers' s E & P is $170,000 after any required adjustment for the gain or loss on the land distribution but before any required adjustment for the stock redemption. What is the reduction in Winkler Corporation's E & Pas a result of the redemption?

Reference no: EM133187593

Questions Cloud

What does this mean for the fp-a in forecasting sales : What do you think of this argument? Can you provide an example to support your point of view? What does this mean for the FP-A in forecasting sales
Research routine business request examples : Go online and research routine business request examples. (An example may be a bill you receive or a request from a company you work with).
How much are your monthly? payments : If you buy a computer directly from the manufacturer for $3,006. How much are your monthly? payments
Make an assignment on any company covering points : Make an assignment on any company covering these points. you will review all of the topics Meaning, purpose, subjective wellbeing, character strength, positive
What gain or loss results to winkler corporation : Winkler Corporation has 1,000 shares of common stock outstanding owned as follows: Shisong, 500 shares. What gain or loss results to Winkler Corporation
What is the budgeted cash received from customers : Public Manufacturing Company (PMC) is preparing their budgeted financial statements for the coming year, What is the budgeted cash received from customers
How much will be paid to the common stockholders : A company has 240,000 shares of preferred stock, 8% cumulative, $100 par value. How much will be paid to the common stockholders
What is the direct labor rate variance : The following information is provided for Dexter, Inc.: Standard direct labor wage rate: $10/hour. What is the direct labor rate variance
What is jaroni break-even point in sales dollars : Total sales for previous period were $60,000. Wages, materials, and variable manufacturing overhead totaled $10,200. What is Jaroni break-even point in Sales

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd