Answer:
Puffin’s E & P after taking into account the distribution of the car is $6,000.
Explanation:
E & P will be decreased by the higher of the adjusted basis or the fair market value of the distributed property, net of any liabilities. The distribution losses will not be taken into consideration when determining E & P. Thus the current E & P of Puffin’s $30,000 is reduced by $24,000 ($30,000 basis of the car minus the liability amount). The remaining after the distribution current E & P will be $6,000.
Therefore, Puffin’s E & P after taking into account the distribution of the car is $6,000.
Answer:
A the MP curve shift up ,there is an upward movement along the IS curve
The correct answer is choice c - complete.
Terry is writing a letter to one of his important clients, being sure to include all of the information that the client will need in order to make their investment decision. This is demonstrating the profession characteristic of being complete.
Reveiwing the income and expenses and comparing from what you say you have to what the bank says you have.
Explanation:
The preparation of the selling and administrative expenses budget for the month of July is presented below:
Selling and administrative expenses Budget
For the month of July
Budgeted Sales unit 2,900 units (A)
Variable selling and administrative expenses per unit $3.90 (B)
Budgeted variable expenses $11,310 (C) = A × B
Budgeted fixed selling and administrative expense $30,340
Total budgeted selling and administrative expenses $41,650
Less: depreciation - $3,610
Cash disbursement for selling and administrative expenses $38,040
