Answer:
a. Glenda recognizes a $110,000 gain on the sale of her stock
Explanation:
Glenda receives 25% of the total distribution for the year. In determining the total distribution, the land is considered at its price value of $25,000 and not its basis value. Also, 25% of the current E & P is allocated to Glenda’s distribution. The entire accumulated current E and P balance of $10,000 is assigned to Glenda’s distribution. Therefore with the current E & P allocation, Glenda has a $15,000 dividend and a $10,000 reduction in stock basis. When the stock is sold, the gain = sales price – basis = $150000 - $40000 = $110000. The $50,000 basis is reduced by $10,000 basis recovery on distribution to become a basis of $40000. There is no accumulated E & P for Melissa, therefore her dividend = her share of the current E & P = 75% ×$20,000 = $15000
Forty eight hours after listening to a 10 minutes presentation the typical listener can recall 25% of the information presented. The average listener who hears a 10 minute presentation will will, understand and retain only half of what was said, but 48 hours later, it will drop to 25%.This is so because the major system focuses more on reading, writing and speaking skills instead of the listening skills.
Answer:
D: All of the above
Explanation:
D. All of the above may be considered an appropriate action depending on the type of violation and the sponsoring partner’s corrective actions.
Failure to comply with these standards could result in, but is not limited to, the following:
• Your removal from all VITA/TCE Programs;
• Inclusion in the IRS Volunteer Registry to bar future VITA/TCE activity indefinitely;
• Deactivation of your sponsoring partner’s site VITA/TCE EFIN (electronic filing ID number);
• Removal of all IRS products, supplies, loaned equipment, and taxpayer information from your site;
• Termination of your sponsoring organization’s partnership with the IRS;
• Termination of grant funds from the IRS to your sponsoring partner; and
• Referral of your conduct for potential TIGTA and criminal investigations
Answer:
b. 3.4 years
Explanation:
The formula to compute the payback period is shown below:
= Initial investment ÷ Net cash flow
where,
Initial investment is $379,000
And, the net cash flow = annual net operating income + depreciation expenses
= $57,000 + $53,000
= $110,000
Now put these values to the above formula
So, the value would equal to
= ($379,000) ÷ ($110,000)
= 3.4 years