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Katarina [22]
3 years ago
5

Matulis, Inc., a calendar year C corporation, owns a single asset with a basis of $325,000 and a fair market value of $800,000.

Matulis holds a positive E & P balance. The entity elects S corporation status for 2020 and then sells the asset. Compute the corporate-level bt1ilt-in gains tax that mt1st be paid by Matulis.
Business
1 answer:
Talja [164]3 years ago
3 0

Answer:

$99,750

Explanation:

Matulis's taxes are = (asset's fair market value - asset's basis) x corporate tax rate = ($800,000 - $325,000) x 21% = $475,000 x 21% = $99,750

Since the C corporation is turning into a S corporation it must recognize the gain on holding the asset. The Tax Cuts and Jobs Act set the corporate tax rate at 21%.

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The following data is available for Box Corporation: Common stock, par $10 (authorized 30,000 shares) $250,000 Treasury stock (a
zubka84 [21]

Answer:

The shares of common stock are outstanding are 24,920 shares .

Explanation:

Outstanding shares

= Shares issued - Shares held as Treasury Stock shares

= $250000/$10 par - $1200/$15

= 25000 shares  - 80 shares

= 24,920 shares

Therefore, The shares of common stock are outstanding are 24,920 shares .

3 0
3 years ago
Which of the following statements about the price elasticity of demand is correct The absolute value of the elasticity of demand
notsponge [240]

Answer:

Demand is more elastic in the long run than it is in the short run

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Demand is more elastic in the long run than it is in the short run because in the long run consumers have more time to search for suitable substitutes.

When the absolute value of elasticity of demand is less than one, demand is inelastic.

When the absolute value of elasticity of demand is equal to one, demand is unitary.

When the absolute value of elasticity of demand is greater than one, demand is elastic.

Demand is less elastic the smaller the percentage of the consumer's budget the item takes up. 

The elasticity of demand for a specific brand of good doesn't translate into the elasticity of demand for the good.

I hope my answer helps you

4 0
3 years ago
N a just-in-time logistics system, __________. producers supply products to resellers before customers place their orders produc
Reika [66]
Retailers carry small inventories of merchandise to last for only a few days, in a just-in-time logistic system. In a just in time logistic system, the retailers carry small inventories of the merchandise to last for only a couple of days. So the answer in this question is the retailers carry small inventories of merchandise to last for only a few days.
8 0
3 years ago
An investor wants to save money over a long period of time. This investor does not need to have easy access to the money and is
Mariana [72]

If an investor wants to save money over a long period without easy access to the money and knowing the interest rate will not change, they need <u>A. Bonds</u>.

<h3>What are bonds?</h3>

Bonds are securities that guarantee the return of capital and periodic interests on a long-term basis.

Types of Bonds include:

  • U.S. Treasury Bonds
  • Corporate Bonds
  • Municipal Bonds.

Thus, if an investor wants to save money over a long period without easy access to the money and knowing the interest rate will not change, they need <u>A. Bonds</u>.

Learn more about long-term investments at brainly.com/question/17050326

#SPJ1

6 0
2 years ago
Which of the following would make the best thesis statement for a debate? a. Art and music classes are great. b. Schools should
Novosadov [1.4K]
The best answer choice would be "B". This gives the main idea of what your debate would be about. It is also clear, and not biased or opinionated.

I hope this helps!
~cupcake
3 0
3 years ago
Read 2 more answers
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