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Elis [28]
3 years ago
8

In year 1, Stone, a cash basis taxpayer, incorporated her CPA practice. No liabilities were transferred. The following assets we

re transferred to the corporation: Cash (checking account) $500 Computer equipment: Adjusted Basis 30,000 Fair market value 34,000 Cost 40,000 Immediately after the transfer, Stone owned 100% of the corporation’s stock. The corporation’s total basis for the transferred assets is: a. $30,500 b. $40,500 c. $30,000 d. $34,500
Business
1 answer:
Tanzania [10]3 years ago
4 0

Answer:

a. $30,500

Explanation:

The computation of the corporation’s total basis for the transferred assets is shown below:

= Cash basis of checking account + adjusted basis of computer equipment

= $500 + $30,000

= $30,500

We simply added the cash basis of checking account and the adjusted basis of computer equipment so that the corporation total basis of the transferred asset could come

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As a general rule, the Chinese government allows foreign companies to participate in its market only if those companies agree to
stealth61 [152]

Answer:

C. Joint Venture

Explanation:

A Joint Venture is a business agreement in which two or more parties agree to combine their resources in order to achieve an objective.

Companies use Joint Ventures to partner with foreign businesses in order to enter their market. This is what China is proposing in the scenario above, and it has been done in order that China might have a stake in those businesses.

<u>Advantages of a Joint Venture include:</u>

  • Access to new markets.
  • Pooling of resources.
  • Low cost of production.
  • Access to expertise ans technology, and so on.

7 0
3 years ago
Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,500 of dir
Dmitriy789 [7]

Answer:

The answer is: $29,000

Explanation:

To calculate Job A3B's costs during September we must add direct materials plus 3 times direct labor:

September costs = direct materials + (direct labor x 3) = $1,500 + $9,000

September costs = $10,500

We do the same for October:

October costs: direct materials + (direct labor x 3) = $2,000 + $16,500

October costs = $18,500

The total cost for Job A3B is: $10,500 + $18,500 = $29,000

5 0
3 years ago
A popular television program called the swan aimed to turn less visually appealing people into more socially acceptable ones by
Sati [7]
<span>This is an example of, "medicalization and the social construction of health and illness".

</span><span>Medicalization is examined from a sociologic point of view regarding the part and energy of experts, patients, and enterprises, and furthermore for its suggestions for ordinary individuals whose self-character and life choices may rely upon the overall ideas of health and illness.
</span>
3 0
3 years ago
Assume that Faust and McCabe properly classify the portfolio. At year-end, Faust proposes to sell the securities that will incre
alexgriva [62]

Answer:

No

Explanation:

This is not unethical because it is a common and acceptable practice among many reputable public companies in the United States to adjust their account statements according to their objectives.

Remember, every organisation had a right to decide It's accounting methods.

In this scenario, what both parties hope to achieve is to build up confidence from potential investors.

5 0
3 years ago
In one nation, life expectancy is in the high 50s. Few citizens have access to modern technology, and the average yearly income
NARA [144]

Answer:

Developing

Explanation:

A developing country is one where,

  • Per capita income is lower which means individuals earn money for basic survival. There are no means of investment and savings.
  • Life expectancy is higher due to absence of modern medical facilities in all areas.
  • Technology is still reaching people in rural areas. Not everybody has access to modern technology.
  • High rates of population and unemployment.

Here, the country has all features of a developing world nation.

8 0
3 years ago
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