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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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Answer:

The correct answer is letter "A": Ethical leadership.

Explanation:

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3 years ago
Pop Consulting leased machinery to Red Inc. on July 1, 2018. The lease was recorded as a sales type lease. The present value of
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Answer:

The increase in earnings is $136511.56

Explanation:

Since the lease is a sale type of lease,it means that as soon as the machinery is delivered to the lessee,profit should be recognized on the lease transaction,which is computed below:

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                         =$274149-$156000

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However,every six months interest is charged on the lease,which clearly indicates another source of earnings,the interest in the first six months is given below:

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Conclusively, the increase in earnings is $118149+$18362.56

That is $136511.56

                                                                   

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Margaret is the new director of research at a well-known pharmaceutical company. She has been asked to design a set of research
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The experiment give rise to very accurate results , which is very important for any experiment .

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