Answer:
b. $5,560
Explanation:
The computation of the total interest revenue is shown below:
The five equal annual year-end payments = $5,009
For five years, the total amount is
= $5,009 × 5 years
= $25,045
And, the present value of recording the note is $19,485
So, the total interest revenue earned would be
= Five years amount - present value of recording the note
= $25,045 - $19,485
= $5,560
Answer:
B. $4,700
Explanation:
Calculation for the amount realized by Casey in the exchange
Using this formula
Amount realized in the exchange=Fair market value+ Qualifies deferral transaction+Property transferred Liability-Incurred selling expenses
Let plug in the formula
Amount realized in the exchange=$4,000 +$400 +$600 - $300
Amount realized in the exchange=$4,700
Therefore the amount realized by Casey in the exchange will be $4,700
Answer:
$65,000
Explanation:
Corporate liquidations of property generally are treated as a sale or exchange. Gain or loss generally is recognized by the corporation on a liquidating sale of its assets. Gain or loss generally is recognized also on a liquidating distribution of assets as if the corporation sold the assets to the distributee at fair market value.
In certain cases in which the distributee is a corporation in control of the distributing corporation, the distribution may not be taxable. For more information, see IRC Section 332 and the related regulations.
As a result, Alvo has a basis in the received property of $65,000 because the land was not sold and Alvo did not receive $200,000. Alvo no longer owns stock in Borasco, but has the land.
Karl would be responsible for paying for new paint under the <span>piecework and payment in kind wage systems.</span>
Answer:
d. Terms of Service Agreement.
Explanation:
A Terms of service (TOS) agreement is a formal listing of the policies, liability limits, fees and user rights and responsibilities associated with using a particular SNS. This service includes internet, telephone, data etc.