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Mama L [17]
3 years ago
6

Clampett, Inc., has been an S corporation since its inception. On July 15, 2020, Clampett, Inc., distributed $49,000 to J.D. His

basis in his Clampett, Inc., stock on January 1, 2020, was $48,000. For 2020, J.D. was allocated $12,000 of ordinary income from Clampett, Inc., and no separately stated items. What is J.D.'s basis in his Clampett, Inc., stock after all transactions in 2020
Business
1 answer:
maria [59]3 years ago
4 0

Answer:

$11,000

Explanation:

The basis an investment refers to the asset's original value which is adjusted for capital distributions, stock slits, and dividends.

The J.D.'s basis in his Clampett, Inc. stock after all transactions in 2020 can therefore be computed by adjusting the original basis as follows:

Basis after all the 2020 transactions = Original basis or 1 Jan. 2020 basis + Allocated income - Distribution = $48,000 + $12,000 - $49,000 = $11,000

Therefore, .D.'s basis in his Clampett, Inc., stock after all transactions in 2020 is $11,000.

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Answer:

so childhood, is when your learning everything, up to the point where your're an adult, so basically, you're learning, to eat, walk, speak, and basically the important stuff, and an adult is always busy, no matter what, they are always busy, in some way, and don't have much time to make friends like kids do

4 0
2 years ago
What is the most likely reason some people avoid all carbohydrates in order to lose weight?
liberstina [14]

Answer:

People avoid carbohydrates, because they have a high calory density.

6 0
3 years ago
Sunbird Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Sunbird Theatre Inc. has declared the foll
bulgar [2K]

Answer:

See the explanation below.

Explanation:

1. Calculation of total dividend for six years (2011 to 2016)

Total dividend = 2011  dividend + 2012  dividend + 2013  dividend + 2014  dividend + 2015  dividend + 2016  dividend

Total dividend = $20,000 + $36,000 + $70,000 + $90,000 + $102,000  + $150,000  

Total dividend = $468,000  

2. Calculation of per-share dividends declared on each class of stock for each of the six years

Note that preferred stock holders are entitled to dividend first before the common stock holders. It is what remains after paying the preferred shareholders that the common shareholders get. Therefore, the calculation is done as follows:

2011:

Preferred dividend per share = Preferred dividend rate × Preferred stock price

Expected preferred dividend per share = 1% × $30 = 0.30 per share

Expected total preferred dividend = Expected preferred dividend per share × Number proffered share

Expected total preferred dividend = $0.30 × 100,000 = $30,000

Actual dividend declared = $20,000

Preferred dividend declared per share = $20,000 ÷ 100,000 = $0.20

Preferred dividend arrears (Cumulative) = $30,000 - $20,000 = $10,000

Preferred dividend per share arrears (Cumulative)  = $10,000 ÷ 100,000 = $0.10

Since preferred stock holders are entitled to dividend first before the common stock holders and the dividend declared is lower than the dividend payable to the preferred shareholders, the common stockholders will receive zero dividend in 2011.

Also, since it is stated in the question that the preferred 1% stock is cumulative

2012:

Expected preferred dividend per share = 1% × $30 = 0.30 per share

Expected total preferred dividend = Expected preferred dividend per share × Number proffered share

Expected total preferred dividend = $0.30 × 100,000 = $30,000

Total dividend declared = $36,000

Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30

To pay preferred dividend in arrears = $36,000 - $30,000 = $6,000

Preferred dividend arrears per share paid = $6,000 ÷ 100,000 = $0.06

Balance of preferred dividend arrears = $10,000 - $6,000 = $4,000

Balance of preferred dividend per share arrears  = $4,000 ÷ 100,000 = $0.04.

Total preferred dividend paid in 2012 = $36,000

Preferred dividend per share paid in 2012 = $36,000 ÷ 100,000 = 0.36

Again for the same reason as stated above, the common stockholders will also receive zero dividend in 2012.

2013:

Expected preferred dividend per share = 1% × $30 = 0.30 per share

Expected total preferred dividend = Expected preferred dividend per share × Number proffered share

Expected total preferred dividend = $0.30 × 100,000 = $30,000

Total dividend declared = $70,000

Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30

To pay preferred dividend arrears = $4,000

Preferred dividend arrears per share paid = $4,000 ÷ 100,000 = $0.04

Common stock dividend = $70,000 - $34,000 = $36,000

Common stock dividend per share = $36,000 ÷ 400,000 = $0.09.

2014:

Expected preferred dividend per share = 1% × $30 = 0.30 per share

Expected total preferred dividend = Expected preferred dividend per share × Number proffered share

Actual total preferred dividend = $0.30 × 100,000 = $30,000

Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30

Total dividend declared = $90,000

Common stock dividend = $90,000 - $30,000 = $60,000

Common stock dividend per share = $60,000 ÷ 400,000 = $0.15.

2014:

Expected preferred dividend per share = 1% × $30 = 0.30 per share

Expected total preferred dividend = Expected preferred dividend per share × Number proffered share

Actual total preferred dividend = $0.30 × 100,000 = $30,000

Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30

Total dividend declared = $102,000

Common stock dividend = $102,000 - $30,000 = $72,000

Common stock dividend per share = $72,000 ÷ 400,000 = $0.18.

2015:

Expected preferred dividend per share = 1% × $30 = 0.30 per share

Expected total preferred dividend = Expected preferred dividend per share × Number proffered share

Actual total preferred dividend = $0.30 × 100,000 = $30,000

Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30

Total dividend declared = $150,000

Common stock dividend = $150,000 - $30,000 = $130,000

Common stock dividend per share = $130,000 ÷ 400,000 = $0.33.

5 0
3 years ago
Jared's boss encourages employees to participate in the decision-making process but does not give them complete freedom to do as
strojnjashka [21]

Answer:

D) democratic

Explanation:

A democratic leadership style is a type of leadership where a leader asks for the inputs of emoloyees in making decisions and the final decision made by the leader is based on the inputs of members.

Jared's boss allows his staff to give inputs but he makes the ultimate decision .

In an autocratic leadership style, the leader doesn't take any input from employees when making decisions.

Laissez faire is a type of leadership style where employees are given a free rein in the company.

7 0
3 years ago
Ryan filed a lawsuit against his previous employer because he was fired without warning. Which of the following events most like
Anastasy [175]

Answer:

D. Ryan was fired from the company without prior notice.

Explanation:

none of the other answers make sense.

5 0
3 years ago
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