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adell [148]
3 years ago
7

Marcie and her husband, Franklin, each own 50 shares of Chestnut, Inc. Sally, Marcie's old high school friend, owns the remainin

g 50 shares (150 total shares outstanding). Chestnut redeems 40 of Marcie's shares for $38,000 (her adjusted basis was $5,000). What is the tax treatment of the basis of the shares redeemed
Business
1 answer:
djverab [1.8K]3 years ago
5 0

Answer:

$38,000 Dividend

Explanation:

Based on the information given the tax treatment of the redemption to Marcie will be $38,000 dividend reason been that her husband shares was been attributed to her, and Since she owns 60 shares her remaining 10 shares including that of her husband 50 shares of Chestnut's will be 110 shares calculated as 150 shares - 40 shares outstanding.

Therefore when we look at this 60 shares/110 shares is greater than 50% which means that Marcie fails the 50% test which makes the redemption to be treated as a dividend.

Hence, the tax treatment of the basis of the shares redeemed will be $38,000 Dividend.

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n Corporation has a single product whose selling price is $120 per unit and whose variable expense is $80 per unit. The company’
Yuri [45]

Answer:

Explanation:

targeted profit can be achieved after covering total cost including fix cost

total cost = variable cost + fix cost

break even = total cost = total revenue

first we need to cover variable cost

Selling price                             =  120

Varaible cost                            =  -80

contribution margin                =   40

Now we need to cover fix cost

break even =  fix cost/ contribution margin    

break even =  50000/40

break even =  1250

now we need extra units to cover the targeted profit

 targeted units =  10000/40  

 targeted units =  250

total units that should be sold for targted profit of $10000 = (250+1250) = 1500

or  

we can solve through this method

targeted units = (fix cost+targeted profit) / CM per unit

targeted units = (50000+10000)/40

targeted units = 60000/40

targeted units = 1500

7 0
4 years ago
how much would be in your savings account in 9 years after depositing $160 today if the bank pays 9 percent per year
levacccp [35]

In 9 years after depositing $160, in my savings account would be $289.6

The formula for simple interest and procedure we will use to solve this exercise is:

S.I.= (P*R*T)/100

Where:

  • P = principal
  • R = rate of interest in % per annum
  • T = time

Information about the problem:

  • P = $160
  • R = 9%
  • T = 9 years
  • Total amount = ?

Applying the simple interest formula, we get:

S.I.= (P*R*T)/100

S.I.= (160* 9*9)/100

S.I.= $129.6

Calculating the total amount that would be in my savings account, we get:

Total amount = P + S.I.

Total amount = $160 + $129.6

Total amount = $289.6

<h3>What is simple interest?</h3>

It is the operation in which we calculate the profit produced by a capital loaned at a given percentage.

Learn more about simple interest at: brainly.com/question/20690803

#SPJ4

7 0
2 years ago
A post closing trial balance is a list of permanent accounts and their balances afterclosing entries have been journalized and r
Andrew [12]

Answer:

Post closing trail balance

Explanation:

As we know that

In the trial balance, it contains two sections. The one is debit that recorded expenses, and assets whereas another one are credit that recorded liabilities, revenues, and the stockholder equity

The post-closing trial balance is that trial balance that is made after passing the closing entries with respect to revenues, expenditure, dividend, net profit or net income.

The motive of this to balance the debit and the credit section which should be zero. Moreover, it is to be carried forward that would become the starting balance of the next accounting period.

6 0
4 years ago
Which eoc configuration allows personnel to function in the eoc?.
Vinil7 [7]

Answer: The Departmental Structure allows personnel to function in the EOC with minimal preparation or startup time.

Explanation:

6 0
2 years ago
A Fixed-Price Incentive (Firm Target) (FPIF) contract is awarded for $25 million to design acomputer based training course for t
otez555 [7]

Answer:

Air Force Program Manager (PM) would require submission of an Integrated Program Management Report (IPMR) with formats 1 through7.

Explanation:

A Fixed-Price Incentive (Firm Target) (FPIF) contract is awarded for $25 million to design a computer based training course for the Air Force with a period of performance of 18 months. Whatreports, if any, must the Air Force Program Manager (PM) require the contractor provide regarding their cost, schedule, and technical performance?

Answer

Air Force Program Manager (PM) would require submission of an Integrated Program Management Report (IPMR) with formats 1 through7.

Projects is an event(starting and finishing time) with date and purpose. A project has stake holders who are responsible for its actualization or not

Integrated project management is the compilation of processes that ensure various aspects of projects are properly coordinated. All relevant stakeholders and resources are been managed and establishes in the documents. Processes must be followed due to organization standards.

3 0
4 years ago
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