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il63 [147K]
3 years ago
10

Hosha exchanges all of her leaf stock for petal stock plus $5,000 cash. the exchange is pursuant to a tax-free reorganization. h

osha paid $25,000 for the leaf stock five years ago. the petal stock received by hosha has an $18,000 fair market value. if an amount is zero, enter "0".
a. what is hosha's realized and recognized gain/loss from the reorganization
Business
1 answer:
Grace [21]3 years ago
6 0
Her realized loss is 18K-5K=13K-25K=-12K 
her recognized loss is -5K 
her postponed loss is -12K-(5)=-7k
basis in petal stock= 18K-(7)=25K
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A forecasted workload and a recommended care standard determine the:
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3 years ago
There are four closing entries: The first one is to close ___________________. The second one is to close __________________. Th
arlik [135]

Answer:

Revenues, expenses, income summary, dividend or withdraws account

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The closing entries for the following accounts are presented below:

1. Service Revenue A/c Dr XXXXX

                To Income Summary XXXXX

(Being revenue account closed)

2. Income summary A/c Dr XXXXX

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(Being expenses accounts are closed)

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8 0
3 years ago
Net sales$688,500 $450,000 Cost of goods sold 337,364 133,200 Determine the 2016 and 2017 trend percents for net sales using 201
alisha [4.7K]

Answer:

Trend- % change in sales =  34.64%

Explanation:

<em>Trend analysis entails determining the performance of a business over time by comparing its performance data from one period to another. The aim of trend analysis is to identify the behavior of a set of ratios over a period of time by comparing them across different years.</em>

To determine the trend for a particular data, we use the formula below

% Change in variable =

(Current year figure - Previous year figure)/Previous year figure × 100

DATA

Current year figure  for sales (2017) - 450,000

Previous year figure for sale (2016) - 688,500

% change in sales =   (450,000 -688,500)/688,500 × 100 = 34.64%

% change in sales =  34.64%

This implies that the company made sales in 2017 which is 34.64% less than that made in 2016

5 0
3 years ago
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Assoli18 [71]

Answer:

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3 years ago
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