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Lina20 [59]
3 years ago
7

Lake City Corporation owns all the stock in Columbia Corporation. Pursuant to a plan of complete​ liquidation, Columbia distribu

tes land having a​ $500,000 FMV and a​ $200,000 basis to Lake City.​ Columbia's gain with respect to the distribution will be
Business
1 answer:
sladkih [1.3K]3 years ago
3 0

Answer:

Since on distribution on complete liquidation to shareholder will taxable on both hand (company and shareholdeR) .shareholder will pay tax on FMVless adjusted basis and corporate will pay tax on gain (FMV-adjusted basis of asset ).

since taxability in both hands will result in double taxation ,any gain/loss will be taxed in shareholders hand and corporate tax liability will be minimal'

so correct option is "D" -no gain recognised.

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Montel Company’s July sales budget calls for sales of $550,000. The store expects to begin July with $57,000 of inventory and to
Artyom0805 [142]

Answer:

the budgeted cost of merchandise purchases for July is $313,000

Explanation:

given data

July sales = $550,000

begin July inventory = $57,000

end the month inventory = $40,000

Gross margin = 40% of sales

to find out

budgeted cost of merchandise purchases for July

solution

we will get here cost of sales that is express as

Cost of sales = $550,000 × (1 - 0.40)

Cost of sales = $330,000

and

The budgeted cost of merchandise purchases for July will be

budgeted cost = Closing Stock of Inventory + cost of sales - Opening Stock of inventory     ............................1

put here value

budgeted cost =  $40,000 + $330,000  - $57,000

budgeted cost = $313,000

so the budgeted cost of merchandise purchases for July is $313,000

7 0
2 years ago
Mr. and Mrs. Nabulsi are 44 and 41 years old, respectively. They have two children, 14 and 16 years old. They are successful and
mixer [17]

Answer:

mnb   b

Explanation:

5 0
2 years ago
Rosalie is a sales consultant for Avon Cosmetics. This illustrates
aliina [53]

a. Rosalie is a sales consultant for Avon Cosmetics. This illustrates personal selling. Hence, option (a) is relevant option.

<h3>Give a brief account on Marketing.</h3>

Marketing is the process of discovering, developing, and delivering value to meet the needs of a target market in terms of products and services. Choosing a target market, selecting specific traits or themes to highlight in advertising, executing marketing campaigns, attending trade shows and open events, creating products and packaging that appeal to consumers, and defining the terms of sale, such as the purchase price, discounts, warranties, and return policies are other possible steps. Usually, the seller, who is usually a manufacturer or merchant, handles the marketing.

The occasional hiring of a specialized marketing firm or advertising agency may be necessary. Less frequently, a trade association or government agency (like the Agricultural Marketing Service) will market an entire sector or location, frequently a single food item (like Got Milk? ), food from a specific area.

b. Inside salespersons generally focus on taking orders and following up, whereas outside salespersons are more consultative. Hence, option (d) is the relevant option.

To know more about, marketing, visit :

brainly.com/question/27155256

#SPJ1

7 0
10 months ago
Percentage of sales budgeting can also be called _____.
nika2105 [10]

Answer:

promotional budget is set as a percentage of current or anticipated sales

Typical percent of sales is 2%-5%

Explanation:

<h3>so I would have to say arbitrary budgeting </h3>
7 0
3 years ago
The American Association of Individual Investors (AAII) has identified several qualitative factors that should also be considere
wel

Answer:

Option 1 is the Correct Answer

Explanation:

Eastern Manufacturing being a one item organization is reliant on a solitary item for their benefit. As the item is at its immersion organize in showcase, the advancement of new item can carry another method for income to organization or the organization would before long face endurance issues.

7 0
3 years ago
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