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Novay_Z [31]
3 years ago
8

Suppose that at the beginning of 2019 Jamaal's basis in his S corporation stock was $27,000 and Jamaal has directly loaned the S

corporation $10,000. During 2019, the S corporation reported an $80,000 ordinary business loss and no separately stated items. After any loss deductions this year, what is Jamaal's stock and debt basis at the end of the year if Jamaal is a 50 percent shareholder of the S corporation
Business
1 answer:
ss7ja [257]3 years ago
6 0

Answer:

$37,000

Explanation:

Given that,

stock basis = $ 27,000

Debt basis = Loan taken from corporation

                  = $ 10,000

Therefore, after any loss deductions this year,

Jamaal's stock and debt basis at the end of the year if Jamaal is a 50% shareholder of the S corporation:

= stock basis + Debt basis

= $27,000 + $10,000

= $37,000

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netineya [11]

Answer:

Delegation of control

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4 0
2 years ago
​refer to scenario 12.3. given ray-ban's plan for positioning the new sunglass line, they should use a ____ strategy when introd
bogdanovich [222]
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5 0
2 years ago
Crosby contracts with Subban whereby Crosby agrees to sweep Subban retail shop at the end of each work day. Before the first pay
Alchen [17]

Crosby signs a contract with Subban and agrees to meet at Subban's business at the conclusion of each work day, before the first payment is due, and then files a lawsuit against Subban, claiming that the license is unenforceable because the license's objective is to protect the public.

<h3>What is contract?</h3>

A contract is the legal agreement between the two parties. It contains all the essentials of section 10. On the breach of such contract, the party who break the contract will be punishable under the act.

Crosby and Subban have a contract in which Crosby agrees to sweep Subban's retail store at the end of each work day. Subban discovers Crosby is unlicensed before the first payment is due.

All retail floor sweepers in Florida are required to be certified and pay annual dues.

As a result, Subban does not compensate Crosby for his efforts. When Crosby s pursues a breach of contract complaint against Subban to court, the judge will conclude the contract is invalid since the purpose of the license is to protect the public.

Therefore, the contract is unenforceable.

Learn more about the contract, refer to:

brainly.com/question/2669219

#SPJ1

4 0
2 years ago
The tasman company purchased land for $150,000. the cost to demolish the existing building and prepare the land for a new buildi
bagirrra123 [75]
You just add it all together $150,000+ $20,000+ $9,000= your answer
Hope this helped! ;D
8 0
3 years ago
Which of the following statements concerning the reduction of Social Security benefits is (are) correct?
tatiyna

Answer:

b) 2 only

Explanation:

The Social Security Act set up the Old Age and Survivors Insurance Trust Fund (OASI), from which retired individuals receive their payments. These benefits are subject to taxes, and can be withheld if a debt is incurred or an over-payment occurs.

5 0
3 years ago
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