Answer:
c. $500,000.
Explanation:
Market Corporation has a basis in the land of $500,000.
We are told in the question that ''Market Corporation completely liquidates Subsidiary Corporation, receiving land with a $400,000 adjusted basis and a $500,000 Fair Market Value''
In the event of liquidation the value of an asset is no longer its carrying amount or book value but rather the amount at which the asset can be disposed which is the fair market value.
Answer:
$86,000
Explanation:
A partnership is a pass through entity that is not taxed directly, but instead its partners are taxed. Even the partners' salaries are recorded as drawings, not salary expense.
The partnership's total ordinary income = book income + any donations or contributions to charities = $80,000 + $6,000 = $86,000
Answer: $324,000
Explanation:
Cedar Corp. paid $432,000 for a year in advance. According to the Accrual principle in Accounting, expenses are to be recorded only when incurred.
The rent will therefore have to be apportioned to the months that it has paid for in the current period.
Rent for year = $432,000
Rent for month = 432,000/12 = $36,000
April - December = 9 months
Rent for the year = 9 * 36,000
= $324,000
Note; <em>Question is about Rent expense which is how much Cedar Corp has paid not about how much they have received. </em>
Answer:
Hello There!!
Explanation:
I think the answer is The Foreign Corrupt Practices Act.
hope this helps,have a great day!!
~Pinky~
<span>Answer:
R = Pe^(kt) where R = revenue, P is present value, k is interest rate and t is time in years.
(60 000 + 45 000+ 75 000)/2 = Pe^(.07*1)
90 000 = Pe^.07
P = 90 000/e^.07 = $83915.44
(60 000 + 45 000+ 75 000)/2 + 75 000(t-1) = 150 000 e^(kt)
90 000 + 75 000t - 75 000 = 150 000e^(.07t)
15 000 + 75 000t = 150 000e^(.07t)
1/10 + 1/2t = e^(.07t)
ln(.1 + .5t) = .07t
ln(.1+.5t)/t = .07
t = 2.12 years</span>
