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Gemiola [76]
3 years ago
10

In general, the basis of property to a corporation in a transfer that qualifies as a nontaxable exchange under § 351 is the basi

s in the hands of the transferor shareholder decreased by the amount of any gain recognized on the transfer.
True / False.
Business
1 answer:
Shalnov [3]3 years ago
6 0

Answer

False

the basis of property to a corporation in a transfer that qualifies as a nontaxable exchange under § 351 is not the basis in the hands of the transferor shareholder decreased by the amount of any gain recognized on the transfer.

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Marigold Corp. sells radios for $50 per unit. The fixed costs are $545000 and the variable costs are 60% of the selling price. A
Montano1993 [528]

The new break-even point in units is: $23,200

Solution:

Given,

Marigold Corp. sells radios for $50 per unit

Fixed costs = $545000

Variable costs = 60%

As a consequence of the modern electronic facilities, the fixed costs are projected to rise by $35,000 and the variable costs would be 50% of the purchase price.

Now,

The new break-even point in units is:

= $545000 + $35000

= $580,000

=> 580,000/25 = $23,200

7 0
3 years ago
1. Sales discounts with terms 2/10, n/30 mean: a. 10 percent discount for payment within 30 days. b. 2 percent discount for paym
gulaghasi [49]

Answer: 1. b. 2 percent discount for payment within 10 days, or the full amount (less returns) due within 30 days.

2. Net Sales will Increase.

Explanation:

1. When a company offers Sales discounts with terms 2/10, n/30, it is broken down as follows,

The 2 is the discount in percentage,

The 10 is the number of days you have to pay the company in order to receive the discount

n/30 is the total amount of days you have to pay the company if you had been unable to do so in those first 10 days. Paying within this period after the first 10 days does not entitle you to thw discount.

Therefore the above sales discount terms offered are a 2 percent discount for payment within 10 days, or the full amount (less returns) due within 30 days.

2. Sales returns and Sales Allowances have the effect of reducing the net sales figure as goods are returned and risk has to be dealt with. If they reduce therefore, the net sales figure rises.

A reduction in the discount by the credit card company also leads to a Rise in sales because it reduces the amount that the company has to give in discounts thereby increasing the amount made per sale/ transaction.

If you need any further clarification, do comment. Cheers.

4 0
3 years ago
The belief that culture is held together by a series of important elements such as economy, education, religion, kinship, and po
exis [7]
Structural functionalism
8 0
3 years ago
Implementing and executing strategy successfully requires Implementing and executing strategy successfully requires:____________
dolphi86 [110]

Answer: C. . the efforts of a company's whole management team, not just a few senior managers

Explanation:

Planning, implementing and carrying out strategies requires a careful, collective and calculative decision to be made by all head of department and the board of an organization, because the decision taken will rub off through these departments for implementation. The decision or choice of decision should not be left to a few persons in the organization because when the ideas and plans are arranged the execution may fail as all the respective department were not involved by their heads.

5 0
3 years ago
Overhead Applied to Jobs, Departmental Overhead Rates Xania Inc. uses a normal job-order costing system. Currently, a plantwide
sveta [45]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Department A Department B

Overhead costs (expected) $120,000 $80,000

Normal activity (machine hours) 16,000 5,800

A) To calculate the plantwide overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (120,000 + 80,000) / (16,000 + 5,800)= $9.17 per machine hour

B) We need to use the same formula, but for each department:

Department A:

Estimated manufacturing overhead rate= 120,000/16,000= $7.5 per machine hour

Department B:

Estimated manufacturing overhead rate= 80,000/5,800= $13.79 per machine hour

7 0
3 years ago
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