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Alona [7]
3 years ago
13

"A customer owns 200 shares of ABC, purchased 2 years ago at $50 per share. The current market value of ABC stock is $60 per sha

re. If the customer gifts the stock to his son, the result is the:"
Business
1 answer:
kirza4 [7]3 years ago
7 0

Answer: The donor may incur a gift tax liability. Also, the cost basis will be $50 per share to the recipient of the gift.

Explanation:

From the question, we are informed that a customer owns 200 shares of ABC, that were bought 2 years ago at $50 per share and that the current market value of ABC stock is $60 per share.

If the customer gifts the stock to his son, the result is the donor may incur a gift tax liability. Also, the cost basis will be $50 per share to the recipient of the gift.

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Fenton Manufacturing Company at June 30: Cash in bank account $ 6,455 Inventory of postage stamps $ 74 Money market fund balance
Dmitrij [34]

Answer:

$19,462

Explanation:

The computation of the cash and cash equivalent is shown below:

= Cash in bank account + Money market fund balance + petty cash balance + money orders

= $6,455 + $12,400 + $350 + $257

= $19,462

It includes only cash in bank account, balance in money market, petty cash balance and the money orders

All other information which is given is not relevant. Hence, ignored it

5 0
3 years ago
Donatello files a suit against erasmus. before going to trial, the parties meet, with their attorneys to represent them, to try
Anuta_ua [19.1K]

The answer to the question is a form of out of court dispute resolution called negotiation.

In legal context, negotiation occurs when one party contact the other party to try and work out a resolution or settlement that both parties can agree with. This option is the correct one because it does not involve a third party, which in other types of dispute resolution such as mediation and arbitration, must be present.

5 0
3 years ago
A firm operated at 80% of capacity for the past year, during which fixed costs were $210,000, variable costs were 70% of sales,
Fittoniya [83]

Answer:

The answer is: $90,000

Explanation:

We must first determine the cost of goods sold:

  • COGS = variable costs = 70% x 1,000,000
  • COGS = $700,000

I will assume all fixed costs are operating expenses.

Then we elaborate a simple income statement:

Sales                           $1,000,000

<u>COGS                           ($700,000)   </u>

Gross profit                   $300,000

<u>Operating expenses    ($210,000)   </u>  

Operating profit             $90,000

5 0
3 years ago
Which of the following was partly an effect of the Mexican-American War?
Neporo4naja [7]

Answer:

The correct answer is letter "C": the United States becoming a transcontinental nation.

Explanation:

After <em>Texas </em>was declared independent from Mexico in 1836, issues arose since the U.S. did not want to annex the freed territory due to northern interests. Mexico became hostile in defining the frontiers after the independence of Texas at the point of threatening the U.S. to go on war if its demand was not fulfilled.  

With an attack on American Soldiers by April 1846 in Texas, the war begun. Americans military power revealed superior to Mexicans winning the war in favor of U.S. President James K. Polk (1795-1849) who <em>believed the U.S. had to spread across the continent</em>.

<em>The effect of the war was California, Utah, Nevada, and Arizona being annexed to the U.S. territory.</em>

7 0
3 years ago
Which of the following statements is FALSE?A) Without trading, the portfolio weights will decrease for the stocks in the portfol
Hoochie [10]

Answer: The correct answer is "A) Without trading, the portfolio weights will decrease for the stocks in the portfolio whose returns are above the overall portfolio return.".

Explanation: The statement "A) Without trading, the portfolio weights will decrease for the stocks in the portfolio whose returns are above the overall portfolio return." is FALSE, because it is the opposite, that is Without trading, the portfolio weights will <u>increase</u> for the stocks in the portfolio whose returns are above the overall portfolio return.

8 0
3 years ago
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