Answer:
hmmm i never think about that
Answer and Explanation:
The computation of the federal income tax ramifications are shown below:
At the corporate level, the capital gain is
= Worth of the land - the purchased value of the land four years ago
= $240,000 - $160,000
= $80,000
Since there is four shareholders, so the amount each shareholder held is
= $80,000 ÷ 4
= $20,000
And, the David stock basis drop is
= David basis in S corporation stock - land worth + amount of each shareholder
= $270,000 - $240,000 + $20,000
= $50,000
Answer:
(A) 2 obligations
(B) Sales revenue for January: 449,232 dollars
Accounts receivales 449.232 debit
Sales revenues 449.232 credit
Explanation:
(A) there is two performance obligations
one is two deliver the musk soap
and the other is the warranty on the soap
nominal: 3,820 musk soap x $ 120 per unit = $ 458,400
less warranty of 2% 458,400 (1 - 0.02) = $449,232
