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Over [174]
3 years ago
5

Harry, Hermione, and Ron formed an S corporation called Bumblebore. Harry and Hermione both contributed cash of $40,300 to get t

hings started. Ron was a bit short on cash but had a parcel of land valued at $98,000 (basis of $80,600) that he decided to contribute. The land was encumbered by a $57,700 mortgage. What tax bases will each of the three have in his or her stock of Bumblebore
Business
1 answer:
Kitty [74]3 years ago
5 0

Answer:

The correct answer is $40,300, $40,300 and $22,900

Explanation:

According to the scenario, the given data are as follows:

Harry contributed = $40,300

Hermione contributed = $40,300

Ron contributed land value = $98,000

Basis of land = $80,600

Mortgage on land = $57,700

So, we can calculate the tax basis for each by using following method:

Tax basis of Harry =  Harry contributed cash

Tax basis of Harry = $40,300

Tax basis of Hermione =  Hermione contributed cash

Tax basis of Hermione = $40,300

Tax basis of Ron = Basis of land - Mortgage on land

= $80,600 - $57,700

= $22,900

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TOMS is a shoe company that, since its inception, has given away one pair of shoes to someone in need for every pair purchased b
Dafna11 [192]

Answer:

Socially responsible

Explanation:

A socially responsible company is one that seeks to identify as well as relieve the social needs in its business environment.

A major social problem or need around the world is the lack of clean drinking water and birthing services. Thus, by proffering solutions to this problem loyal customer of TOMS shoe company could notice that the company takes seriously its responsibility to the society.

3 0
3 years ago
An analysis of stockholders' equity of Hahn Corporation as of January 1, 2010, is as follows:
charle [14.2K]

Answer:

Additional paid-in capital is $904,200

Explanation:

Number of shares, issued and outstanding = 93,000 shares

Acquired 2,460 shares of its stock for $75,000.

Sold 2,000 treasury shares at $35 per share.

Sold the remaining 460 treasury shares at $20 per share.

i) Acquired 2,460 shares of its stock for $75,000.

= Treasury Stock Dr $75,000

ii) Sold 2,000 treasury shares at $35 per share.

Treasury Stock (2,000 × $35) = Dr $70,000

iii) Sold the remaining treasury shares at $20 per share.

Treasury Stock (460 × $20) = Dr $9,200

Total Treasury Stock = $75,000 - $70,000 - $9,200

= ($4,200)

Paid in Cap-tresury stock= 10,000-5000=5000

Additional Paid in capital = Paid in Capital - treasury stock

= 900,000 + 4,200 = $904,200

6 0
3 years ago
Gathering information with your eyes is called
Zina [86]
This is called, visual perception.
3 0
3 years ago
Read 2 more answers
The government uses taxes and subsidies to guide consumption and production decisions.
aleksandrvk [35]

Answer: True

Explanation:

Tax is the amount of money that's paid by an individual or firm to the government. Subsidies are the funds or other forms of assistance that's given by the government to firms in order to help them increase their production and lower the prices of goods.

Fir example, if the government wants to decrease consumption in the economy, the government can increase tax. On the other hand, the government can increase consumption by reducing tax as people will have money to spend and also more money for production purpose.

4 0
3 years ago
Which of the following is indicative of supervisory leadership?A. Conflict is containedB. Individual performance is developedC.
gulaghasi [49]

Answer:

B. Individual performance is developed.

Explanation:

Supervisors and leaders are closely related as both influence an audience, to grow and motivates them to attain goals.

Further, when supervisory leadership is done, it clearly helps individuals grow, and act motivated in all the aspects of the performance.

This, is clearly depicted from the results of outcomes as the performance is above the expected standards and then, the individual level of performing the job also get boosted.

Therefore, correct option is

Statement B

5 0
3 years ago
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