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mestny [16]
3 years ago
13

Ashley and Benjamin are the sole owners of Super Corporation. Ashley owns 40% of the stock and Benjamin owns 60%. Several years

after the creation of the corporation, Ashley contributes an additional $20,000 in cash and Benjamin contributes additional property with a fair market value of $30,000 and an adjusted basis of $25,000.
What amount of income is recognized by Super Corporation as a result of these contributions?
Business
1 answer:
PSYCHO15rus [73]3 years ago
8 0

Answer:

NONE

Explanation:

The corporation do not recognize income from the contribution of partners. Dong so, will false the revenue recognition as it would be generated at will fom the partners and then distribute as "dividends" while in fact they are moving cash form one place to another

The difference in the property fair value and the adjusted basis will be a gain on Benjamin not for the Partnership

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Unions contribute to Select one: a. frictional unemployment but not the natural rate of unemployment. b. the natural rate of une
Verizon [17]

Answer:

The correct answer is letter "C": both frictional unemployment and the natural rate of unemployment.

Explanation:

Natural unemployment is defined as the lowest rate of unemployment an economy will reach. It is called natural because its causes are other than an adverse economy. Natural unemployment is a combination of <em>frictional unemployment</em> -employment transitions, <em>structural unemployment</em> -mismatch between abilities and current position, and <em>labor surplus</em>.

Unions are groups of individuals who join to set minimum standards at work in regards to wages, compensations, and conditions. <em>Union members are, by default, always available to join the workforce even if there is work to be done or not. Sometimes, union members are assigned duties their abilities outperform just to avoid having the member unemployed. These are the reasons why unions are said to contribute to natural unemployment.</em>

5 0
3 years ago
The following note transactions occurred during the year for Towell Company: Nov. 10 Towell issued a 90-day, 9% note payable for
Pani-rosa [81]

Answer: See explanation

Explanation:

The general journal entries necessary to adjust the interest accounts at December 31 will be:

1. December 31:

Debit: Interest Expenses = $8,000 × 9% × 51/ 360 = $102

Credit: Interest payable = $102

(To accrue interest expenses for the note issued on November 10).

2. December 31:

Debit: Interest Expenses = $12,000 × 10% ×30/360 = $120

Credit: Interest payable = $120

(To accrue interest expenses for the note issued on December 1)

3. December 31:

Debit: Interest Expenses = $12,000 × 10% × 11/360 = $36.67

Credit: Interest payable = $36.67

(To accrue interest expenses for the note issued on December 20).

3 0
2 years ago
You are considering buying common stock in Grow On, Inc. The firm yesterday paid a dividend of $7.80. You have projected that di
Lina20 [59]

Answer:

The answer is $56.68

Explanation:

Solution

We recall that:

The firm paid a dividend of =$7.80

The projected growth of dividends is at a rate = 9.0%

The annual return = 24.0%

Now,

V = ($7.80 * (1.09)/(.24 - 0.9)

= (8.502)/(.24-0.9)

= (8.502) * (-0.66)

= $56.68

Therefore, this would be the most we would pay for the stock. If we paid less than that, our return would be above the 24%.

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3 years ago
Using advertising to promote a company, instead of a product or service, is called what?
fiasKO [112]
C). Institutional Advertising. 
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