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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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noname [10]

Answer:

The forecast inflation rate is implied by these interest rates is 1.13%

Explanation:

when dealing with inflation, we have that:

(1 + nominal interest rate) = (1 + real interest rate) * (1 + inflation rate)

                              1.0144 = 1.0031 * ( 1 + inflation rate)

                   inflation rate = 1.0144/1.0031 - 1

                                         = 1.13%

Therefore, The forecast inflation rate is implied by these interest rates is 1.13%

7 0
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The rule of 70 is a measure of how long it takes for something to double. 70 is divided by the rate of growth or rate of return.

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8 0
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The following amounts were obtained from the accounting records of Enderle Company: 2016 2017 2018 Beginning inventory $38,900 (
Svetllana [295]
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evablogger [386]

Answer:

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Explanation:

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