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sweet-ann [11.9K]
3 years ago
14

Samantha owned 1,000 shares in Evita, Inc., an S corporation, that uses the calendar year. On October 11, Samantha sells all of

her Evita stock. Her stock basis at the beginning of the tax year was $60,000. Evita's ordinary income for the year was $22,000 through the date of sale, and Samantha receives a distribution of $35,000 on May 3rd. Her stock basis at the time of the sale is:_______.a. $117,000.b. $82,000.c. $60,000.d. $47,000.
Business
1 answer:
zaharov [31]3 years ago
8 0

Answer:

Option "D" is the correct answer to the following statement.

Explanation:

Given:

Stock basis at opening = $60,000

Ordinary income for the  Taxable year = $22,000

Distribution receive = $35000

Computation of stock at the time of sales.

Stock at the time of sales = Stock basis at opening + Ordinary income for the Taxable year - Distribution receive

= $60,000 + $22,000 - $35,000

= $82,000 - $35,000

= $47,000

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Dole, the sole owner of Enson Corp., transferred a building to Enson. The building had an adjusted tax basis of $35,000 and a fa
faust18 [17]

Answer:

C. $40,000

Explanation:

For computing the amount of the gain recognized, first we have to calculate the gain recognized based on the adjusted basis

= Cash received + fair market value of the stock - adjusted cash basis

= $40,000 + $60,000 - $35,000

= $100,000 -$35,000

= $65,000

But the cash is received for $40,000. So, only $40,000 of gain would be recognized. As in the case of transfer, if the amount is received other than the stock so the amount which is received is recognized as a gain i.e $40,000

4 0
3 years ago
Henry has been newly appointed as the head of the HR team at AAS Technologies. In an attempt to establish a more efficient and r
Scilla [17]

Answer:

Explained below

Explanation:

KSAOs or knowledge, skills, abilities, and other characteristics, are the unique set of criteria required by a hiring agency or company for a particular job.

Henry, being the HR head at AAS Technologies looks for these features in a desirable candidates to find common sync between the job requirements and the capabilities of the candidate. It proves to be an effective method to filter out less desirable job seekers.

3 0
3 years ago
University Printing Services offer a program of reproducing class notes for participating professors teaching large classes with
Licemer1 [7]

Answer:

233 copies

Explanation:

Cost of shortage (Cs)= Revenue per unit - Cost per unit

Cost of shortage (Cs) = $12 - $8

Cost of shortage (Cs) = $4

Cost of excess (Ce) = Original cost per unit - Salvage value per unit

Cost of excess (Ce) = $8 - $0

Cost of excess (Ce) = $8

Service Level (SL) = Cs/(Cs+Ce)

Service Level (SL) = $4 / ($4+$8)

Service Level (SL) = $4/$12

Service Level (SL) = 0.33

Optimum Level = Minimum student + SL*(Maximum student - Minimum student)

Optimum Level = 200 + 0.33*(300 - 200)

Optimum Level = 200 + 33

Optimum Level = 233 copies

8 0
3 years ago
The past five monthly returns for PG&E are −3.17 percent, 3.88 percent, 3.77 percent, 6.47 percent, and 3.58 percent. Comput
maksim [4K]

Answer:

3.22%

Explanation:

Standard Deviation is the quantity that shows how much a each element of a group differs from the mean of the group on average.  

Standard Deviation of the PG&E's monthly return is 3.22%. All the calculations and workings are done in an MS Excel file, which is attached with this answer, please find it.

Download xlsx
6 0
2 years ago
A corporation has $12 million net income after taxes, 5 million common shares outstanding, and $10 million of 6% preferred stock
Oduvanchick [21]

$2.40., was incorrect. The correct answer was: $2.28.

Begin by calculating how much of the net income is available for common stockholders (net income after taxes minus preferred dividends equals earnings available for common stockholders). The preferred stockholders received $600,000 in dividends (100,000 pfd shares × $6 per share dividends = $600,000). After subtracting $600,000 from the net income of $12 million, this leaves $11.4 million (earnings available for common stockholders). Compute EPS (earnings available for common ÷ number of common shares outstanding = $11.4 million / 5 million shares = $2.28 per share EPS).

the qestion is incomplete .please read below to find the missing content

 A corporation has $12 million net income after taxes, 5 million common shares outstanding, and $10 million of 6% preferred stock ($100 par). What is the corporation's earnings per share (EPS)?

A) $2.52.

B) $1.20.

C) $2.28.

D) $2.40.

Earnings per share is the monetary value of earnings per outstanding share of a company's common stock. It is an important measure of a company's profitability and is often used in stock pricing.

EPS shows a company's profitability by showing how much profit the company makes for each share of its stock. The EPS figure is determined by dividing a company's net income by shares of common stock outstanding. However, the higher the EPS number, the more profitable the company.

Learn more about   EPS here

brainly.com/question/17186859

#SPJ4

7 0
2 years ago
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