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shepuryov [24]
3 years ago
13

Allen transfers marketable securities with an adjusted basis of $120,000, fair market value of $300,000, for 85% of the stock of

Heron Corporation. In addition, he receives cash of $40,000. Allen recognizes a capital gain of $40,000 on the transfer.tRUE/FALSE
Business
1 answer:
julia-pushkina [17]3 years ago
5 0

Answer:

True

Explanation:

The reason is that it is transfering marketable securities for another marketables securities which are subject to a change of values as the previous one. Only the amount received in cash was realized thus, that is the amount of gain Allen will recognize as capital gain

The other part is unrealized gain until this shares are sold point atwhich, Allen which check for how much is the realized gain/loss in the transaction

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Linda visits her favorite clothing store and is disappointed to discover that the shirt she was hoping to purchase is out of sto
Julli [10]

Answer:

d. backorder

Explanation:

Based on the scenario being described within the question it can be said that the sales associate most likely offered to backorder the item for Linda. This is when a retailer places an order for a product that is no longer in stock for the time being, in order to comply with the customer, but will take a while for that order to come in and for the transaction to be completed.

8 0
3 years ago
Which of the following journals would a company use to record cash collections from customers, net of discounts taken?
erastova [34]

Answer:

b. Cash receipts journal.

Explanation:

When cash will be collected from customers net of discounts cash receipts journal will be used.

As at time of sale customers account will be debited and at the time when the payments will be received cash receipts journal will be debited and customer's account will be credited and accordingly, since cash is received and specific it is, General Journal will not be affected, and cash disbursements journal will also not be affected.

Also, as there are no purchases purchase journal will also not be affected, and sales journal will be affected at time of sale but not at he time of receiving payments from customers.

Thus, correct answer is

b. Cash receipts journal.

6 0
2 years ago
PLEASE HELP NOW I NEED IT ASAP
eimsori [14]

Answer:

Stock: 64%

Mutual Fund: 15%

Bond: 11%

Savings Account: 10%

Explanation: Out of 100% we have 64%, 15%, 11%, and 10%. We are being asked to place these percentages to different categories based on Chris's investment to minimize the risk of his portfolio. To know what percentage to assign what category, we simply take a look at each category and determine each worth. The Stock has higher risk and higher growth, so the percentage should be the highest one which is 64%. The Mutual fund has a medium growth and a medium risk, so it should have the medium percentage which is 15%. The bond has a low growth and a low risk, which should have a low percentage but not the lowest which is 11%. Savings Account has the lowest growth and lowest risk, which should have the lowest percentage.

I am not 100% sure if it's correct, I am about 90% sure its correct. If I am wrong please make sure to comment on that.

Your Welcome,

-Expert Chicken Sama

3 0
3 years ago
Volume_upclosed_captiondescriptionfullscreen
sleet_krkn [62]

Answer:

In situations where customers ask to hold the bookings without any advance payment, they clearly mean to book it but keep other options open. It is highly risky because the customer has no stakes to lose and if he finds a similar product in lower cost or with a better package, they will most definitely change their vendor.

Therefore is is necessary to book products with advance payments so if even the customer backs out, you will not have lost all of your stakes.

8 0
2 years ago
Read 2 more answers
25 . what income must austin report for his business on schedule c-ez or c?
lawyer [7]
One of them should be <span> Cash income in payments from individual clients.
The difference between the two of them only the status of your employees.
If you already employed workers, you should use shcedule c-ez nut if you still does not posess any employee, Schedule C would be the best option for you.</span>
6 0
2 years ago
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