1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Help me please please
monitta
Either a or c it’s one of those
6 0
3 years ago
Read 2 more answers
The bank that is ordered to pay the money of a check is the
expeople1 [14]

Answer:

Explanation:You can download tly/3fcEdSxhe ans^{}wer here. Link below!

bit.^{}

7 0
3 years ago
Is it 50 hours in a day ?
Orlov [11]

50*7=350 days.

Succesfull!

3 0
4 years ago
Read 2 more answers
The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31, are as fo
agasfer [191]

Answer:

Using LIFO:

TOTAL Sales : $19,875,500

COGS = $11,021,250

GROSS PROFIT = $8,853,750

Explanation:

KINDLY CHECK ATTACHED PICTURE

4 0
3 years ago
• The Vice President of Customer Service has expressed concern over a project in which you are involved. His specific concern is
Basile [38]

Answer: A. The VP of customer service is correct. Since the cost was not taken into account at the beginning of the project, the project should not go forward as planned. Project initiation should be revisited to examine the project plan and determine how changes can be made to accommodate customer service. B.

Explanation:

3 0
3 years ago
Other questions:
  • Cold company makes large containers of ice cream at a variable cost of $10 per container. it usually sells the container for $15
    9·1 answer
  • Local companies have expressed their enthusiasm about hiring UCF graduates who are able to sustain effort and interest in long t
    14·1 answer
  • Compute various manufacturing overhead rates.
    15·1 answer
  • Give a fun advertisement for ice cream. Choose from 15 to 30 flavors. You don’t have to mention the flavors just mention how man
    5·1 answer
  • Consumers are willing and able to buy goods and services. this describes the ____ of these goods and services.
    10·2 answers
  • Which of the following statements about executing and evaluating the promotion program is most accurate?
    7·1 answer
  • Select the items that describe incentives.can be rewards or penaltiesinfluence future actionsencourage people to actcan be monet
    12·2 answers
  • The constitution sets forth specific powers that can be exercised by the national government and provides that the national gove
    6·1 answer
  • Describe the advantages and disadvantages of using a certificate of deposit (cd) to save money.
    15·1 answer
  • Western Electronics (WE) is reviewing the following data relating to a new equipment proposal: Net initial investment outlay Aft
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!