Answer:
A) Jane recognizes no gain; Walt recognizes a gain of $50,000.
Explanation:
§ 351 allows individuals or businesses tax free transfers to controlled corporations. In other words, Jane and Walt can transfer assets to form Yellow Corporation without recognizing any gain or loss.
Since Walt received some money from this transaction, that must be considered a gain since it is not included under § 351.
Answer:
A.) Medium of exchange - Here money is used for doing transaction and therefore, this example is under the medium of exchange.
B.) Store of value - Here, a person store or deposits his money into a bank and therefore, this shows the store of value characteristic of money.
C.) Medium of exchange - Here, one of my friend utilize money for helping me mowing lawns which shows that money is used as a medium of exchange.
D.) Unit of account - The unit of account characteristic of money is reflected here because a person easily calculated his net earnings for the year on the tax return in terms of money.
E.) Unit of account - The unit of account characteristic of money is reflected here because a person easily calculated his new lawn mower value.
Answer:
c. $24,750
Explanation:
For computing the fixed cost first we have to determine the variable cost per hour by using high low method which is shown below:
Variable cost per hour = (High total cost - low total cost) ÷ (High desk manufactured - lower desk manufactured)
= ($86,625 - $49,500) ÷ (4,500 desk - 1,800 desk)
= $37,125 ÷ 2,700 desk
= $13.75
Now the fixed cost equal to
= High total cost - (High desk manufactured × Variable cost per hour)
= $ 86,625 - (4,500 desk × $13.75)
= $86,625 - $61,875
= $24,750
Answer:
<u>(d)True, brokers often have inside information that is generally not available to the public. You should listen to her and profit from her inside knowledge</u>
Explanation:
- A broker is a person who has knowledge and expertise in his field of tradings and takes his commission for the services provided as these brokers also tend to have inside information and the success of the broker for the past five years proves this fact.
- Most of them typically have a formal license and proper training. Most of them are flexible and do dealing with face to face.
Answer:
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