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
Alik [6]
3 years ago
13

Rayburn owns all the shares of Newcastle Corporation, which operates as an S corporation. Rayburn's basis in the stock is $15,00

0. During the year, he receives a cash distribution of $22,000 from Newcastle. What must Rayburn and Newcastle report as income from the cash distribution?
Business
1 answer:
maksim [4K]3 years ago
7 0

Answer:

$7,000 $-0-

Explanation:

For Rayburn to know what to record from the cash distribution, he will need to subtract his basis in the stock from the cash distribution he receives

Therefore $22 000 - $15 000 = $7 000.

And Newcastle has no income =$-0-

You might be interested in
ACME Confetti Corporation needs to finance $20 million for a plant expansion building project. They've decided to issue common s
Law Incorporation [45]

Answer:

Option (C) is correct.

Explanation:

The required proceeds:

= Amount need to be finance ÷ (1 - 7%)

= $20 million ÷ (1 - 0.07)

= $215,05,376.34 (approx)

Hence, the number of shares needed to be issued:

= required proceeds ÷ Issue price per share

= $215,05,376.34 ÷ $50 per share

= 430,108 shares (approx)

Therefore, 430,108 shares they need to issue to cover the cost of the project plus all floatation costs.

6 0
3 years ago
In a recent year, BMW sold 217,044 of its 1 Series cars. Assume the company expected to sell 226,244 of these cars during the ye
True [87]

Answer:

The answers are:

+ Sales price variance: $65,113,200

+ Sales volume variance: $(239,200,000)

Explanation:

We have detailed calculations shown as below:

Sales price variance = ( Actual unit sales price - budgeted unit sales price) x actual unit sold = ( 26,300 - 26,000) x 217,044 = $65,113,200;

Sales volume variance = ( Actual unit sold - Budgeted unit sold) x budgeted unit sales price = (217,044 - 226,244) x 26,000 = $(239,200,000).

So, for BMW recent year, we have:

+ Sales price variance: $65,113,200;

+ Sales volume variance: $(239,200,000).

6 0
3 years ago
Read 2 more answers
Net operating income equals: Multiple choice question. dollar sales – dollar sales to break even. unit sales × unit contribution
GalinKa [24]

Net operating income equals (unit sales - unit sales to break even) × unit contribution margin.

What is net operating income?

Real estate professionals utilize the metric known as Net Operating Income, or NOI, to swiftly determine the profitability of a certain venture. After deducting required operational costs, NOI calculates the revenue and profitability of investment real estate property.

Is net operating income the same as profit?

After all, costs have been deducted, operating profit displays a company's earnings, excluding the cost of debt, taxes, and some one-time expenses. Contrarily, net income is the profit that is still left over after all expenses made during the time have been deducted from sales revenue.

Learn more about net operating income: brainly.com/question/14103167

#SPJ4

6 0
2 years ago
Select the three soft skills. A. self-awarness B. using a computer C. persistence D. stress management E. holding a meeting
AlekseyPX

The answer would be, D, stress management

6 0
3 years ago
Read 2 more answers
Congress would like to increase tax revenues by 10 percent. Assume that the average taxpayer in the United States earns $65,000
SSSSS [86.1K]

Answer: <em><u>16.5% is the average tax rate that will result in a 10 percent increase in tax revenues.</u></em>

Explanation:

This is an example of static forecasting since no time parameter is involved.

Now,

Let initial revenue be "R" ,

"n" be no. of taxpayer

∴ R= 65000×0.15×n

R +0.1R= 65000×rate×n

Using the above two equation, we'll get ;

<u><em>r = 16.5%</em></u>

7 0
3 years ago
Other questions:
  • __________ involves the analysis of economic, political, legal, technological, and cultural events and trends that may affect th
    12·1 answer
  • Taylor Equipment Repair Service is owned by Jason Taylor. Cash $ 33,700 Supplies 5,780 Accounts Receivable 12,600 Equipment 77,4
    6·1 answer
  • Suppose that a nation has a GDP of 1.0 trillion dollars in 2000. If a country grows at an average rate of 3.0 % per year over a
    12·1 answer
  • The following information is available from the adjusted trial balance of the Harris Vacation Rental Agency. After closing entri
    11·1 answer
  • Jones Corporation purchased merchandise inventory with a 10%, 120-day note payable for $10,000. The company uses the perpetual i
    14·1 answer
  • The policy makers of Country LT have noticed a steady increase in grain prices over the last several years. The increase in pric
    8·2 answers
  • Maria usually sleeps until 8 am, but tomorrow she needs to be at work at 6 am. She should probably _____.
    13·2 answers
  • Mini-Case Nolan and Sadie have just opened a new restaurant on the edge of town, Cajun Kitchen. They own the land and building a
    12·1 answer
  • Please help!! My 9th time posting this please actually help me!
    5·1 answer
  • Evaluating debt burden. Ted Phillips has a monthly take-home pay of $1,685; he makes payments of $410 a
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!