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Alona [7]
3 years ago
11

Market Corporation owns 100% of Subsidiary Corporation's stock. Market Corporation completely liquidates Subsidiary Corporation,

receiving land with a $400,000 adjusted basis and a $500,000 FMV in exchange for Subsidiary stock, which has a $300,000 adjusted basis. Market Corporation has a basis in the land ofa. $300,000.b. $400,000.c. $500,000.d. None of these
Business
1 answer:
kykrilka [37]3 years ago
6 0

Answer:

b. $400,000

Explanation:

According to the historical cost principle, the land or fixed assets should be reported in the financial statement with the purchase price or historical price.

In the given situation, the land receiving value is $400,000 and its fair market value or FMV is $500,000 and exchange value is $300,000

So, here the land should be recorded at $400,000. Hence, we ignored the fair market value and the exchanged value

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Bradley Snapp has deposited $5,291 in a guaranteed investment account with a promised rate of 4% compounded annually. He plans t
Julli [10]

Answer:

i dont realky understand the question

7 0
3 years ago
Botosan Factory has budgeted factory overhead for the year at $717,474, and budgeted direct labor hours for the year are 364,200
Mila [183]

Answer:

$652,858

Explanation:

Predetermined overhead rate = Budgeted Overheads ÷ Budgeted Activity

                                                    = $717,474 ÷  364,200

                                                    = $1.97 per direct labor hour

Allocated overheads = Predetermined overhead rate x Actual Activity

                                    = $1.97 x  331,400 direct labor hours

                                     = $652,858

therefore,

The overhead allocated for May is $652,858.

6 0
3 years ago
Three years ago, you invested $3,350.00. Today, it is worth $4,100.00. What rate of interest did you earn
Anastasy [175]

Answer:

6.97%

Explanation:

the formula to be used is

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value  

P = Present value  

R = interest rate  

N = number of years  

$4,100.00 = $3,350.00 x ( 1 + r)^3

divide both sides of the equation by $3,350.00

$4,100.00 / $3,350.00 = ( 1 + r)^3

1.223881 = ( 1 + r)^3

find the cube root of both sides

1.069661 = 1 + r

r = 6.97%

7 0
3 years ago
New items developed for automobiles in the 1997 model year included a safer air bag, which, unlike previous air bags, eliminated
Debora [2.8K]

Answer:

(E) inflated to make

Explanation:

There is a grammatical error, in the sentence as for the words:

inflated, and making the words inflated to make shall be replaced in order to correct the error.

As the event discussed is related to the past that is already it happened that the bag got inflated to make the passenger who is already terrified think, that the car is on fire.

There is a new innovation to correct the past event, where the inflation of bag is related to making the person terrified, and are not two separate transactions, that shall be reported in different phrases.

3 0
3 years ago
(BRAINLIST!!!!!)
zloy xaker [14]

1. FORGIVENESS - Cheryl received a student loan to pursue a degree to become a dental assistant. But unfortunately her school closed down due to legal complications. As Cheryl couldn't complete the course due to no fault of her own, Cheryl need not pay back the loan.


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5 0
3 years ago
Read 2 more answers
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