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Ann [662]
3 years ago
14

Jonas is a 60% owner of Ard, an S corporation. At the beginning of the year, his stock basis is zero. Jonas's basis in a $33,200

loan made to Ard and evidenced by Ard's note has been reduced to $0 by prior losses. During the year, Jonas's net share of Ard's taxable income is $16,600. At the end of the year, Ard makes a $24,900 cash distribution to Jonas. After these transactions, what is Jonas's basis in his stock, and what is his basis in the debt? What is Jonas's recognized capital gain?
Business
1 answer:
olya-2409 [2.1K]3 years ago
6 0

Answer:

Capital gain $24,900

Explanation:

Jonas's Stock basis $33,200

Less $8,300

Capital gain $24,900

$24,900 cash distribution - Net share of Ard's taxable income $16,600= $8,300

Therefore Jonas's recognized capital gain

of $24,900

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Answer:

Vehicle registration

Explanation:

Vehicle registration reoccurs annually, the other costs are one time.

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3 years ago
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Conventional wisdom says one should measure a manager's investment performance over an entire market cycle. What arguments suppo
White raven [17]

Answer:

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The forecasting ability of managers, on the balance of probability, will vary for different cases, with a helicopter view of providing a more accurate measure of their performance.

However, if it was possible to analyse the market for volatility and adjust our forecasts it becomes unnecessary to look at and analyse all the information from a 12-month cycle before coming to terms about the performance of the manager.

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4 0
3 years ago
Which of the following forms provides the broadest coverage under an employee theft coverage form?
Anvisha [2.4K]

Answer: (D) Blanket position

Explanation:

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The coverage is basically base on the different types of designed position and may also differ according to the different types of positions.      

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8 0
3 years ago
Mark Achin sells 3,600 electric motors each year. The cost of these is $200 each, and demand is constant throughout the year. Th
netineya [11]

Answer:

A) 100

Explanation:

total sales 3,600 units

cost per unit $200

cost of placing order $40

holding cost $20 per year

working days 360 per year

lead time 5 days

If Mark orders 200 units each time, his average inventory ?

daily sales = total sales / working days = 3,600 / 360 = 10 units per day

number of orders per year = 3,600 / 200 = 18

Mark places one order every = 360 days / 18 orders = 20 days

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I assume that mark has some type of safety stock that allows him to hold enough inventory to cover for the 5 day lead time.

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3 years ago
Elise is the manager in the finance department for a company that competes in a service industry. If her company is like most co
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Answer:

This statement is False

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