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BabaBlast [244]
3 years ago
15

Bristlebird Corporation (E&P of $700,000) has 3,000 shares of common stock outstanding. Juan owns 1,500 shares and his wife,

Roberta, owns 1,500 shares. Juan and Roberta each have a basis of $90,000 in their Bristlebird stock. In the current year, Bristlebird Corp. redeems 1,000 shares from Juan for $250,000. With respect to the distribution in redemption of the Bristlebird stock:
a. Juan has dividend income of $250,000

b. Juan has dividend income of $190,000

c. Juan has a capital gain of $250,000

d. Juan has a capital gain of $190,000

e. None of the above
Business
1 answer:
Goryan [66]3 years ago
6 0

Answer:

A: Juan has dividend income of $250,000

Explanation:

Related party = dividend (extent of E&P)

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What is the term that describes what a business has to pay to correct defective products?
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The primary difference between variable costing and absorption costing is
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The correct answer is letter "D": in absorption​ costing, fixed manufacturing overhead is a product cost.

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The quantity demanded of cereal increased from 1,350 to 1,700 when the price of milk decreased from $2.05 to $1.65. What is the
Iteru [2.4K]

Answer:

-1.33

Explanation:

Cross price elasticity of demand measures the responsiveness of quantity demanded of good X to changes in price of good Y.

Cross price elasticity of demand = percentage change in quantity demanded of good X / percentage change in price of good Y

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8 0
4 years ago
A company understated its ending inventory balance by $5,000 in 2018. What impact will this error have on cost of goods sold and
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Answer:

COGS overstated for 5,000

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<em>The COGS will be overstated  for the same ammount,</em> that is because of the inventory identity.

$$Beginning Inventory + Purchase = Ending Inventory + COGS

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