Answer:
The property will be depreciated using the remaining 3 years of its life after the tax-free incorporation transfer year. This is because Dan had already depreciated the property for 2 years before the transfer.
Explanation:
Sec. 351 allows a tax-free incorporation transfer if certain requirements are met, including that the property must be transferred to Fleck Corporation by Dan in exchange for stock in Fleck Corporation, and, immediately after the exchange, the Fleck Corporation is in control.
The net change in the Cash account balance from these three transactions is $30,000
What is the company's net change in cash account balance?
The net change in company's cash balance is the excess of its cash inflows from sources minus its cash outflows from all sources, in other words, the net change in cash balance from the three transactions is the funds raised long-term debt issuance and the amounts paid for equipment and raw materials
net change in cash balance=$200,000-$150,000-$20,000
net change in cash balance=$30,000
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Answer:
Lowered, improved, increased, choice
Explanation:
Free trade has not produced all of the economic impacts that were originally predicted. At the same time, it is known that global shifts in production and trade have generally lowered consumer cost, improved company profits, and increased product choice.
Answer:
Highly inelastic
Explanation:
Price elasticity of demand is a measure of the demand of a given service or commodity by utilizing it's price change. It can be calculated using the formula;
Price elasticity of demand=%change in quantity demanded/%change in price
%change in quantity demanded=((Final demand-Initial demand)/Initial demand)×100
((299-300)/300)×100=-0.33%
%change in price=12%
12%>0.33%
The change in price is larger than the change in demand, therefor the product is highly inelastic
