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
love history [14]
3 years ago
10

Montclair Corporation had current and accumulated E&P of $500,000 at December 31, 20X3. On December 31, the company made a d

istribution of land to its sole shareholder, Molly Pitcher. The land's fair market value was $200,000 and its tax and E&P basis to Montclair was $50,000. Molly assumed a liability of $25,000 attached to the land. The tax consequences of the distribution to Montclair in 20X3 would be:
Business
1 answer:
siniylev [52]3 years ago
3 0

Answer:

The tax consequences of the distribution to Montclair in 20X3 would be a $150,000 gain recognized and a reduction in E&P of $175,000.

Explanation:

The distribution company distinguishes profit on the distribution, which is included in E&P netting of tax and decreases E&P by rhe lands fair market value fewer the liability believed by the shareholders.

Therefore, The tax consequences of the distribution to Montclair in 20X3 would be a $150,000 gain recognized and a reduction in E&P of $175,000.

You might be interested in
Is Self-assessment Income tax or Consumer tax?​
nika2105 [10]

Answer:

I think it's a income tax

4 0
3 years ago
Assuming a customer claim will be granted, what type of response will allow the company to build a better relationship with the
densk [106]

Answer: direct

Explanation:

Assuming a customer claim will be granted, a direct response will allow the company to build a better relationship with the customer.

Direct response marketing is a form of sales technique that is utilized in order to give a reponse on-the-spot. This usually allows prospective customer take instant actions based on the offer by the advertiser. This response sees measurable results instantly.

7 0
2 years ago
One of the workers in Henry's department submitted his two weeks' notice so Henry needs to hire a replacement. The HR department
cupoosta [38]

Answer:

procedure

Explanation:

According to my research on different human resource responsibilities, I can say that based on the information provided within the question there is a procedure that Henry must follow. Like described in the question a Procedure is a set of step by step instructions that must be followed accordingly in order to achieve a certain goal.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

3 0
2 years ago
Suppose an increase in interest rates causes rising unemployment and falling output. to counter this, the federal reserve would
weqwewe [10]
Most likely A) increase money supply, because they are capitalism economy. The federal reserve is in charge of all the country's Capitol, or: resources and money.
(but for a country that is more sympathetic to the people it would be B) because it would increase social security nets like welfare)
8 0
2 years ago
Match each type of area with the correct level of housing prices?
Butoxors [25]

Answer and Explanation:

The matching of the area with the level of housing prices is as follows

Urban = High housing prices

As urban refers to that area in which there is a large population so of course the prices of the houses are high

Exurban = Low housing prices

The exurban is located in the rural areas in which there are less populations as compared to sub

Suburban = Medium housing prices

In this the population is more than the exurban

8 0
3 years ago
Other questions:
  • To maintain public confidence and trust in the financial reporting of companies is the purpose of
    11·1 answer
  • Land of Many Lakes (LML) sells butter to a broker in Albert Lea, Minnesota. Because the market for butter is generally considere
    11·1 answer
  • Meeting clients in person instead of talking with them on the phone can help to reduce _______ when you own your own business.
    8·1 answer
  • Someone who invests in the Vanguard Index 500 mutual fund could most accurately be described as using which approach?A. Active m
    6·1 answer
  • To illustrate the benefits of the Dixie Chopper brand lawn mowers to professional landscapers, the salesperson asks prospects to
    5·1 answer
  • On July 15, 2016, you convert 650,000 U.S. dollars to Japanese yen in the spot foreign exchange market and purchase a six-month
    15·1 answer
  • The Holtzman Corporation has assets of $384,000, current liabilities of $54,000, and long-term liabilities of $79,000. There is
    13·1 answer
  • Beth needs a new roof. She finds Clancy, a roofing contractor, through an ad he posted in the local newspaper. Clancy paid $60 t
    6·1 answer
  • re-thinking oil: compensation for non-production in yasuní national park challenging sumak kawsay and degrowth
    15·1 answer
  • ethan needs to assign his team members the following tasks. one of the team members, gail, is an extrovert. which task is most a
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!