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soldier1979 [14.2K]
3 years ago
10

ForCo, a foreign corporation not engaged in a U.S. trade or business, recognizes a $3 million gain from the sale of land located

in the United States. The amount realized on the sale was $50 million. Absent any exceptions, what is the required withholding amount on the part of the purchaser of this land?
a. $0

b. $5 million

c. $3 million

d. $300,000
Business
1 answer:
djyliett [7]3 years ago
8 0

Answer:

Correct answer is option c. $3 million.

Explanation:

Step 1. Given information.

  • 3 million gain
  • 50 million sales

Step 2. Formulas needed to solve the exercise.

The withholding amount on the part of the purchaser of this land = Total consideration value * 6%

Step 3. Calculation.

= $50 million *6%

= $3 million

Step 4. Solution.

Therefore correct answer is option c. $3 million.

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sveta [45]

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This amount will be added because it's the amount of overhead directly attributable to the production of wigdets.

Additions of these cost leave the cost of manufacturing at $82,080.

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4 0
4 years ago
If we are moving from a large value to a small value we move the decimal point to the
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8 0
4 years ago
Which of the following is not allowed by scrum refactoring velocity tracking relaease planning hardening sprints
Igoryamba

Answer:

(B) Hardening sprints

Explanation:

Hardening Sprints are not allowed because the subject of hardening should be continuously address throughout normal Sprints.

Or if the question has the following options:

Which of the following is not allowed in Scrum?

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d. Using Planning Poker

Answer:

(B) Hardening sprints

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3 0
4 years ago
An asset that costs $14,400 and has accumulated depreciation of $8,000 is sold for $5,600. What amount of gain or loss will be r
goldenfox [79]

Answer:

C. Loss of $800

Explanation:

Given that

Purchase price = 14400

Depreciation = 8000

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Thus,

Value of asset after depreciation = Purchase price - Depreciation

= 14400 - 8000

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Therefore,

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Answer:

true

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4 0
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