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
miskamm [114]
3 years ago
10

Janice and Thom form Level Corporation. Janice transfers equipment (worth $60,000, basis of $40,000) for 50% of the stock in Lev

el. Thom transfers inventory (worth $20,000, adjusted basis of $15,000) and provides services worth $40,000 for 50% of the stock.
Because this transaction_______(meet or not) the control of the corporation requirement, Janice has income of $_______and Thom has income of $______.
Business
1 answer:
WINSTONCH [101]3 years ago
6 0

Answer:

Because this transaction MEET the control of the corporation requirement, Janice has income of $0 and Thom has income of $

Explanation:

Based on the information we were told that Thom provide service that is worth $40,000 which means that the amount of $40,000 is Thom income but we were not told that Janice has an income, which means that Janice will have an income of $0.

Hence, Because this transaction MEET the control of the corporation requirement, Janice has income of $0 and Thom has income of $

40,000.

You might be interested in
The individual firm in a purely competitive labor market faces:
Reptile [31]

Answer:

The correct answer is D. perfectly elastic labor supply curve and a downsloping labor demand curve.

Explanation:

The basis of the model is the assumption that no player in the market is large or strong enough to be able to control the industry. There are many buyers and sellers, and each one is small. Companies can sell any amount of production at market prices. Companies in this form of market face a horizontal demand curve, and all companies produce a homogeneous product.

A large number of small sellers and buyers exist in this type of market. No entity is so powerful that it can change the face or direction of the industry. No company can produce any control over the price or quantity of the product. Although each company increase or decrease prices and production, the industry as a whole remains unchanged.

8 0
3 years ago
Which of the following types of business ownership has the advantages of pass-through taxation and liability protection? A. A so
nikklg [1K]
Your answer is LLC so it would be B. IM writing this long because i have to 
4 0
4 years ago
Read 2 more answers
Based on the information provided by this map, which body of water was most likely the center of roman trade
Mademuasel [1]
The Mediterranean Sea
8 0
4 years ago
The reserve requirement is 20%. Leroy receives $1,000 as a graduation present and deposits the money in his checking account. Th
lesantik [10]

Answer:

d.$5,000

Explanation:

In order to find the maximum amount of possible expansion in the money supply we will have to find the money multiplier. The formula for the money multiplier is

1/reserve ration =1/0.2=5

Now that we know that the multiplier is 5 we will multiply is by 1000 which is the initial deposit, to get the total possible expansion in the money supply, 1000*5= 5000

8 0
3 years ago
The primary measure of the economy's performance is its annual total output of goods and services, which is called its
Verizon [17]

The primary measure of the economy's performance is its annual total output of goods and services, which is called gross domestic product or GDP.

Gross Domestic Product (GDP) is the total value or market value of all goods and services produced domestically within a given period of time. It serves as a comprehensive scorecard for the economic health of a particular country as a broad measure of gross domestic product.

Gross Domestic Product (GDP) is the value of domestically produced goods and services. Gross National Product (GNP), on the other hand, is the value of all finished goods and services owned by the citizens of a country, whether or not they are manufactured in that country.

Learn more about GDP here: brainly.com/question/1383956

#SPJ4

6 0
2 years ago
Other questions:
  • Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows:
    13·1 answer
  • Smith Company had $1,200 in office supplies at the beginning of the fiscal year. At the end of the fiscal year, Smith Company di
    10·1 answer
  • The definition of supervisor as "any individual having the authority to hire, transfer, suspend, recall, or discipline other emp
    6·1 answer
  • A corporation is a type of partnership that?
    6·1 answer
  • Mrs. Smith operates a business in a competitive market. The current market price is $8.10. At her profit-maximizing level of pro
    12·1 answer
  • Ace Company borrowed $10,000 from Fair Rates Bank by signing a two-year note payable. Ace's operating cycle is 14 months. This n
    9·1 answer
  • What skills will a manager need to communicate with new employees?
    7·2 answers
  • Suppose you deposit ​$2 comma 0002,000 cash into your checking account. by how much will checking deposits in the banking system
    7·1 answer
  • Irene Watts and John Lyon are forming a partnership to which Watts will devote one-half time and Lyon will devote full time. The
    6·1 answer
  • URGENT: Creating and using a checklist makes home maintenance and repair projects more _______. (10 letters)
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!