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kodGreya [7K]
3 years ago
8

Luciana, a nonshareholder, purchases a condominium for her employer for $85,000. The fair market value of the condominium is $12

0,000. What is Luciana’s basis in the condominium and the amount of any income as a result of this purchase?
Business
1 answer:
krok68 [10]3 years ago
5 0

Answer:

Luciana’s basis in the condominium is $120000.

Explanation:

The transfer or sale of property by the employer to the employee at less than the fair market value then it is considered as the compensation income or dividend income. However, it should be included in the income. The difference in cost and fair market value ($120000 - $85000 = $35000) is considered as the gross income which is taxable for the year.

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Answer:

that means what

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3 years ago
The Porch Cushion Company manufactures foam cushions. The number of cushions to be produced in the upcoming three months follows
yKpoI14uk [10]

Answer: 25,200 pounds

Explanation:

Your question is incomplete as it lacked the first part. I attached a completion that I found.

The company has a policy that the ending inventory of foam each month must be equal to 30% of the following month's expected production needs.

This means that in August, the Opening inventory will be 30% of what was is needed in August and the Closing Inventory will be 30% of what is needed in September.

Remember that each cushion requires 2 pounds of foam as stuffing.

Pounds required in August

= 12,000 cushions * 2

= 24,000 pounds

Opening Stock

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= 7,200 pounds

Closing stock

= 30% * ( 14,000 * 2)

= 8,400 pounds.

Foam needed to be purchased in August = Pounds required tonbe produced + Closing Stock - Opening Stock

= 24,000 + 8,400 - 7,200

= 25,200

25,200 pounds of foam are what The Porch Cushion Company needs to purchase in August.

7 0
3 years ago
What is the main goal of a six sigma implementation?
ki77a [65]
Overall improvement of quality.

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5 0
3 years ago
) suppose that currency in circulation is $600 billion, the amount of checkable deposits is $900 billion, and excess reserves ar
Inessa05 [86]
Money supply = Currency in circulation + Checkable deposits.=600 + 900 = 1500 Billion

Current deposit ratio = Currency in Circulation/ Checkable deposits. = 600/900 = .667

Excessive reserve ratio = Excess Reserves/Checkable deposits.= 15/900 = .0167

Money multiplier = (1 + C)/(rr + ER + C)= (1 + .667)/ (.0278 + .0167 + .667) = 2.343
4 0
3 years ago
Read 2 more answers
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Explanation:

First we need to understand what activities are performed by human resource management. They are:

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According to the text, none of these activities were performed by Sam on that particular day. What we can analyze is that during the working day, there were some situations that distracted Sam and prevented him from performing tasks efficiently.

He did not know how to properly manage the time to carry out the proposed activities, which were attempts to execute projects and priority by the integration of the objective management program (MBO), but the plans were never put into action by Sam, because he did not. there was no procedure for conflict resolution at work and did not share your work

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