Answer:
The stockholder must report a total income of:
$15,000 (cash) + $26,000 (fair market value of the bond) = $41,000
Nonmonetary dividends have to be recognized at the fair market value of the assets that are distributed. Nonmonetary dividends are usually referred to as property dividends. Cash is recognized at its face value.
Answer:
$10,800
Explanation:
What Jonathan took home was after paying the commission which means that the amount is 94% because 6% is the commission paid. This means that 6% of the amount can be found by:
6% of the Gross amount (per-commission)
= Amount * %age we want / %age we are at = ($423000 * 6%/94%) = $27,000
And out of this $27000 the amount she received is 40% so 40 percent is $10,800 ($27000 * 40%).
