Answer:
c. Christopher will have a dual basis for income tax purposes.
Explanation:
Due to the fact that the basis of Jane in the specific property was higher than the FMV of the property on the specific date that she gave out the property, therefore, the double basis principle will apply to Christopher. In addition, Christoper will not collect any additional basis for the tax paid on the gift. The correct answer is option c.
Answer:
Find a bondholder or purchaser.
Explanation:
A bond issuer is someone who borrows money, in this example, my company.
In order to being able to financiate the construction of a new manufacturing facility for my company, I would have to find a bondholder (or some ofthem) that would lend me all the money, with its pertinent clauses.
I would have to fill those clauses, perhaps its money returning timeline, some finantial records, etc.
The firm will exit or leave the industry as its not making any profits.
<h3><u>CALCULATION OF THE PROFITS</u></h3>
According to the Question,
The firm produces at P = MC
Where we know,
Q = 55 units
P = $4.78
ATC or Average Total Cost = 6.76
AVC or Average Valuable Cost = 3
P > AVC so the firm produces to minimize losses at the MC = P.
Profit = ( P - ATC ) × Q
=( 4.78 - 6.76 ) × 55
= - 108.9
The profit is - 108.9 dollars per minute.
As the firm in the industry is making losses ( a negative profit ) so it will exit the industry in the long run.
To know more about competitive firms, check the given link.
brainly.com/question/28104159
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Answer:
<u>Record the issuance of note.
</u>
November 1, 2021
Dr. Cash 46000
Cr. Note Payable 46000
<u>Record the adjustment for interest.</u>
December 31, 2021
Dr. Interest Expense 460
Cr. Interest Payable 460
(46000*6%)*3/12 = 460
<u>Record the repayment of the note at maturity</u>
Dr. Note Payable 46000
Dr. Interest Payable 460
Dr. Interest Expense 230
Cr. Cash 46,690
(46000*6%)*1/12 = 230
Explanation:
* At the year end the interest expense is accrued and recorded as interest payable.
Answer:
B. $24,000
Explanation:
The pass-through deduction or the section 199A deduction as it is officially called is a reduction by 20 percent of your income tax provided by the new tax law set in place for the 2018 tax year. It is eligible for small business owners who run a pass-through business and whose tax income doesn't exceed $157,500 for singles and $315,000 for married couples.
To calculate the figure, you simply need to find 20% of your business profit. Jennifer has a taxable income of $150,000, which is less than the $157,500 limit to qualify for the pass-through deduction. So her pass through deduction becomes
20% of $100000 + $20,000
= 20/100 x $120,000
= $24,000
Note: Real Estate Investment Trust (REIT) dividend income and qualified Publicly Traded Partnership (PTP) income also are eligible for the pass-through deduction by law, hence the addition of the $20,000.
