Answer:
Who is Hired and Fired
Explanation:
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Answer:
Given that,
Calloway paid for the machine = $240,000
Machine leasing to zone = $39,000 per year
Rate of Return = 9%
Present value of the lease payments = $240,000
Therefore, the interest entry on December 31, 2018 is as follows:
Interest receivable A/c Dr. $18,090
To interest revenue $18,090
(To record interest on December 31, 2018)
Workings:
Interest = [$240,000 - $39,000] × 9%
= $18,090
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Answer:
What is Swan’s taxable gain on the distribution of the cottage?
Fair market value of property = 200000
Less: adjusted basis of property= 115000(150000-35000)
Taxable gain on distribution = 85000
What is Swan's current E&P after the distribution on 12/31/13?
Swans current E&P = 300000
Add: taxable gain on distribution = 85000
Less: distribution made = 165000(200000-35000)
After distribution E&P = 220000
What is the taxable dividend to the shareholder (if any)?
Taxable dividend to shareholders = 200000-35000 = 165000
What is the shareholder's basis in the cottage?
Shareholders basis is FMV of property i.e. 200000
Answer:
Explanation:
10 Characteristics of a Successful Entrepreneur
Creativity.
Professionalism.
Risk-taking.
Passion.
Planning.
Knowledge.
Social Skills.
Open-mindedness towards learning, people, and even failure.