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pogonyaev
3 years ago
6

ROBERTA transfers property with a tax basis of $400 and a fair market value of $500 to a corporation in exchange for stock with

a fair market value of $350 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $150 on the property transferred. What is the amount realized by Roberta in the exchange? A. $500 B. $400 C. $350 D. $250
Business
1 answer:
Neporo4naja [7]3 years ago
5 0

Answer:

correct option is A. $500

Explanation:

given data

tax basis = $400

fair market value = $500

fair market value = $350

liability = $150

solution

we get here  amount realized by Roberta in the exchange that is express as

= fair market value of the stock receive +  from the liability  ...................1

amount realized = $350 + $150

amount realized = $500

so correct option is A. $500

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A pizza deliverer who is in an accident while en route to deliver a pizza for a restaurant has: a. no liability for the accident
sleet_krkn [62]

Answer:

B is the answer

Explaination step by step:

6 0
3 years ago
Based in Fairmont, WV, the Internet Fraud Complaint Center is run by the FBI and the National White Collar Crime Center with the
9966 [12]

The Internet Fraud Complaint Center, run by the FBI and the National White Collar Crime Center, indeed analyzes fraud-related complaints.

<h3>What is the Internet-Fraud Complaint Center?</h3>

The Internet-Fraud Complaint Center, based in Fairmont, WV, handles the following internet-related complaints:

  • Intellectual Property Rights ( IPR ) matters
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Learn more about the Internet Frauds at brainly.com/question/3422329

5 0
2 years ago
A recent college graduate has obtained employment at a major financial institution in the big city. Since she just graduated, sh
Romashka-Z-Leto [24]

Answer:

$2,200

Explanation:

Calculation to determine what should this recent grad be willing to pay in rent per month

First step is to calculate the work days

Using this formula

Work days = 5 days per week x 1 hour to work+ 1 hour from work

Let plug in the formula

Work days = 5 days a week x 2 hours

Work days= 10 hours

The second step is to calculate the monthly commuting in a standard month of 4 weeks

Monthly commuting = 4 x 10 hours

Monthly commuting = 40 hours

Third step is to calculate hourly how much she will be able to maximize

Amount maximize = $25 x 40 hours (commuting hours)

Amount maximize= $1,000

Now let determine The total she will be willing to pay in rent

Rent per month= $1,200 + $1,000

Rent per month=$2,200

Therefore what should this recent grad be willing to pay in rent per month is $2,200

4 0
3 years ago
You are given the following information for Sookie's Cookies Co.: sales = $51,200; costs = $39,600; addition to retained earning
ipn [44]

Answer:

The depreciation expense for the company is $4615.

Explanation:

profit before depreciation and tax = (sales - cost) - interest expense

= ($51,200  - $39,600)  - $1,560  

= $10040

Addition to retained earnings = $2,320

dividends paid = $935

tax rate = 40 percent.

Addition to retained earnings = [(Profit before depreciation and tax - depreciation expense ) * (1- Tax)] - dividend paid

$2320 = [($10040 - depreciation expense)* (1 - 0.40)] - 935

$3255 = ($10040 - depreciation expense)* 0.60

$5425 = $10040 - depreciation expense

Depreciation expense = 10040 - 5425

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Therefore, The depreciation expense for the company is $4615.

5 0
3 years ago
taxes: a. are unlikely to affect market supply and demand b. are copmulsory payments to governments c. never affect efficiency i
Crank

Answer:

The answer is B.

Explanation:

Taxes are compulsory payment levied by a government of a country. It is not voluntary.

We have direct and indirect tax.

Direct taxes are those taxes that are imposed on individual and company. A company is charged at a rate after its profit is known. An individual earning salary is charged before the salary is collected.

Indirect taxed are those levied on goods and services. These types of taxed are pass on to the consumers in form of price of goods.

Tax is mandatory for everyone. Its a revenue for government

5 0
3 years ago
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