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goldfiish [28.3K]
3 years ago
13

Martin transfers real estate with an adjusted basis of $260,000 and fair market value of $350,000 to a newly formed corporation

in exchange for 100% of the stock. The corporation assumes the liability on the transferred real estate in the amount of $300,000. Determine Martin’s recognized gain on the transfer and the basis for his stock.
Business
2 answers:
sleet_krkn [62]3 years ago
4 0

Answer:

Therefore, the gain on the transfer is $40,000

Explanation:

Calculation of Martins gain

Particulars                                                  Amount

Liability on the transferred real estate    $300,000

Less: adjusted real basis value                $260,000

Recognized gain                                        $40,000

Therefore, the gain on the transfer is $40,000

katrin [286]3 years ago
3 0

Answer:

$40,000

Explanation:

We can calculate recognized gain on the transfer and basis for his stock just by deducting adjusted basis value from liability on the transfered real estate.

Calcuation

iability on the transfered real estate        $300,000

less: adjusted basis value                       ($260,000)

Gain recognized                                        $40,000

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kolezko [41]

Answer:

in the settings

Explanation:

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For instant deposit option in their QuickBooks payment account, a customer has to --

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3 years ago
The Boat Company has a capital structure of 30 percent riskless debt and 70 percent equity. The assumed tax rate is 23 percent.
mash [69]

Answer: 0.68

Explanation:

Using the measures given, the equity beta can be calculated as:

Equity beta = Asset beta * (1 + (1 - Tax rate) * (Debt/Equity)

= 0.9 * ( 1 + ( 1 - 23%) * (30% / 70%)

= 1.593 * 0.3/0.7

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3 years ago
Buying a bond is similar to which of the following?​
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6 0
3 years ago
Read 2 more answers
Using mental math, the approximate tip to leave for a bill of $81. 79, if you tip 15% would be _____. A. $8. 20 b. $10. 30 c. $1
nordsb [41]

The approximate tip for a bill of $81.79 would be $12.30 when the tip is 15% of the bill amount.

<h3>How to calculate tip amount?</h3>

Tip is the extra amount paid over a bill for the services provided by the staff. The tip when calculated as a percentage over the bill, the percentage rate is to be multiplied by the bill amount.

Given:

\rm Bill\:amount = \$81.79\\\\Rate\:of\:tip = 15\%

The amount of tip will be calculated by calculating 15% of the bill amount.

\begin{aligned} \rm Amount \:of \:tip &= \$81.79 \times 15\%\\\\&= \$81.79 \times \dfrac{15}{100}\\\\&= \$12.2685 \end

The approximate value of tip will be $12.30.

Therefore, option c is correct.

Learn more about the topic here:

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7 0
2 years ago
In 2019, Ava, an employee, who files single, has AGI of $58,000 and incurred the following miscellaneous itemized deductions thi
SOVA2 [1]

Answer: $1,695

Explanation:

GIVEN THE FOLLOWING ;

miscellaneous itemized deduction for the year;

Home office expenses = $1,200

Union dues and work uniforms = $350

Unreimbursed employee expenses = $415

Gambling losses to the extent of gambling winnings = $890.

Value of miscellaneous itemized deduction is :

Miscellaneous itemized deduction = [(Home office expenses + Union dues and work uniforms + Unreimbursed employee expenses) – 2 % of Adjusted Gross Income + Gambling losses to the extent of gamble winnings]

[($1,200 + $350 + $415) - (0.02 × 58,000) + $890]

[$1,965 - $1160 + $890]

$1,695

6 0
3 years ago
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