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Aleks04 [339]
2 years ago
11

Gabriella and Juanita form Luster Corporation. Gabriella transfers cash of $50,000 for 50 shares of stock, while Juanita transfe

rs information concerning a proprietary process (basis of zero and fair market value of $50,000) for 50 shares of stock
a. Because Juanita is required to recognize gain on the transfer, Gabriella also must recognize gain.

b. Juanita must recognize gain of $50,000.

c. Neither Gabriella nor Juanita will recognize gain on the transfer.

d. The transfers to Luster are fully taxable to both Gabriella and Juanita.

e. None of these choices are correct.
Business
1 answer:
hodyreva [135]2 years ago
4 0

Answer:

c. Neither Gabriella nor Juanita will recognize gain on the transfer.

Explanation:

This is because gabriella transfers cash of 50,000 and does not earn any gain on it, so no gain is recognized.

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Wanda has graduated from community university (cu) and after nine months has failed to find a job. she graduated with a degree i
Blababa [14]

CU's attorneys should file a <u>motion for summary judgement</u>, which asks the judge to make a ruling on the facts of the case alone without going to a full trial.

3 0
3 years ago
Blue Spruce University sells 4,500 season basketball tickets at $140 each for its 12-game home schedule. Give the entry to recor
STatiana [176]

Answer:

a. Total revenue received:

= 4,500 * 140

= $630,000

Date                 Account Title                                           Debit              Credit

XX-XX-XXXX  Cash                                                     $630,000

                        Unearned revenue                                                     $630,000

Revenue is unearned because the games have not been played yet therefore Blue Spruce University has not provided the service for which it was paid and has not earned the revenue.

b. The revenue per game is:

= 630,000 / 12 games

= $52,500

Date                 Account Title                                           Debit              Credit

XX-XX-XXXX   Unearned Revenue                             $52,500

                        Revenue - Ticket Sales                                               $52,500

8 0
3 years ago
If you deposited​ $100 now ​(nequals​0)and​ $200 two years from now ​(nequals​2)in a savings account that pays​ 10% annual​ inte
Natali5045456 [20]

Answer:

The correct answer is: "You would have $589 the end of year 10".

Explanation:

The logics of the statement remains in the amount of money remained after 10 years of savings with a 10% annual interest. This means that, after you deposit $100 now (nº 0), on the first current year you would have ended up with $110, although in the second year (nº 2) you would have made a deposit of $200, which means you would have made total earnings of $310, plus the annual interest of $31. After the second year, all subsequent ones wound count on with an annual interest of $31, which means that at end of year 10 you would have reached the amount of $589.

(ps: mark as brainliest, please?!)

7 0
3 years ago
Click this link to view O*NET’s Skills section for Film and Video Editors. Note that common skills are listed toward the top, an
olasank [31]

Answer:

B, C, and E

Explanation:

6 0
2 years ago
Read 2 more answers
You are planning to buy 2019 MINI Cooper on a loan. Price of the car is $26,000. You are planning to make monthly payments for t
Sergeu [11.5K]

Answer:

$1,223.91

Explanation:

As per the concept of time value of money, the value of money today is more than the value of money tomorrow.

Given:

Price of car = $26,000

Interest rate 12%, compounded monthly

Tenure = 2 years

Now, Price of the car is the value of money today to purchase the car. So, while computing the monthly payment for car $26,000 will be considered as present value.

Monthly payment for car can be computed easily using Microsoft excel.

Use the following mentioned formula to calculate the monthly payment.

"=PMT(rate,nper,pv,[fv])"

wherein,

Rate = 12%/2 (because it has been compounded monthly)

nper = 2*12 (because 2 years are to be compounded monthly.)

Pv = $26,000 (as mentioned earlier)

Since, there is no Fv so it blank.

5 0
3 years ago
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