Answer:
$150,000
Explanation:
This machine is to be classified as an asset held for sale. The assets held for sake are carried on the Statement of Financial Statement at the amount lower of Fair Market Value and the Carrying Amount.
Your share of the sales proceeds from the sale of a home you had inherited should be reported on Schedule D in the Investment Income section of TaxAct. You would enter "Inherited" as the date the property was acquired, then enter the cost basis, date of sale, and the sales proceeds.
Answer:
The correct answer is option C.
Explanation:
Dividend distribution in the first year = 120,000 shares of outstanding common stock
Each right was exercisable.
Though none of the rights have been exercised.
The shares have been redeemed by paying each stockholder=$0.10/right
Reduction in the West's stockholder's equity
=Number of shares*amount paid for redemption
=120,000*$.10
=$12,000
So, option C is the right answer.
Answer: $12,113.14
Explanation:
Find out the future value of each payment 20 years from now then sum up the values.
Year 1:
= 250 * ( 1 + 15%)¹⁹
= $3,557.94
Year 2:
= 300 * ( 1 + 15%)¹⁸
= $3,712.636
Year 3:
= 450 * ( 1 + 15%)¹⁷
= $4,842.5688
Future value of all:
= 3,557.94 + 3,712.636 + 4,842.5688
= $12,113.14
