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11Alexandr11 [23.1K]
3 years ago
12

Sky Corp. was a wholly owned subsidiary of Jet Corp. Both corporations were domestic C corporations. Jet received a liquidating

distribution of property in cancellation of its Sky stock when Jet’s tax basis in Sky stock was $100,000. The distributed property had an adjusted basis of $135,000 and a fair market value of $250,000. What amount of taxable gain did Jet, the parent corporation, recognize on the receipt of the property?
Business
1 answer:
Varvara68 [4.7K]3 years ago
3 0

Answer:

The amount of taxable gain os $0, upon the liquidity of the Corporation

Explanation:

Sky Corp. is the wholly owned subsidiary, so , in the process of complete liquidation of the controlled subsidiary, will not recognized any gain or loss into the parent corporation which is Jet Corp.

So, the amount of taxable gain will be $0, which means no gain or loss recognized.

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Mandy’s Packaging Inc. is a multibillion-dollar supplier of packaging materials. One of its salespeople rearranged production sc
daser333 [38]

Answer:

<u>Relationship selling</u>

Explanation:

Relationship selling is focussed more upon successfully building a long term relationship between a seller and a buyer rather than being merely focussed upon effecting a sales through .

The technique emphasizes upon the quality of interaction between the seller and the buyer which shall serve as a basis for develoment of a future relationship between the company and the customer.

This technique is prominent in case of those companies that rely on repetitive purchases on part of the buyer like private instructors. Good relationships may lead to customer loyalty which prompt repetitive purchases at their end.

In the given case, the supplier company's sales person rearranged production schedule so as to accomodate unexpected demand from a major client. Such an action demonstrates company's sales policy with emphasis upon relationship selling.

3 0
3 years ago
Alpha Company has assets of $624,000, liabilities of $262,000, and equity of $362,000. It buys office equipment on credit for $8
Sphinxa [80]

Answer:

The effect is an increase in the balance of assets by $87,000 and  a corresponding increase in the balance of liabilities.

Explanation:

The accounting equation shows the relationship between all the elements of the balance sheet. These are the assets, liabilities and owners equity. It is shown as

Assets = Liabilities + Equity

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Hence asset increases to

= $624,000 + $87,000

= $711,000

Liabilities also increases to

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3 0
3 years ago
Bob Hanson emphasizes that sending MBSC employees to seminars on a regular basis is highly motivating. It’s possible that for so
Charra [1.4K]

Answer:

The correct answer is the option C: The recognition and autonomy offered by attending seminars would result in satisfaction, but employees might also be dissatisfied if pay were poor or their ideas were not valued.

Explanation:

To begin with, the fact that some employees will find the seminars very rich in terms of learning more and therefore to increase their knowledge will stimulate the feeling of self improvement and growth not just in the company but also in their professional careers and that is why they will be more motivated at the time of doing their job but they would obviously feel dissatisfied if the pay is not worthy enough for them or even more if their ideas were not valued as they expected them to be and as the company said to them that will be.

3 0
3 years ago
What types of control systems should a customer and contractor work together to set up and utilize?
Natalka [10]
The client and the contractual worker regularly team up on the setup and utilization of a few task control frameworks. One of these is a correspondences design. Since the client is frequently the beneficiary of interchanges, he needs to advise the temporary worker what he has to know, when he has to know it, and what organization will be generally advantageous. This ought to incorporate standard advance reports. Second is a change control framework. Most ventures will have various changes.
8 0
3 years ago
Highland Mining and Minerals Co. is considering the purchase of two gold mines. Only one investment will be made. The Australian
Triss [41]

Answer:

a) The Net present value of Australian Gold Mine = $466,300

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Explanation:

3 0
3 years ago
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