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Bumek [7]
3 years ago
13

Greta contributes property to form Unity Corp. and receives all 100 shares of Unity. A year later, Bjorn contributes property an

d receives 20 shares of Unity (total 120 shares of Unity outstanding). Which shareholder will receive deferral treatment under Section 351?
Business
1 answer:
strojnjashka [21]3 years ago
8 0

Answer:

Greta only

Explanation:

The shareholder that will receive the deferral treatment under Section 351 will be Greta

Therefore Immediately after Greta's contribution she will be the person to be in control of 80% or more which means she can controls up to 100% while Bjorn will only controls 16.67% which is (20÷120) after he or she made the transfer in which he may not include his with that of Greta's as a single transfer.

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Purple Feet Wine, Inc., receives an average of $14,000 in checks per day. The delay in clearing is typically four days. The curr
Dominik [7]

Answer:

The correct answer is $56,000.

Explanation:

According to the scenario, the given data are as follows:

Average checks per day = $14,000

Days in clearing = 4 days

Interest rate = 0.018% per day

So, we can calculate the company's float by using following formula:

Company's Float = Average checks per day × Days in clearing

By putting the value in the formula, we get

Company's Float = $14,000 × 4

= $56,000

8 0
3 years ago
Madison Corporation's production cycle starts in the Processing Department. The following information is available for April: Un
charle [14.2K]

Answer:

Equivalent Units of Production :

(1) Materials = 298000

(2) Conversion Costs = 284400

(3) Total = 582400

Explanation:

The Concept of Equivalent Units entails identifying number of completed units in terms of their completion % in the input component or process.

<em>Step 1 : Determine Units Completed and Transferred to Finished Goods</em>

<em>Units in Process = Units Output</em>

Units In Process                                298000

Less Closing Work In Process            34000  

Completed and Transferred             264000 (Balancing figure)

<em>Step 1 : Determine Equivalent Units for each input component</em>

Materials:

Completed and Transferred 100% = 264000×100%= 264000

Closing Work In process 100% = 34000×100%= 34000

Total = 298000

Conversion Costs:

Completed and Transferred 100% = 264000×100%=264000

Closing Work In process 60%=34000×60%=20400

Total =284400

5 0
3 years ago
(Section 5.5)
Elden [556K]

Answer:

$373.10

Explanation:

The principle amount is $350... PV

Interest rates 6.5 % ...r

Duration one year...n

The formula for calculating compound interest

FV = PV x ( 1 + r ) n

Since 6.5 % is compounded twice year:  r becomes 6.5/ 2 and n will n x2

FV = 350(1+0.065 )2

=$350 x 1.06605625

=$350 x 1.066

=$373.10

7 0
3 years ago
"when money specifies the value of something"
d1i1m1o1n [39]
<span>Money provides four key functions for an economy,
1. medium of exchange
2. unit of account
3. store of value
4. standard of deferred payment
"when money specifies the value of something", it is performing a function as a medium of exchange, which is the primary function of money. Medium of exchange means the money is used to conduct transactions.
people use money to buy and sell goods.</span>
6 0
4 years ago
Which form if money carries a value of its own but is not equivalent go actual gold of silver
lana [24]

Answer:

fiat money

Explanation:

because ik.

6 0
4 years ago
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