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Leto [7]
4 years ago
12

On january 1, year 1, pearl corporation owned 90% of the outstanding stock of seso corporation. both companies were domestic cor

porations. pursuant to a plan of liquidation adopted by seso in march year 1, seso distributed all of its property in september year 1 in complete redemption of all its stock, when seso's accumulated earnings equaled $18,000. seso had never been insolvent. pursuant to the liquidation, seso transferred to pearl a parcel of land with a basis of $10,000 and a fair market value of $40,000. how much gain must seso recognize in year 1 on the transfer of this land to pearl?
Business
1 answer:
sergey [27]4 years ago
5 0

Answer:

$30,000

Explanation:

Data provided in the question:

Accumulated earnings = $18,000

Basis for land = $10,000

Fair market value = $40,000

Now,

Since, seso is under liquidation all the assets will be sold and stocks to be settled.

Thus,

Gain seso must recognize in year 1 on the transfer of this land to pearl

= Fair market value of the land - Basis for land

=  $40,000 - $10,000

= $30,000

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Explain a situation where user would transpose data on a spreadsheet in Microsoft Excel. Give at least one example to illustrate
GuDViN [60]

Answer:

You can do this by copying, pasting, and using the Transpose option. But doing that creates duplicated data. If you don't want that, you can type a formula instead using the TRANSPOSE function. For example, in the following picture the formula =TRANSPOSE(A1:B4) takes the cells A1 through B4 and arranges them horizontally.

Step 1: Select blank cells

First select some blank cells. But make sure to select the same number of cells as the original set of cells, but in the other direction. For example, there are 8 cells here that are arranged vertically:

Cells in A1:B4

So, we need to select eight horizontal cells, like this:

Cells A6:D7 selected

This is where the new, transposed cells will end up.

Step 2: Type =TRANSPOSE(

With those blank cells still selected, type: =TRANSPOSE(

Excel will look similar to this:

=TRANSPOSE(

Notice that the eight cells are still selected even though we have started typing a formula.

Step 3: Type the range of the original cells.

Now type the range of the cells you want to transpose. In this example, we want to transpose cells from A1 to B4. So the formula for this example would be: =TRANSPOSE(A1:B4) -- but don't press ENTER yet! Just stop typing, and go to the next step.

Excel will look similar to this:

=TRANSPOSE(A1:B4)

Step 4: Finally, press CTRL+SHIFT+ENTER

Now press CTRL+SHIFT+ENTER. Why? Because the TRANSPOSE function is only used in array formulas, and that's how you finish an array formula. An array formula, in short, is a formula that gets applied to more than one cell. Because you selected more than one cell in step 1 (you did, didn't you?), the formula will get applied to more than one cell. Here's the result after pressing CTRL+SHIFT+ENTER:

6 0
2 years ago
You expect to receive $20,000 at graduation one year from now. you plan on investing it at 6 percent until you have $100,000. ho
Free_Kalibri [48]
The answer will be $120,000
4 0
3 years ago
Equity securities acquired by a corporation which are accounted for by recognizing unrealized holding gains or losses are Group
yawa3891 [41]

Answer

Associate: where a company has holdings of between 20% and 50%.

Minority Interest: where a company has holdings of less than 20%

Parent Company: where a company has holdings of more than 50%.

Explanation:

<u>An associate company </u>(or associate) is a company that owns a business beyond 20% and not more than 50%. In business valuation such a company that has invested significantly in the shares of another company will have voting rights in the board of the acquired company.

<u>Minority Interest</u> is the term used to describe the investments of one company in another company, when such investments are less than 20% of the total value of the acquired company.

<u>Parent Company</u> is a company that owns more than half (50%) of the shares or value of another company.

4 0
3 years ago
If Highway 55 Studios can reduce fixed expenses by ​, by how much can variable expenses per unit increase and still allow the co
solniwko [45]

Answer:

$2.25

Explanation:

Please check the attached image for the full question used in answering this question

Breakeven sales is the quantity sold at which net income is equal to zero.

Breakeven sales = fixed cost / (price per unit - variable cost per unit )

$1,215,000 / ($80 - $35) = 27,000

If Highway 55 Studios can reduce fixed expenses by $60,750, variable cost =

27,000 = ($1,215,000 - $60,750) / ($80 - V)

27,000 = 1,154,250 / ($80 - V)

V = $37.25

Variable cost would increase by  : $37.25 - $35 = 2.25

8 0
4 years ago
In order to communicate clearly with a resident who has hearing loss, the resident assistant should:
Tom [10]
The resident assistant should be patient and try to listen carefully when it comes to understanding thr person's needs and wants.
8 0
3 years ago
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