Answer:
Explanation:
a. . What gain or income, if any, will the parties recognize on the transfer?
It should be noted that a gain or a loss will not be recognized when a property is being transferred to a company in order for the said property to be exchange for a stock. Therefore, none of the parties that are involved will get any gain or income.
b. What basis do Ann and Bob have in the stock in Robin Corporation?
Based on the question, Ann will have a basis of $150,000 while Bob will get ($30,000 + $15,000) = $45,000 in the stock in Robin Corporation.
c. What is Robin Corporation's basis in the property and services it received from Ann and Bob?
Robin Corporation's basis in the property and services it received from Ann and Bob is a value of $150,000 for the assets of Ann and $30,000 for Bob's asset.
Answer:
total cost = 12,000
Explanation:
From the formula of accounting profit, we can solve for total cost:
Accounting profit = total revenue - totoal cost
Firm X
produce 1,000 units and sell them at $15 each
total revenue: 1,000 units x $15 = 15,000
It has an accounting profit for 3,000
We plug this values into the formula of accounting profit
Accounting profit = total revenue - totoal cost
3,000 = 15,000 - total cost
15,000 - 3,000 = total cost
total cost = 12,000
Answer: The answer is given below
Explanation:
An annual report is a report that is comprehensive about the activities of a company in the previous year. The aim of a company publishing its annual report is to give the shareholders and every other interested person information about activities of the company and its financial performance.
We are told that Kaufman calculated the $83 million accumulated other comprehensive income in 2021. This was calculated as the accumulated other comprehensive income in 2020 plus the change in the net unrealized gains on the AFS investments, the net of tax of $12 in 2021 plus the other net income of 2021. This can be represented mathematically as:
= $60,000,000 + $24,000,000 + (-$1,000,000)
=84,000,000 - $1,000,000
=$83,000,000
= 83 million
Indian currency value . and law and order RBI role
Answer:
$64,000
Explanation:
In order to be deductible, a business expense must be both ordinary and necessary. Being ordinary means that it is a plausible expense for this business, since the expense in question is related to accounting services, it is ordinary. Being necessary means that the expense is the minimum required and is appropriate and helpful to the business. In this case, all of the expense was not required, therefore, only $64,000 (the reasonable market value for the services provided) are deductible.
