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Sergio039 [100]
3 years ago
13

In 2019, Dan transferred 5-year property to Fleck Corp. in a tax-deferred Section 351 transaction. Fleck took Dan's adjusted bas

is in the property. Dan originally placed the depreciable property in service in 2017. What year of the depreciation schedule will Fleck use to depreciate the property
Business
1 answer:
irina1246 [14]3 years ago
7 0

Answer:

The property will be depreciated using the remaining 3 years of its life after the tax-free incorporation transfer year.  This is because Dan had already depreciated the property for 2 years before the transfer.

Explanation:

Sec. 351 allows a tax-free incorporation transfer if certain requirements are met, including that the property must be transferred to Fleck Corporation by Dan in exchange for stock in Fleck Corporation, and, immediately after the exchange, the Fleck Corporation is in control.

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Leaf Co. purchased from Oak Co. a $20,000, 8%, 5-year note that required five equal annual year-end payments of $5,009. The note
Veronika [31]

Answer:

b. $5,560

Explanation:

The computation of the total interest revenue is shown below:

The five equal annual year-end payments = $5,009

For five years, the total amount is

= $5,009 × 5 years

= $25,045

And, the present value of recording the note is $19,485

So, the  total interest revenue earned would be

= Five years amount - present value of recording the note

= $25,045 - $19,485

= $5,560

4 0
3 years ago
What is total amount spent on wages and salary before any tax is being taken? [those ernings above £40000 are paying 40% income
vodka [1.7K]

Answer: hello your question is open ended hence I will give you a more general answer

answer : $12,000 * number of workers  or $24,000 * number of workers

Explanation:

Income taxes are taxes been levied directly on the  income earned by the tax payer.

According to Tax rules there is a certain amount of income an individual would have to earned before any tax will be taken, incomes below $12,000  are tax free ( for singles ) and $24,000 for married individuals ; Hence the Total amount spent on wages and salary before tax is being taken = $12,000 * number of workers or $24,000 * number of workers . ( unless otherwise stated )

3 0
3 years ago
Which of the following management orientations accurately characterizes a company that bases its decisions primarily on market r
Aleonysh [2.5K]

Answer: Geocentric orientation

Explanation:

The management orientation that accurately characterizes a company that bases its decisions primarily on market research is the geocentric orientation.

A company that uses a geocentric orientation sees the whole world as a global market. We should note that a geocentric company makes its products and develops a marketing mix that's standardized for the global market.

7 0
2 years ago
The level of entrepreneurial activity in a nation is __________ the nation's level of economic productivity.
maria [59]

The level of entrepreneurial activity in a nation is positively related to the nation's level of economic productivity.

<h3>What is economic productivity?</h3>

Productivity is the proficiency of creation of labor and products communicated by some action.

Estimations of economic productivity are many times communicated as a proportion of a total result to a solitary info or a total info utilized in a creation cycle There are various meanings of productivity (counting those that are not characterized as proportions of result to include) and the decision among them relies upon the reason for the productivity estimation as well as information accessibility.

Productivity is a pivotal consider the creation execution of firms and countries. Expanding public productivity can increase living expectations since all the more genuine pay works on individuals' capacity to buy labor and products.

Therefore economic productivity maintain the level of entrepreneurial activity.

Learn more about economy here:

brainly.com/question/2421251

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4 0
1 year ago
As she prepared financial documents to be discussed at her company's
Lelu [443]

Answer: c) Full Disclosure Principle

Explanation:

The Full Disclosure Principle is a principle in accounting that tries to reduce any information asymmetry between a company and the people who are to have access to their financial statement.

It does so by requiring that all relevant information to the financial statements such as financial overviews for the period are added to the statements so that the readers can understand the transactions that took place as well as the accounting methodology used.

8 0
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