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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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...... standard information technology interfaces are defined in the MILITARY INTEROPERABILITY PROTOCOL. Interoperability refers to the ability of different military organisation or department to conduct joint operation. The secure communication interoperability protocol is a national standard for communication among military personnel. 
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Exports of tin and silver were the mainstays of the _______ economy for many decades. However, today, as the market for tin has
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8 0
3 years ago
Read 2 more answers
Accompanying the bank statement was a debit memo for bank service charges. On the bank reconciliation, the item is.
77julia77 [94]

Accompanying the bank statement was a debit memo for bank service charges. On the bank reconciliation, the item is a deduction from the balance per the company's records.

<h3>What is a bank statement?</h3>

Generally, Bank service charge refers to the fees that the bank levies against the company for the company's transactions involving its bank account.

This is shown as a deduction on the company's bank statement as reported by the bank, but it has not yet been recorded in the company's records.

Along with the bank statement, there was a debit memo for the bank service charges that were included. According to the records of the company, the item will be deducted from the total balance on the bank reconciliation.

Read more about bank statement

brainly.com/question/22786262

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6 0
1 year ago
A town's garbage trucks accidentally sideswiped two parked automobiles in the fiscal year ended December 31, 2019. One case was
asambeis [7]

Answer:

The answer is "$13,000".

Explanation:

In the given question, From December 31, 2019, the sum should also be $13,000 as just a liability for both the general fund. Its first village owner is $3000 as well as the second villager is $10,000, because their contingent liability is registered to a fair degree, that's why its correct answer is "$13,000".

7 0
4 years ago
The Lo Sun Corporation offers a 6.3 percent bond with a current market price of $767.50. The yield to maturity is 8.49 percent.
Tasya [4]

Answer:

27.85 years

Explanation:

In this question we use the NPER formula that is shown in the spreadsheet

Provided that

Present value = $767.50

Future value = $1,000

Rate of interest = 8.49% ÷ 2 = 4.25%

PMT = $1,000 × 6.3% ÷ 2 = $31.50

The formula is shown below:

= NPER(Rate;PMT;-PV;FV;type)

The present value come in negative

So, after solving this, the number of years is 55.71

But in this case, it would be

= 55.71 ÷ 2

= 27.85 years

3 0
3 years ago
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