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Valentin [98]
2 years ago
10

On July 1, of the current year, Robert forms the Yew Corporation. In exchange for 100 percent of the corporation's stock, Robert

contributes land with a fair market value of $100,000. Robert acquired the land 5 years ago at a cost of $30,000. At the date of the contribution, the land is subject to a $10,000 mortgage which the corporation assumes. What is the basis of the land to Yew Corporation
Business
1 answer:
SOVA2 [1]2 years ago
5 0

Answer:

$20,000

Explanation:

Based on the information given the basis of the land to Yew Corporation will be the amount of $20,000 which represent the cost of acquiring the land less mortgage reason been that we were told that the land was acquired by Robert 5 years ago at the amount of $30,000 in which it was subject to $10,000 mortgage.

Hence,

Basis=Cost of land -Mortgage

Basis=$30,000-$10,000

Basis=$20,000

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If demand for a good falls, but the opportunity cost of making the good increases, then production of the good will:________
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Increase witch is a
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what would most affect the price a consumer is willing to pay for a newer version of a laptop computer?
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If another company was selling a laptop very similar to the one you are debating on buying or if in a year a much better version was going to be released. 
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3 years ago
Billings Company has the following costs when producing 100,000 units: Variable costs $600,000 Fixed costs 900,000 An outside su
Delvig [45]

Answer:

Increase in income= $1,215,000

Explanation:

Giving the following information:

Billings Company has the following costs when producing 100,000 units: Variable costs $600,000 Fixed costs 900,000 An outside supplier has offered to make the item at $4.50 a unit. If the decision is made to purchase the item outside, current production facilities could be leased to another company for $165,000.

We don't know if all the fixed costs belong to the current production facilities. We will assume it does.

Current total cost= 600,000 + 900,000= $1,500,000

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Increase in income= 1,500,000 - 285,000= $1,215,000

4 0
3 years ago
Any person who engages in the business of claiming, demanding, charging, receiving, collecting, or contracting for the collectio
tiny-mole [99]

Answer:

1. Apartment Information Vendor

Explanation:

<u><em>Those persons who involve in the business of claiming, charging, demanding,  receiving, etc information regarding location and availability of real property, including apartment housing, which may be rented,  leased, shared as a private residence or place of residence is known as </em></u><em>Apartment information </em>vendor. <em>It is the responsibility of licensees to get understand the law of Apartment Information Vendors License which is specified in section 190.1 of this Part and a completely executed separate escrow agreement as specified in subdivision (d) of this section.</em>

5 0
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Air conditioning for a college dormitory will cost $2.1 million to install and $170,000 per year to operate at current prices. T
mario62 [17]

Answer:

$404,634

Explanation:

the formula that we can use to calculate equivalent annual costs is:

EAC = asset price x {discount rate / [1 - (1 + discount rate)⁻ⁿ]} + annual maintenance costs

EAC = $2,100,000 x {0.09 / [1 - (1.09)⁻¹⁹]} + $170,000

EAC = $2,100,000 x {0.09 / [1 - (1.09)⁻¹⁹]} + $170,000 = $234,634 + $170,000 = $404,634

EAC is basically the cost of using an asset during its lifetime. We are determining the cost per year, assuming that they are all equal.

6 0
2 years ago
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