Answer:
The shareholder's dividend income = fair market value - mortgage value = $246,000 - $74,415 = $171,585
The shareholder's basis in the property received = fair market value = $246,000
Explanation:
Even though Global has enough earnings and profits to distribute dividends (it cannot distribute dividends if it didn't make a profit or doesn't have retained earnings), it might not have enough cash available to do so. This way the company is fulfilling its obligations with its shareholder while not using its cash reserves.
Answer:
6%
Explanation:
According to my research on U.S Census in the 1790's, I can say that based on the information provided within the question the National Archive estimates approximately 6% were eligible for participation in the political system. Since the National Archive and Records Administration is the organization in the U.S responsible for preserving and documenting all government and historical records, then we can say that this information is valid.
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Answer: Option (C)
Explanation:
In discipline such as economics, Dumping is referred to as or known as type of an injuring pricing, which is especially in context to the international trade. It tends to occur when the manufacturers export a commodity or product to another nation at price which is below normal price in order to have an injuring effect. The main objective of the dumping is to help increase the market share of an organization in the foreign market, therefore done by driving out the competition and thus creating a monopoly where exporter are able to dictate quality and price of the commodity.
Answer:
See explanation section.
Explanation:
December 31, 2017
Bad debt expense Debit = $17,600
Allowance for Doubtful Account Credit = $17,600
To record the bad debt expense
Calculation: Bad debt expense = $250,000 × 8% = $20,000. However, we cannot take this amount because Allowance for Doubtful Account is a positive contra entry, which has a $2,400 credit balance. Therefore, we have to deduct $2,400 from $20,000 to get the actual bad debt expense.