Answer:
amount recognized gain = $7500
Explanation:
given data
profits = $500,000
basis = $67,500
fair market value = $75,000
interest = 95%
distribution = $90,000
to find out
amount of Shepherd Corporation’s recognized gain or loss
solution
we know that here effect of non liquidating distributions on corporation is gain are recognised on property that is express as
amount recognized = fair market value - Basis .................1
put here value we get
amount recognized = $75,000 - $67,500
amount recognized gain = $7500
<span>How does Truth In Lending protect consumers when shopping for a loan</span>
Answer:
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Explanation:
Answer: A.) $32.64 per machine hour
Explanation:
Given the following :
Estimated machine hours = 41,000 machine hours
Estimated variable manufacturing overhead = $4.16 per machine hour
Estimated total fixed manufacturing overhead = $1,167,680
Total Estimated manufacturing overhead :
(Estimated total variable manufacturing overhead + Estimated total fixed manufacturing overhead)
Estimated total variable manufacturing overhead:
$4.16 × estimated hours
= $4.16 × 41,000
= $170560
Total Estimated manufacturing overhead :
$170560 + $1,167,680 = $1338240
Hence,
Predetermined overhead rate :
Total Estimated manufacturing overhead / estimated hours
= $1338240 / 41000
=$32.64
