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attashe74 [19]
3 years ago
6

Donald sells stock with an adjusted basis of $38,000 to his son, Kiefer, for its fair market value of $30,000. Kiefer sells the

stock three years later for $32,000. Kiefer will recognize a gain on the subsequent sale ofA) $0.B) $2,000.C) ($6,000).D) ($8,000).
Business
1 answer:
IrinaK [193]3 years ago
8 0

Answer:

The correct option is A

Explanation:

Gain on sale of stock = Selling Price - Cost

                                    = $32,000 - $30,000

                                    = $2,000

Previously disallowed loss = Market Value - Basis

                                            = $30,000 - $38,000

                                            = ($8,000)

Taxable Gain = Previously disallowed loss - Gain on sale of stock

                       = ($8,000) - $2,000

                       = ($6,000)

The previously disallowed loss could not decrease the gain below 0. Therefore, the Kiefer will recognize the gain at $0.

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Selected financial data regarding current assets and current liabilities for Queen’s Line, a competitor in the cruise line indus
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Answer:

Current ratio = 0.33 times

Acid test ratio = 0.29 times

Explanation:

• Current ratio

Current ratio = Total current assets ÷ Total current liabilities

= $875 ÷ $2,638

= 0.33 times

• Acid test ratio

Acid test ratio = Quick assets ÷ total current liabilities

Where,

Quick assets = Total current assets - Inventory

= $875 - $116

= $759

Recall total current liabilities = $2,638

Therefore,

Acid test ratio = $759 ÷ $2,638

Acid test ratio = 0.29 times

8 0
2 years ago
What does it mean to have dependability skills mean?​
EastWind [94]

Answer:  Dependability is defined as the quality of being able to be counted on or relied upon. When you always do everything that you say you will and never make promises you cannot keep, this is an example of dependability. YourDictionary definition and usage example.

Explanation:

7 0
3 years ago
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One way to think about TQM is as a business philosophy centered around seven core ideas, or principles: __________ refers to com
Elena-2011 [213]

Answer:supplier partnerships

Explanation:supplier partnership is a commitment over an extended time to work together to the mutual benefit of both parties, sharing relevant information and the risks and rewards of the relationship.

In quality control, extended relationship between buyers and sellers based on confidence, credibility, and mutual benefit. The buyer, on its part, provides long-term contracts and assurance of only a small number of competing suppliers. In reciprocation, the seller implements customer's suggestions and commits to continuous improvement in quality of product and delivery.

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In 2016, teller company sold 3,000 units at $600 each. variable expenses were $420 per unit, and fixed expenses were $270,000. t
Anit [1.1K]
Assuming that you have the values for the year 2017, the break-even point would be 1500 units for the year 2017. To calculate this, we use the idea that at the breaking point, total sales is equal to the total cost or expenses made. Which would be:

selling (x) = fixed + variable (x)

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6 0
3 years ago
The Jewel Golf Club Company, which recently began using a kanban system, has had problems with high inventory levels of one of t
AfilCa [17]

Answer:

d. six or seven

Explanation:

Given that:

Daily demand for the grip = 3000 units

average waiting time = 0.20 day

processing time =  0.10 day / container

a container holds  = 150 grips

percentage of policy used = 10% = 0.10

The  objective of this question is to determine the amount of Kanban containers would Jewel require.

the amount of Kanban containers  = Demand ( wasting time + processing time)(1+percentage policy)/ amount of container holding

the amount of Kanban containers  = 3000( 0.2 + 0.1) ( 1+ 0.10)/ 150

the amount of Kanban containers  =  3000 ( 0.30) (1.10)/150

the amount of Kanban containers  =  990/150

the amount of Kanban containers  = 6.6

SO we can infer that the amount of Kanban containers would Jewel require if a 10% policy variable is used falls within the range of  six or seven.

8 0
3 years ago
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