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DanielleElmas [232]
3 years ago
9

Angie and Brad form Cats Are Us, Inc. Angie contributes $120,000 cash for 60% of the stock. Brad contributes an asset with an FM

V of $90,000 and an adjusted basis of $30,000 for 40% of the stock. Brad also receives $10,000 cash from the corporation. What is the corporation's basis in the asset received from Brad?
Business
1 answer:
insens350 [35]3 years ago
7 0

Answer:

$40,000

Explanation:

Calculation for the corporation's basis in the asset that was received

Using this formula

Corporation'sbasis in the asset received = Stock Adjusted basis + Cash received

Let plug in the formula

Corporation'sbasis in the asset received = $ 30,000 +$10,000

Corporation'sbasis in the asset received = $ 40,000

Therefore the Corporation'sbasis in the asset received will be $40,000

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Jonathan cowan is upset because he was passed over for a promotion he had really worked hard for. in response to his anger towar
Dmitry_Shevchenko [17]

I guess the correct answer is deviant workplace behavior.

Jonathan Cowan is upset because he was passed over for a promotion he had really worked hard for. In response to his anger toward the manager and the company, he has started gossiping about the manager with his colleagues and assigning blame on him unnecessarily. Jonathan's behavior is an example of deviant workplace behavior.

7 0
3 years ago
What major advantage does a partnership have that a sole proprietorship does not? A. Partnerships combine partners’ assets. B. T
allochka39001 [22]
The answer is A because with a sole proprietorship you can have many partners each contributing small amounts of money, that would add up to a larger amount. :)
6 0
3 years ago
Read 2 more answers
Determining opportunity cost juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. three stores
raketka [301]

Answer:

Juanita should purchase the skirt at her local store because the total economic cost will be lowest

Explanation:

three options:

  • local store 15 minutes away and a price of $104
  • across town 30 minutes away and a price of $88
  • neighboring city 1 hour away and a price of $63

Juanita makes $42 per hour at her work, and her purchase decision includes the opportunity cost of lost wages:

total economic cost:

  • local store = $104 + [1/4 hours x 2 (round trip) x $42] = $125
  • across town = $88 + [1/2 hours x 2 (round trip) x $42] = $130
  • neighboring city = $63 + [1 hour x 2 (round trip) x $42] = $147

Juanita should purchase the skirt at her local store because the total economic cost will be lowest ($125)

5 0
3 years ago
1. List three ways to get money OUT of your checking account.<br> CÓ<br> a<br> b.<br> C.
sammy [17]

Answer:

See below

Explanation:

A checking account is held at a financial institution. It allows the account holder to deposit or withdraw money as many times as they wish.

Money in a checking account can be gotten out or withdrawn in the following ways

  • Withdraw over the counter at the bank premises.
  • Withdraw at an ATM machine using a debit card or other electronic cards.
  • Writing a check in favor of the intended recipient

Other ways include;

  • Electronic transfers from one account to the other using the internet or banking apps-online banking
5 0
3 years ago
At the beginning of the year, Uptown Athletic had an inventory of $400,000. During the year, the company purchased goods costing
Zanzabum

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Uptown Athletic had an inventory of $400,000. During the year, the company purchased goods costing $1,500,000. If Uptown Athletic reported ending inventory of $500,000 and sales of $2,000,000.

Cost of goods sold= beginning inventory + purchase - ending inventory

COGS= 400,000 + 1,500,000 - 500,000= 1,400,000

Sales= 2,000,000

COGS= 1,400,000

Gross profit= 600,000 30%

5 0
3 years ago
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