Answer:
$12,500
Explanation:
Calculation for the total amount removed from Joshua’s estate in 2017
Since we were told that In 2016, Joshua gave the amount of $12,500 to his son in which in the same year which was 2017, the XYZ shares are worth the amount of $25,000 which means that the total amount removed from Joshua’s estate in 2017 will be $12,500 ($25,000-$12,500).
Answer:
a. Accounting.
b. Certified public accountants.
c. Creditor.
d. Managerial accounting.
e. Certified management accountants.
f. Financial accounting.
Explanation:
1. <u>Accounting</u>: information system that measures business activities, processes that information into reports, and communicates the results to decision makers.
2. <u>Certified public accountants</u>: professional accountants who serve the general public.
3. <u>Creditor</u>: person or business to whom a business owes money.
4. <u>Managerial accounting</u>: field of accounting that focuses on providing information for internal decision makers.
5. <u>Certified management accountants</u>: professionals who work for a single company.
6. <u>Financial accounting</u>: field of accounting that focuses on providing information for external decision makers.
Answer:
B) False: since it is still a closely held C corporation, it cannot reduce its ordinary income through passive losses. If it hadn't been a closely held C corporation then it could have made the deductions.
Explanation:
Passive losses are losses resulting from financial activities, i.e. investments in other corporations where the investor doesn't participate in.
Passive losses cannot offset ordinary income, they must be matched against passive gains only. If passive losses exceed passive gains, they can be carried forward without limitation.
The only exception applies to C corporations that are not;
- closely held corporations or
- personal service corporations.
Qualifying C corporations can actually deduct passive losses from certain ordinary income.
Closely held C Corporations are corporations where during the last 6 months, 50% or more of its stock is owned by 5 or fewer investors.
The answer is market share. Entering foreign markets will
require a certain company or firm to attain their market share because compared
to local markets, foreign markets are different and requires strategies and
planning—in which, they should do what it takes to attain their market share
that is a portion of their market controlled by them.
If the choices are the following,
a. The sophisticated city look that reflects his business life.
b. Barefoot and serene tropical decor to reflect the lifestyle he wishes he had.
c. Plain, non-stylized environment, neither city nor tropical, so that he won't be reminded of his conflicts.
d. Redefined traditional look with one or two large tropical accessories.
then, choice (b) is correct. Since he wishes to live on a tropical island, it would be best if the decorating plans fit his wishes. By that, he relieves himself from the stress of city life.
