Answer:
Oak Corp distributed $15,000 to Glover and we are required to compute the amount and character of gain Glover must recognize under the scenarios as stated in the question:
a. No gain will be recognized by Glover. Rather, his stock basis will be reduced from $35,000 to $20,000 ($35,000 basis - $15,000 cash distribution). So, gain recognized by him is $0.
b. Long term capital gain of $7,000 ($15,000 - $8,000) will be recognized by Glover and his stock basis will be reduced from $8,000 to $0.
c. The entire $15,000 ($15,000-$0) will be recognized as long term capital gain by Glover and his stock basis will remain $0.
Answer:
$11,977
Explanation:
The difference between the balance of the total checks written and balance of the total checks presented for withdrawal gives the amount outstanding.
As such, amount of outstanding checks at the end of December is the net of the balance of the checks written in November and December and the balance of the checks presented in the same period.
This is
= $43300 + $59239 - $39630 - $50932
= $11,977
The most logical answer to me would be A, however I recommend you don’t go with my answer JUST YET because this is an educational guess. Take time to think about my answer. Sorry if it’s wrong
Answer:
cash 595,900 debit
bonds payable 590,000 credit
premium on bonds 5,900 credit
Explanation:
We have to record the issuance of the bonds:
<em><u>cash proceeds:</u></em>
face value x quote:
590,000 x 101/100 = 595,900
face value <u> (590,000)</u>
<em>premium </em> 5,900
<em>There is a premium as we are receiving more than we are going to pay at maturity.</em>
We will debit the cash proceeds form the bond
and credit the bonds and premium
Answer:furniture manufacturer: wood→sanding→chair---C
Explanation:
Operations management is the part of a production system that administers best business practices to create the highest net operating profit within an organization. It involves the management of converting raw materials and labor into finished goods and services by passing through efficient processes so as to maximize profit of an organization.
In Operations management, efficient productivity , coordination and formulation of new improved process is important because to maximize profit requires constant innovation to reevaluate current practices. An operations management is involved in inputs, process and outputs as can be seen illustrated below.
furniture manufacturer: wood→sanding→chair
