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Verdich [7]
2 years ago
7

Antoine transfers property with a tax basis of $535 and a fair market value of $652 to a corporation in exchange for stock with

a fair market value of $555 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $97 on the property transferred. What is Antoine's tax basis in the stock received in the exchange
Business
1 answer:
Dimas [21]2 years ago
8 0

Answer: $438

Explanation:

Antoine's tax basis in the stock received in the exchange will be gotten as the adjusted basis of asset exchanged which will then be decreased by the liability assumed on the property that's transfered. This will be:

= $535 - $97

= $438

Therefore, Antoine's tax basis in the stock received in the exchange is $438.

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Answer:

C. 1,500

Explanation:

Credit Sales x 3%

$50,000 x 0.03 = $1,500

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3 years ago
The ending inventory of finished goods for each quarter should equal 25% of the next quarter's budgeted sales in units. The fini
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Answer:

Production for 2nd Quarter = 15,000  units

Explanation:

given data

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finished goods inventory at year start =  4,000 units

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1 = 12,000

2 = 14,000

3 = 18,000

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solution

we get here Production for 2nd Quarter  that is

Production for 2nd Quarter = Quarter 2 sale + Desired Q2 ending inventory - Beginning Q2 inventory  ...................1

so it will be as

Production for 2nd Quarter = Quarter 2 sale + (25% of Q3 Sale) - (25% of Q2 sale)

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Production for 2nd Quarter = 14000 + (18000 × 25%) - (14000 × 25%)

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3 0
3 years ago
A generation ago, ketchup was an essential element of every American pantry and salsa was a relatively unknown product. The popu
s344n2d4d5 [400]

Answer:

  • Social

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PESTLE analysis is a tool to identify those external factors which influences organization.

P: Political Factors influencing organization's performance.

E: Economical Factors creating hurdles in the way of the organizations.

S: Social Factors account for changed behavior of consumers towards organization.

T: Technological Factors playing it's role in influencing organizational performance.

L: Legal Factors accounting for legal barriers for the organizations.

E: Environmental Factors affecting companies but no one pays attention to it.

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"Although Alibaba is competing in the Internet services industry, it has improved its performance by focusing on innovation and
meriva

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the resource-based model.

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Bubble-Up, Inc., is a small manufacturer of educational toys for children under age 10. It has co-existed with three other compe
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