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Verdich [7]
3 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]3 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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How Taxation and Legislation impact positively and negatively on a company.
Leto [7]
Taxation decreases the income earned by a firm by 28% it means this affects the business negatively and when taxation is paid it positively improve the economic growth
5 0
4 years ago
On May 31, Money Corporation's Cash account showed a balance of $18,000 before the bank reconciliation was prepared. After exami
nydimaria [60]

Answer:

$18,295

Explanation:

This can be calculated using the following equation:

Reconciled book balance = Book balance – NSF check – Service fees + Error difference

Note that checks outstanding and deposits outstanding are not included in the equation they are not adjustment items to the book balance.

Therefore, we can substitute for the values of each item in the equation and have:

Reconciled book balance = $18,000 - $160 - $130 + ($650 – $65) = $18,295

Therefore, the amount of cash that should be reported in the company's balance sheet as of May 31 is $18,295.

7 0
3 years ago
_____ occurs when a consumer goes into a store to learn about different brands and products and then searches the Internet for t
puteri [66]

Answer:

D. Showrooming

Explanation:

Based on the scenario being described within the question it can be said that the term that is being described is known as Showrooming. This term refers to when individuals examine products at a traditional brick-and-mortar store but later end up searching that product on the internet and buying it there, usually at a lower price than the retail store.

8 0
3 years ago
Company X developed a highly innovative product and began exporting it. Both domestic and international markets became aware of
Delicious77 [7]

Answer: the correct answer is (A) international product life cycle

Explanation:

International product life cycle is based on the theory of product life cycle that basically states that a product cycle has four stages: introduction, growth, maturity and decline.

4 0
3 years ago
A Rhode Island company produces communion wafers for churches around the country and the world. The little company produces a lo
Furkat [3]

Answer:

80,640 wafers

Explanation:

Calculation to determine How many wafers does the cooling tube hold on average when in production

Using this formula

I = R x T

Where,

R = 112 wafers per second x 60

R = 6720 wafers per minute

T = 12 minutes

Let compute for I using the formula aboi

I = 6720 x 12

I = 80,640 wafers

Therefore How many wafers does the cooling tube hold on average when in production are 80,640 wafers

6 0
3 years ago
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