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3 years ago

TIME REMAINING

Business

1 answer:

MAXImum [283]3 years ago

3 0

Answer:

The Constitution

Explanation:

In the United States, Article I, Section 8 of the Constitution gives Congress the power to "lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States. This is also referred to as the "Taxing and Spending Clause."

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Kaiwan, Inc., a calendar year S corporation, is partly owned by Sharrod, whose beginning stock basis is $107,500. During the yea

Anton [14]

Answer: a)$59,125 (loss)

b) $5,913 (loss)

c) $0

Explanation:

a. In calculating Sharrod's deductible loss, we can use the following formula,

= Beginning Stock + Long Term Capital Gain - Cash distribution

Calculated that would be,

= 107,500 + 16,125 - 64,500

= $59,125

Sharrod's deductible loss is $59,125

b. For Sharrod's suspended loss, the formula we will use is like in a but with an added subtraction.

= Beginning Stock + Long Term Capital Gain - Cash distribution - ordinary loss

= 107,500 + 16,125 - 64,500 - 65,038

= -$5,913

Sharrod's suspended loss is therefore $5,913

c) Sharrod's new basis is now therefore 0.

If you need any more information, do comment. Cheers.

8 0

4 years ago

Holmes Company produces a product that can be either sold as is or processed further. Holmes has already spent $96,000 to produc

Shtirlitz [24]

Answer:

Yes

Explanation:

The computation is shown below:

Particulars Sales As Is Process further Incremental Accounting

Sales $89,500 $605,000 $515,500

(1,375 units × $440)

Less:

Additional Process costs $398,750 $398,750

(1,375 units × $290)

Total $89,500 $206,250 $116,750

Based on the incremental income, Holmes should process it further.

6 0

3 years ago

______ resemble credit cards, but they are a form of cash. select one:

Zepler [3.9K]

<span>Smart cards, stored-value money cards and electronic tendering cards </span>resemble credit cards, but they are a form of cash. A credit card allows the person who has it to have merchandise, food, travel to different countries that is charged to his or her account. The money is stored in this card and can be en cashed anytime he wanted to.

8 0

3 years ago

A useful technique that enables managers to examine the relationships among cost, price, revenue, and profit over different leve

Rama09 [41]

Answer:

Cost Volume Profit Analydis

Explanation:

Cost Volume Profit Analysis is also known as Break-Even Analysis. This is the application of marginal costing and seeks to study the relationship between costs volume and profits at different levels and can be used as a useful guide for short term planning and decision making. Cost Volume Profit Analysis is a technique that examines changes in profits in response to changes in sales volume, costs and prices.

6 0

4 years ago

Is it possible to calculate total financial returns?

Tom [10]

Answer:

Yes, it is possible to calculate the total financial return.

Explanation:

Financial returns is the profit on an investment, usually calculated at the end of the investment period to determine the outcome of the investment. The total financial return on an investment can be calculated so long as a detailed record of the investment is kept, and balanced. The total financial returns can then be calculated by subtracting the final value of the investment from the initial or starting value of the investment over the duration of the investment.

8 0

4 years ago