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iris [78.8K]
3 years ago
11

Clampett, Incorporated, has been an S corporation since its inception. On July 15, 2021, Clampett, Incorporated, distributed $42

,500 to J.D. His basis in his Clampett, Incorporated, stock on January 1, 2021, was $36,000. For 2021, J.D. was allocated $11,800 of ordinary income from Clampett, Incorporated, and no separately stated items. How much capital gain does J.D. recognize related to Clampett, Incorporated, in 2021
Business
1 answer:
Gre4nikov [31]3 years ago
4 0

Answer:

See bellw

Explanation:

Income of J.D related to Clampett = Ordinary income + Capital gain

Given that

Basis distribution = $42,500

Basis stock = $36,000

Ordinary = $11,800

But Capital gain = Basis distribution - (Basis stock + Ordinary income

= $42,500 - ($36,000 + $11,800)

= $42,500 - $47,800

= - $5,300

Therefore, J.D income related to Clampett

= Ordinary income + Capital gain

= $11,800 - $5,300

= $6,500

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Suppose People's bank offers to lend you $10,000 for 1 year on a loan contract that calls for you to make interest payments of $
vodka [1.7K]

Answer:

10.38%

Explanation:

The formula to compute the effective annual rate of the loan is shown below:

= (1 + nominal interest rate ÷ periods)^ number of period - 1

The nominal interest rate is shown below:

= $250 × 4 ÷ $10,000

= $1,000 ÷ $10,000

= 0.1

Now the effective annual rate is

= (1 + 0.1 ÷ 4)^4 - 1

= (1 + 0.025)^4 - 1

= 1.025^4 - 1

= 10.38%

Since the interest rate is measured on a quarterly basis, we know there are four quarters in a year and we do the same in the calculation part.

This is the answer but the same is not provided in the given options

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3 years ago
Go follow my meme page on Insta gram please I just started it
Roman55 [17]

Answer:

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7 0
3 years ago
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Whenever Don calls on potential pest control customers, he emphasizes the fact that, unlike the national franchise competitors,
Amiraneli [1.4K]

Answer:

positioning

Explanation:

Based on the information provided within the question it can be said that in this scenario Don is positioning his business relative to his competition. In the context of business, positioning refers to the actions taken by a business in order to for the business/brand to occupy a specific place in the minds of their customers, as well as setting them apart from the competition, so that those customers choose them instead of the competition.

7 0
3 years ago
At the beginning of a year, a company predicts total direct materials costs of $1,010,000 and total overhead costs of $1,270,000
marin [14]

Answer:

1.267 = Overhead Rate

Explanation:

<em>As general approach,</em> the manufacturing rate, along with any rate is done by dividing the cost by a cost driver.

\frac{Cost\:Of\: Manufacturing\: Overhead}{Cost\: Driver}= $Overhead \:Rate

In this case teh cost is the manufacturing overhead and the cost driver the direct materials cost:

\frac{1,270,000}{1,010,000}= $Overhead Rate

<em>Using Direct Materials cost, the rate would be:</em>

1.257425743= $Overhead Rate

3 0
3 years ago
In​ March, 2006 the labor department of the country of Jobland determined that the size of the labor force was 100 million out o
Lubov Fominskaja [6]

Answer:

a). Unemployment rate in March=8%

b). Unemployment rate in April=9.4%

Explanation:

a).

The unemployment rate can be expressed as;

R=P/L

where;

R=unemployment rate

P=number of unemployed persons

L=labor force

In our case;

R=unknown

P=number of unemployed persons=labor force-number of employed persons

P=100-92=8 million

L=100 million

replacing;

R=8/100=0.08×100=8%

The unemployment rate in March=8%

b).Unemployment rate for April

Unemployment rate={(total unemployed+discouraged workers)/(labor force+discouraged workers)}×100

total unemployed=8 million

discouraged workers=1.5 million

labor force=100 million

replacing;

Unemployment rate=(8+1.5)/(100+1.5)=(9.5/101.5)×100=9.4%

Unemployment rate in April=9.4%

6 0
3 years ago
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