Answer: Sam must report $700,000($900,000 - $200,000) for tax purposes.
Explanation:
Because Sam is the sole shareholder of Silver, and has a basis of $200,000 in his stock. Once Silber distributes $900,00to Sam on December 31
A bond resolution is a legal document that specifies the rights of the issuer and the bondholder, the two parties to the bond contract, and allows the issuance and sale of bonds.
<h3>Who is a bondbondholder?</h3>
An investor or the owner of debt instruments, which are frequently issued by corporations and governments, is known as a bondholder. In essence, bondholders are lending money to the bond issuers. Bond holders receive their principal investment back when the bonds mature in exchange.
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Answer: not affecting the manager's bonus
Explanation:
Under Variable costing, fixed manufacturing overhead is not charged on inventories produced or not sold for the year which means that regardless of inventory level, the relevant inventory here when it comes to calculating operating profit is the one that was sold.
The manager's bonus will therefore not change as a result of higher inventory levels. Were this absorption costing where fixed overhead was charged to inventory that was not sold, the manager's bonus would increase because the higher inventory level would absorb more of the cost.
Answer:
Financial statements are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand.
Explanation:
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