1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
stiks02 [169]
2 years ago
8

Mars Corporation merges into Jupiter Corporation by exchanging all of its assets for 300,000 shares of Jupiter stock valued at $

2 per share and $100,000 cash. Wanda, the sole shareholder of Mars, surrenders her Mars stock (basis $900,000) and receives all of the Jupiter stock transferred to Mars plus the $100,000. How does Wanda treat this transaction on her tax return
Business
1 answer:
MA_775_DIABLO [31]2 years ago
3 0

Answer: capital loss of $200000

Explanation:

To solve the question goes thus:

Value of shares that was received from Jupiter = 300000 × $2 = $600,000

Cash received = $100,000

Total gotten = $700,000

We then deduct the value of stock that was foregone by Mars. This will be:

= $700,000 - $900,000

= - $200,000

Therefore, a capital loss of $200,000 would be disclosed in the Income tax return.

You might be interested in
Paraphrasing is concerned with feeding back the key points of what a client has said. Reflection of feeling, in contrast, involv
ANEK [815]

Answer:

A. Helping clients become more affective

Explanation:

Reflection of feelings involves getting to know the emotions of the clients and reflecting those feelings back to the clients. This helps the client feels like he or she is being understood, listened to and validated. Reflection of feelings establishes a good rapport between the clients and the professional. Reflection of feeling statements accurately mirror client's feeling by identifying the client's emotions based on verbal and non verbal messages.

3 0
3 years ago
Happy Maids cleans commercial buildings. In March, Happy Maids started and completed two jobs, Job 1000 and Job 1001. The job co
vodomira [7]

Answer:

C :Job 1000, $1,860; Job 1001, $3,100

Explanation:

The computation of the total cost is shown below:

For Job 1000:

= Direct materials + Direct labor hours × wage rate per hour × Direct labor hours × overhead rate per hour

= $1,200 + 30 × $15 + 30 × $7

= $1,200 + $450 + $210

= $1,860

For Job 1001:

= Direct materials + Direct labor hours × wage rate per hour × Direct labor hours × overhead rate per hour

= $2,000 + 50 × $15 + 50 × $7

= $2,000 + $750 + $350

= $3,100

5 0
3 years ago
Beneficiaries are responsible for of prescription costs
Oksi-84 [34.3K]

Answer:

In general, beneficiaries are responsible for paying the following for a Medicare Prescription Drug Plan:  

Monthly premiums

Annual deductible

Copayments or coinsurance

A small copayment for the rest of the calendar year after they reach a certain out-of-pocket amount

Explanation:

6 0
2 years ago
Alameda Manufacturing manufactures a variety of wooden picture frames using recycled wood from old barns. Alameda Manufacturing
erica [24]

Answer:

Direct Material Cost

= Cost of hardware + cost of wood

= 42,300 + 121,200

= $‭163,500‬

Direct labor

= Wages of Assembly workers + Finishing workers

= 87,400 + 74,100

= $‭161,500‬

Manufacturing Overhead

= Depreciation + Factory prop. taxes + Factory rent + Glue + Production Supervisor salary + Utilities for factory + Wages for maintenance workers

= 32,000 + 15,500 + 50,000 + 3,030 + 41,200 + 27,800 + 33,200

= $‭202,730‬

Prime Cost

= Direct labor + Direct material

= 161,500 + 163,500

= $‭325,000‬

Conversion Cost

= Direct labor + Manufacturing Overhead

= 161,500 + 202,730

= $‭364,230‬

Total Period Cost

= Advertising + Sales Manager's salary

= 25,600 + 41,500

= $‭67,100‬

8 0
3 years ago
A group of sellers who agree to restrict their collective output in order to drive up prices above marginal costs is a:
Salsk061 [2.6K]

A group of sellers who agree to restrict their collective output in order to drive up prices above marginal costs is known as a:

  • <u>Cartel</u>

According to the given question, we are asked to show the term which can be best used to <em>describe </em>a group of sellers who make an agreement to <em>reduce their collective output</em> so that price of goods would increase above their marginal costs.

As a result of this, we can see that this group of people in the business world are known as cartel because they behave unethically so that they could have increased profit on sales.

Read more here:

brainly.com/question/15294015

3 0
2 years ago
Other questions:
  • On January 1, 2018, Riley Corp. acquired some of the outstanding bonds of one of its subsidiaries. The bonds had a carrying valu
    10·1 answer
  • A company must decide between scrapping or reworking units that do not pass inspection. The company has 13,000 defective units t
    11·1 answer
  • What happens if an offeree alters and then signs any part of an offer?
    6·1 answer
  • PA12. <br> LO 5.4Complete this production cost report:
    15·1 answer
  • Will and Bill both enjoy sunshine, water, and surfboards. Thus, the two friends decided to create a business together renting su
    15·1 answer
  • Renata and Danuta would like to form a business providing take-out meals to homebound destitute residents of Las Vegas. The meal
    10·1 answer
  • abuat Corporation, which has only one product, has provided the following data concerning its most recent month of operations: S
    10·1 answer
  • Jacob works as a researcher for a car showroom. He's going to collect data about consumers' changing preferences, Interests, and
    7·2 answers
  • When merchandise sold is assumed to be in the order in which the purchases were made, the company is using.
    13·1 answer
  • ______________________ increased visibility of purchasing from the mid 70s to the mid 80s.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!