Answer:
<em>In compliance with IRS 351, gain / loss must be acknowledged when the property is sold to the cooperative in order to gain control after the sale.
</em>
Solution (A)
In order to be eligible as a non-taxable trade UIS 351, Ted is attempting to meet the control criteria of section 351, Peggy must join Ted in the transaction. When the specifications are not met, Ted will be recognized as a gain by $80000 on the transfer.
Solution (B)
The legislation provides that stock granted for property whose value is comparatively small is not treated as issued in return for property compared with the value of stock already owned.
Answer:
The statement in the question is true (The manufacture is trying to alleviate the financial Risk)
Explanation:
<u>Buying a product that offers a money-back guarantee or offers a warranty helps to ensure the consumers peace of mind.The Money back guarantee may allow the purchaser to get their money back in case the product does not work as expected.</u>
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<u>The Money Back Guarantee as as a guarantee that the product will perform as expected. </u>
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<span>If I purchased 1,300 shares of lakeside bank stock for $23.32 a share. The total worth of the share is 1, 300 * 23.32 = $30, 316. Okay I received payments dividend worth 0.61 a share; that becomes 0.61 * 23.32 = $14.2252. I sold 1, 300 shares for $24.32. So I sold it for 1, 300 * 24.32 = $31616.
My total return = (Amount I sold the share + dividend received) - Amount I bought the share. So we have (31616 + 14.2552) - 30316 = $31630.2552 - $ 30, 316 = $1314.2552</span>
Answer: B) consult an attorney and put their agreement in writing.
Explanation:
As soon as they have agreed to form a partnership, they should put this on paper to finalize it properly and give it more legal standing.
They do this by consulting an attorney who will then put the agreement to writing. This agreement will show what is expected of both parties and will be fully enforceable. It would also help in filling the requisite documents for the formation of the music school.
Answer:
The company’s revenue for the year is $483,000
Explanation:
The computation of the revenue is shown below:
The ending balance of the stockholders' equity = Beginning balance of stockholders' equity + issued shares - expenses + income - dividend paid
$290,000 = $108,000 + $147,000 - $420,000 + income - $28,000
$290,000 = - $193,000 + income
So, the income would equal to
= $290,000 + $193,000
= $483,000
