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2 years ago

Which of these is an advantage of filing for Chapter 7 bankruptcy?

Business

1 answer:

kotegsom [21]2 years ago

3 0

Answer:

B) Debts can usually be erased in about 6 months.

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Celeste transferred 100 percent of her stock in Supply Chain Company to Marketing Corporation in a Type A merger. In exchange, s

atroni [7]

Answer:

a. No loss is recognized.

b. Celeste's basis in Marketing stock is $700,000.

Explanation:

a. What amount of loss does Celeste recognize in the exchange

Since this is a Type A merger, no loss is required to be recognized.

b. What is her basis in the Marketing stock she receives

Basis in the Marketing stock is the excess of Celeste's tax basis in the Supply Chain stock over the fair market value of stock in Marketing. This can be calculated as follows:

Basis in the Marketing stock = $1,200,000 - $500,000 = $700,000

Therefore, Celeste's basis in Marketing stock is $700,000

8 0

3 years ago

Homogeneous oligopoly exists where a small number of firms are ______.

Otrada [13]

Answer:

Explanation:

If the firms in an oligopolistic industry can establish an effective cartel, the resulting output and price will approximate those of a pure monopoly.

3 0

4 years ago

What policy is a way the SEC protects investors

FinnZ [79.3K]

Requiring companies to disclose financial information.

3 0

3 years ago

Fitzgerald Oil and Gas incurred costs of $8.25 million for the acquisition and development of a natural gas deposit. The company

fiasKO [112]

Answer:

Depletion for Year 1: $1,925,000;

Depletion for Year 2: $2,200,000.

Explanation:

Please find the below for detailed explanation and calculation:

- First, calculate the depletion rate per cubic feet of natural gas extracted from the gas deposit:

+Depletion rate = Total cost of acquisition and development of the gas deposit/ total expected gas extraction from the deposit = 8,250,000/3,000,000 = $2.75 per cubic feet.

- Then, find the depletion for the year 1 and yer 2 given the actual extracted gas are given:

Depletion for year one = Depletion rate x actual gas extraction in year 1 = 2.75 x 700,000 = $1,925,000;

Depletion for year two = Depletion rate x actual gas extraction in year 2 = 2.75 x 800,000 = $2,200,000..

Hope you find the explanation helpful.

6 0

3 years ago

If you are creating a business what expenses should you include

dlinn [17]

1. keep a good track record of business expenses.

2. know which expenses can be deducted.
(THE FOLLOWING 3-9 ARE FULLY DEDUCTIBLE EXPENSES!!)
3. Fees, dues, and subscriptions.

4. Advertising, marketing, and promotion.

5. Labor.

6. Benefits, continuing education, or training.

7. Other insurance.

8. Office equipment and supplies.

9. Rent, Utilities, and Phones.

10. (These could be deductible )
Gifts, Meals, and Entertainment.

11. SPLIT PERSONAL AND BUSINESS EXPENSES

12. Home office, and mileage.

I hope i could help! good luck :)

3 0

3 years ago