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Mice21 [21]
2 years ago
14

Green Corporation's assets are valued at $1,502,000 after payment of all corporate debts, except for $225,300 of taxes payable o

n net gains it recognized on the liquidation. Bruno, an individual and the sole shareholder of Green, has a basis of $78,855 in his stock. Compute the gain or loss recognized by Bruno on the liquidation of Green Corporation. Bruno has a recognized of $fill in the blank 2 as a result of the liquidation.
Business
1 answer:
Bad White [126]2 years ago
7 0

Answer:

Thanks for answering my question so whats the answer agian

Explanation:

Oh my god your a bot

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Q 10.25: Admire County Bank agrees to lend Givens Brick Company $600,000 on January 1st. Givens Brick Company signs a $600,000,
Shtirlitz [24]

Answer:

Entry is given below

Explanation:

As Givens brick company is paying off the liability of note payable and the interest amount therefore, it will be debited as it is a decrease in liability. Cash will be credited as it is our asset and its decreasing.

Entry                      DEBIT          CREDIT

Notes payable     $600,000

Interest                 $36,000(w)

Cash                                           $636,000

Working

Interest = $600,000 x 8% x9/12

Interest = $36,000

7 0
3 years ago
True or false: in situations where an annual budget deficit exists, cutting expenses from the budget is optimal.
My name is Ann [436]

The statement in situations where an annual budget deficit exists, cutting expenses from the budget is optimal is True.

<h3>What is budget deficit?</h3>

Budget deficit tend to occur when the expenses or expenditure is higher then the revenue.

Cutting down expenses from the budget is most desirable if we want to  have budget surplus. Budget surplus is when revenue is higher than expenditure.

Therefore the statement in situations where an annual budget deficit exists, cutting expenses from the budget is optimal is True.

Learn more about budget deficit here:brainly.com/question/26010226

#SPJ1

5 0
1 year ago
Southwest Pediatrics has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $121,000; All
kogti [31]

Answer:

Bad debt expense  $ 26,300

Allowance for Uncollectible Accounts   $ 26,300

Explanation:

Initial Balance  

Accounts Receivable  $ 121,000

Allowance for Uncollectible Accounts   $ 2,100 - Debit

Bad Debts Expense =  20% / Accounts Receivable $ 24,200

Adjusting Entry

Bad debt expense  $ 26,300

Allowance for Uncollectible Accounts   $ 26,300

Final Balance  

Accounts Receivable  $ 121,000

Allowance for Uncollectible Accounts   $ 24,200 - Credit

Accounts Uncollectible are those credit that the company give and there are not chances of been collected.

When the customers buy products on credits but then the company can't collect the debt, then it's necessary to write off the unpaid bill as uncollectible

One way it's to write-off directly the bad debts at the moment decided that the credit are uncollectible, the total amount it's reported as bad debt expenses which affect negativly the income statement and the accounts receivable are reduce in the same amount, less assets.

The other way it's to determine a percentage of total amount of accounts receivables as uncollectible, exist many ways to analize the accounts receivable and figure the value of uncollectible.

When the company have the percentage of uncollectible accounts the journal entry required is Bad Expenses (debit) with Allowance for Uncollectible Accounts (credit)

At the moment of the write-off as the expenses were before recognized we only use the Allowance for Uncollectible Accounts (Debit) with Accounts Receivable (Credit), with this we are recognizing the uncollectible credit of the company.

6 0
3 years ago
What is the opposite of fade-in, when the image goes black?
Flura [38]

Answer:Umm fade out is the opposite if fade in, but it might not be correct.

Explanation:

;)

5 0
3 years ago
Assume that Microsoft has no debt, a total market value of $300 billion, and a marginal tax rate of 21%. If it permanently chang
Sphinxa [80]

The presence value of tax shield is =522,000,000

<h3>What is Tax shield?</h3>

Tax shields is calculate by substraction cash flow form two different sessions.

To determine the present value for first session

Market value = $300 billion

Tax rate = 20%

Debt = 0

Tax payable= Tax rate/100% * Market Value

Tax payable = 20/100× $300 billion

= 600,000,000

To get present value of tax

Market value = $300 billion

Tax rate = 20%

Debt = 13% of $300 billion

= 390,000,000

Present Market Value = $300 billon - 390,000,000

= 2,610,000,000 i.e $2.6billion

Tax payable = 20/100 × $2.6 billion

=522,000,000

Learn more on tax shield here,

brainly.com/question/13932912

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5 0
1 year ago
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