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Jet001 [13]
3 years ago
12

During the year ended June 30, 2020, Hopkins College, a private college, received a federal government grant of $800,000 for res

earch on the role of music in improving math skills for students. Expenses that were not capital in nature for this research amounted to $100,000 during the same year. Under FASB standards, which of the following best represents how Hopkins College would report this nonexchange transaction in the net assets section for the year ended June 30, 2020? Without Donor Restrictions With Donor Restrictions A. $ 0 $ 800,000 B. $ 0 $ 700,000 C. $ 100,000 $ 700,000 D. $ 800,000 $ 0 Multiple Choice Choice C. Choice D. Choice A. Choice B
Business
1 answer:
ratelena [41]3 years ago
8 0

Answer:

b

Explanation:

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Mr. Boyd and Ms. Tuck decide to form a new corporation named BT Inc. Mr. Boyd transfers $10,000 cash and business inventory ($20
kicyunya [14]

Answer:

1. Mr Boyd's share = 400, Ms Tuck = 800

2. Mr Boyd's realised gain = $16,800, recognized gain = $0, basis = $13200

Ms Tuck's realized gain = $18500, gain recognized = 0, basis = $41500

Explanation:

1.

Total share = $1200

Cash received from Mr Boyd = 10000

FMV from him = 20000

Total value = 30000

FMV of equipment from Ms Tuck = 60000

Total value from both of them = 60000 + 30000 = $90000

Number of share Mr Boyd is to receive = 1200x(30000/90000)

= 400

Number of share Ms Tuck is to receive

= 1200x(60000/90000)

= 800

2.

<u>Mr Boyd's gains</u>

Cash received = 10000

FMV = 20000

Total = 30000

Adjusted basis = 3200

Total tax basis = 10000+3200

Gain realized = 30000-13200

= 16800

Gain realized = 0 because it is a non taxable exchange.

Mr Boyd's realised gain = $16800, recognised gain = $0, basis = $13200

<u>Ms Tuck</u>

FMV = 60000

Adjusted tax basis = 41500

Gain realized = 60000-41500

= 18500

Gain recognized = 0(non taxable exchange)

Ms Tuck's realized gain = $18500, recognized gain = $0, basis = $41500

3

the FMV basis of inventory = 20000

carryover basis = 3200

equipment basis FMV = 60000

carryover basis = 41500

note that no gain if equal to or more than 80 percent of the ownership of the stock in a non taxable exchange.

6 0
3 years ago
Spade and Marcher Corp. manufactures and sells toy guns. These toy guns are a perfect imitation of real weapons. Inspired by Spa
VMariaS [17]

Answer:

analyzer

Explanation:

This strategy is used by companies wishing to gain market share. It is a moderate aggressive strategy, as it presents low aggregate risks, and innovation is not a very relevant factor in companies that use the analyzer strategy. Companies seek to provide a production of goods already in the market, with modifications and differentiations.

3 0
2 years ago
An __________ is a lan that uses the same technologies as the internet but is open to only those inside the organization.
alina1380 [7]

Answer:

Intranet is the answer of this question.

4 0
2 years ago
Each of the following, except one, is a condition that characterizes a perfectly competitive labor market. Which is the exceptio
Kitty [74]

Each of the following, except one, is a condition that characterizes a perfectly competitive labor market. The exception is workers receive wages that are above their marginal revenue product (MRP).

In developing countries, labor markets play a central role in determining economic and social progress since employment status is one of the key determinants of exiting poverty. Ultimately, having a decent, well-paid, and secure job is the most sustainable path to increasing incomes and consumption levels.

That is, in the labor market, employers are willing to buy more hours of labor at lower wages than at higher wages. Although employers, who demand labor, prefer lower wages, workers, who supply that labor, prefer high wages.

Learn more about the labor market here brainly.com/question/25715806

#SPJ4

5 0
1 year ago
Daisy's Donuts rents retail space in the Crestwood Mall beginning January 1, 2018, and ending June 30, 2018. This is an example
MAVERICK [17]
I think the correct answer is : Tenancy for years
3 0
2 years ago
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