Answer: Jordan's recognized gain in the year of sale is $2500.
Explanation:
Given that,
Jordan inherited 10 shares of universal corp. stock upon her grandfather's death and have a fair market value of $5000
Jordan's grandfather purchase these shares in 1995 for $2500
After four months of her grandfather's death, Jordan sold all of the shares for $7500
So,
Jordan's recognized gain in the year of sale = the value of sale - the fair market value at the time of her grandfather's death
= $7500 - $5000
= $2500
Answer:
True
Explanation:
Plz mark brainliest thxxx :) hope it helps
Answer:
15
Explanation:
15151515151515152515255151251512512
Answer:
D
Explanation:
Nantell's operating income (EBIT) will increase., because now the company will record lower depreciation expense in the income statement due to increase in the life from 5 to 7 taken for the depreciation purposes. So decline in depreciation will result in higher EBIT.
a. is wrong as lower depreciation means higher net income.
b. is wrong as tax liability will not get impacted as tax will follows old method of depreciation.
c. is incorrect as depreciation is non cash expense thus does not impact cash position and tax has already be on the earlier method.
e. is incorrect as increase in EBIT will result in higher taxable income.
hence option D is the only correct option
Answer:
Businesses are the engine room of any economy, businesses are established to make profits, but before a business can make a profit it would have to produce goods or render services that help solve a problem or satisfy a need in society. Also, in carrying out their activities businesses create employment by employing people to work with them, and create demand through the wages paid to their employees which they spend on things, the company buys input for its processes, and both the businesses and its employees pay taxes to the government.
With regards to not-for-profit organizations, they fill the gap where the government and the for-profits organisation cannot operate. They provide assistance to the needy and fight the rights of people, amongst other things.
