Tar heel corporation had current and accumulated e& p of $500,000 at december 31 20x3. on december 31, the company made a distribution of land to its sole shareholder, william roy. the land's fair market value was $100,000 and its tax and e& p basis to tar heel was $25,000. william assumed a mortgage attached to the land of $10,000. the tax consequences of the distribution to william in 20x3 would be: a. $100,000 dividend and a tax basis in the land of $100,000b. $100,000 dividend and a tax basis in the land of $90,000c. dividend of $90,000 and a tax basis in the land of $100,000d. dividend of $90,000 and a tax basis in the land of $90,000

Jimmy owns an ice cream parlor. he designs a schedule for the different tasks the employees have to perform in order to prevent monotony at work. according to the schedule, if an employee makes waffle cones on a day, he serves ice creams the next day and clears the tables on the day after that. jimmy is using the approach at his ice cream parlor.

The following cost data relate to the manufacturing activities of chang company during the just completed year: manufacturing overhead costs incurred: indirect materials $ 15,800 indirect labor 138,000 property taxes, factory 8,800 utilities, factory 78,000 depreciation, factory 150,600 insurance, factory 10,800 total actual manufacturing overhead costs incurred $ 402,000 other costs incurred: purchases of raw materials (both direct and indirect) $ 408,000 direct labor cost $ 68,000 inventories: raw materials, beginning $ 20,800 raw materials, ending $ 30,800 work in process, beginning $ 40,800 work in process, ending $ 70,800 the company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. a total of 20,500 machine-hours were used during the year. required: 1. compute the amount of underapplied or overapplied overhead cost for the year. 2. prepare a schedule of cost of goods manufactured for the year.

1. regarding general guidelines for the preparation of successful soups, which of the following statements is true? a. thick soups made with starchy vegetables may thin during storage. b. soups should be seasoned throughout the cooking process. c. finish a cream soup well before serving it to moderate the flavor. d. consommés take quite a long time to cool.