Cactus corporation, an s corporation, had accumulated earnings and profits of $100,000 at the beginning of 2017. tex and shirley each own 50% of the stock and have a basis in their stock of $50,000 on january 1, 2017. cactus does not make any distributions during 2009, but had $200,000 of ordinary income. in 2018, ordinary income was $100,000 and distributions were $100,000. what is tex's basis at january 1, 2019?

True or false: on january 1, year one, the epstein corporation buys a plot of land with a four-story office building. the company believes the building is worth $1.9 million and has an estimated life of twenty years (with no anticipated residual value). the straight-line method is used. the land has an assessed value of $100,000. because the seller was interested in a quick sale, epstein was able to buy this land and building for $1.7 million. depreciation expense to be recognized in year one is $80,750.

What is an example of a good stock to buy in a recession? a) cyclical stock b) defensive stock c) income stock d) bond

Brenda wants a new car that will be dependable transportation and look good. she wants to satisfy both functional and psychological needs. true or false