ABC, Inc. Corporation has gross receipts according to the following schedule: Year 1 $2.00 million; Year 2 $4.00 million; Year 3 $6.00 million; Year 4 $4.50 million; Year 5 $7.00 million; Year 6 $10.00 million If WFO began business as a cash-method corporation in Year 1, in which year would it have first been required to use the accrual method?
Answers: 1
Business, 21.06.2019 22:50
Tara incorporates her sole proprietorship, transferring it to newly formed black corporation. the assets transferred have an adjusted basis of $240,000 and a fair market value of $300,000. also transferred was $10,000 in liabilities, $1,000 of which was personal and the balance of $9,000 being business related. in return for these transfers, tara receives all of the stock in black corporation. a. black corporation has a basis of $241,000 in the property. b. black corporation has a basis of $240,000 in the property. c. tara’s basis in the black corporation stock is $241,000. d. tara’s basis in the black corporation stock is $249,000. e. none of the above.
Answers: 1
Business, 22.06.2019 11:10
Sam and diane are completing their federal income taxes for the year and have identified the amounts listed here. how much can they rightfully deduct? • agi: $80,000 • medical and dental expenses: $9,000 • state income taxes: $3,500 • mortgage interest: $9,500 • charitable contributions: $1,000.
Answers: 1
Business, 22.06.2019 16:00
What impact might an economic downturn have on a borrower’s fixed-rate mortgage? a. it might cause a borrower’s payments to go up. b. it might cause a borrower’s payments to go down. c. it has no impact because a fixed-rate mortgage cannot change. d. it has no impact because the economy does not affect interest rates.
Answers: 1
Business, 22.06.2019 19:50
The common stock and debt of northern sludge are valued at $65 million and $35 million, respectively. investors currently require a return of 15.9% on the common stock and a return of 7.8% on the debt. if northern sludge issues an additional $14 million of common stock and uses this money to retire debt, what happens to the expected return on the stock? assume that the change in capital structure does not affect the interest rate on northern’s debt and that there are no taxes.
Answers: 2
ABC, Inc. Corporation has gross receipts according to the following schedule: Year 1 $2.00 million;...
Computers and Technology, 22.08.2019 00:30
World Languages, 22.08.2019 00:30
Mathematics, 22.08.2019 00:30
History, 22.08.2019 00:30
Mathematics, 22.08.2019 00:30
Biology, 22.08.2019 00:30
Mathematics, 22.08.2019 00:30
Mathematics, 22.08.2019 00:30