Jefferson Millinery Inc. (JMI) decided to liquidate its wholly-owned subsidiary, 8 Miles High Inc. (8MH). 8MH had the following tax accounting balance sheet: FMV Adjusted Basis Appreciation Cash
Cash $200,000 $200,000
Building 50,000 10,000 40,000
Land 150,000 90,000 60,000
Total $400,000 $300,000 $100,000
A. What amount of gain or loss does 8MH recognize in the complete liquidation?
B. What amount of gain or loss does JMI recognize in the complete liquidation?
C. What is JMI's tax basis in the building and land after the complete liquidation?

You are opening a new store and must project in your business plan the amount of inventory shrinkage. you have forecasted $1,200,000 in sales for the first year. assuming your shrinkage will be 5%, the high end of the national average, calculate the projected annual shrinkage for your business plan. you are opening a new store and must project in your business plan the amount of inventory shrinkage. you have forecasted $1,200,000 in sales for the first year. assuming your shrinkage will be 5%, the high end of the national average, calculate the projected annual shrinkage for your business plan.

Dakota products has a production budget as follows: may, 16,000 units; june, 19,000 units; and july, 24,000 units. each unit requires 3 pounds of raw material and 2 direct labor hours. dakota desires to keep an inventory of 10% of the next month’s requirements on hand. on may, 1 there were 4,800 pounds of raw material in inventory. direct labor hours required in may would be:

The state in which the manufacturing company you work for is located regulates the presence of a particular substance in the environment to concentrations ≤ x. recently-released, reliable research endorsed by the responsible federal agency conclusively demonstrates that the substance poses no risks at concentrations up to 5x. your company has asked you to consider designing a new process with a waste discharge stream containing up to 2x of the substance. based on the stated conditions, describe this possible.