Since September 11th, the United States has struggled with the possibility of having to exist in a "post--American world." What led to the terrorist attacks and how did America respond? How has America sought to retain its position in global leadership? Is it possible for America to remain on top of a global economy and a "globalized" world?
In: Economics
If the South had won the Civil War, would we still have slavery in America today? Why? If not, what would have brought about its downfall?
In: Psychology
Write 350 words analysis about Blaine Crissman owner of the South Dakota Equity Partner.
In: Economics
Purchase-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Capers Company during October of the current year:
Oct. 1. Purchased merchandise from UK Imports Co., $13,082, terms FOB destination, n/30.
3. Purchased merchandise from Hoagie Co., $10,150, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $210 was added to the invoice.
4. Purchased merchandise from Taco Co., $13,150, terms FOB destination, 2/10, n/30.
6. Issued debit memo to Taco Co. for $4,250 of merchandise returned from purchase on October 4.
13. Paid Hoagie Co. for invoice of October 3.
14. Paid Taco Co. for invoice of October 4, less debit memo of October 6 and discount.
19. Purchased merchandise from Veggie Co., $26,110, terms FOB shipping point, n/eom.
19. Paid freight of $425 on October 19 purchase from Veggie Co.
20. Purchased merchandise from Caesar Salad Co., $22,900, terms FOB destination, 1/10, n/30.
30. Paid Caesar Salad Co. for invoice of October 20.
31. Paid UK Imports Co. for invoice of October 1.
31. Paid Veggie Co. for invoice of October 19.
Journalize the entries to record the transactions of Capers Company for October.
For a compound transaction, if an amount box does not require an entry, leave it blank.
In: Accounting
Tiffany and Carlos
decided to liquidate their jointly owned corporation, Royal Oak
Furniture (ROF). After liquidating its remaining inventory and
paying off its remaining liabilities, ROF had the following tax
accounting balance sheet:
FMV | Tax Basis |
Appreciation (Depreciation) |
|||||||
Cash | $ | 382,000 | $ | 382,000 | |||||
Building | 76,000 | 15,750 | 60,250 | ||||||
Land | 306,000 | 377,500 | (71,500 | ) | |||||
Total | $ | 764,000 | $ | 775,250 | $ | (11,250 | ) | ||
Under the terms of the agreement, Tiffany will receive the $382,000
cash in exchange for her 50 percent interest in ROF. Tiffany's tax
basis in her ROF stock is $65,000. Carlos will receive the building
and land in exchange for his 50 percent interest in ROF. His tax
basis in the ROF stock is $145,500. Assume for purposes of this
problem that the cash available to distribute to the shareholders
has been reduced by any tax paid by the corporation on gain
recognized as a result of the liquidation. (Any answer
representing a loss should be entered as a negative
number.)
Assume Tiffany owns 40
percent of the ROF stock and Carlos owns 60 percent. Tiffany will
receive $305,600 in the liquidation and Carlos will receive the
land and building plus $76,400.
f. What amount of gain or loss does Tiffany recognize in the complete liquidation?
Assume Tiffany owns 40
percent of the ROF stock and Carlos owns 60 percent. Tiffany will
receive $305,600 in the liquidation and Carlos will receive the
land and building plus $76,400.
g. What amount of gain or loss does Carlos recognize in the complete liquidation?
Assume Tiffany owns 40
percent of the ROF stock and Carlos owns 60 percent. Tiffany will
receive $305,600 in the liquidation and Carlos will receive the
land and building plus $76,400.
h. What is Carlos’s tax basis in the building and land after the complete liquidation?
In: Accounting
Explain how the inflow of drug profits into low income countries in South and Central America could adversely affect legitimate businesses and diminish economic growth in those countries
In: Economics
Explain how the inflow of drug profits into low income countries in South and Central America could adversely affect legitimate businesses and diminish economic growth in those countries.
In: Economics
Contrast the hypotheses that biogeographers conducting research in either 1918 or 2018, respectively, would use to explain the distribution of closely related plants and animals in South America, Africa, and Australia.
In: Biology
Who were the Scotch - Irish? Discuss the reasons for their immigration to America in the late 17th and Early 18th Century
In: Economics
Discuss the role of women, the women's revolution, and women's rights in early America through the late 1870's.
In: Psychology