Questions
Since September 11th, the United States has struggled with the possibility of having to exist in...

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?...

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.

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...

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...

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...

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...

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...

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...

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...

Discuss the role of women, the women's revolution, and women's rights in early America through the late 1870's.

In: Psychology