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Acquiring Corporation transfers 5,000 shares of its stock worth $300,000 and land worth $50,000 (basis to Acquiring $30,000) for all of the assets of Target Corporation. The stock and land is distributed to Kim, Target's sole shareholder, in exchange for all of his stock in Target. Kim's basis in his stock is $380,000. Which is the recognized gains or losses on this reorganization?
Bakker Corporation applies manufacturing overhead on the basis of direct labor-hours.
Fairfield company spends an additional $30,000 on advertising sales volume should increase by 2,500 units. What effect will this have on the operating income? and by how much?
b-mart sells 5000 of blue jeans. the customer later tells b-mart that 200 of them are defective. the sale of the 5000
marlow company uses a perpetual inventory system. it entered into the following calendar-year 2011 purchases and sales
Calculate the investment income and the ending balance in the investment account on the balance sheet for ABC Company on December using the cost method.
1 the assignment of costs to cost of goods sold and to inventory using specific identification is the same for both the
linda and sara are partners who share profits 60 and 40.their capital balances were both 180000 before kim was admitted
Prepare the journal entries to record the mortgage loan and thefirst two installment payments.
consider the following table of revenue and costs at the end of the
mitchell company had the following budgeted sales for the last half of last year cash salescredit
manuel inc. reported net income of 2.50 million in 2014. depreciation for the year was 160000 accounts receivable
In the current year, Blue Corporation (E & P of $1 million) redeems 100 shares from Eleanor for $290,000 in a transaction that does not qualify for sale or exchange treatment. With respect to the redemption, Eleanor will have a:
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