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1. Kim had the following transactions for 2006:Salary: $48,000Damage award (compensatory) for city bus accident: $18,000Loss on sale of stock investment: $5,600Loan from father to purchase auto: $14,000Alimony paid to ex-wife: $8,000What is Kim's AGI for 2006?
2. John forms a corporation and transfers property having a basis to him of $18,000 and a fair market value of $26,000 to the corporation for 1,000 shares of $10 par stock. One year later, Hal transfers property having a basis to him of $2,500 and a fair market value of $3,500 for 100 shares of the stock. Hal is not related to John. The corporation issued no other stock.How much gain does John recognize on his exchange? What is the basis to John of his 1,000 shares?b. What gain or loss is recognized by the corporation when it issues its shares to John? What is the basis to the corporation of the property it received from John?c. How much gain does Hal recognize on his exchange? What is the basis to Hal of his 100 shares?
3. Shareholders in closely held C-corporations often pay themselves large salaries in order to avoid double taxation on corporate income.Briefly explain the double taxation problem and how paying large salaries to owners avoids it.b. Briefly discuss how the reasonable compensation issue applies to S-corporations.c. Briefly discuss the IRS s position on reasonable compensation for owner-employees of closely held C-corporations.
You know that the return of Momentum Cyclicals' common shares reacts to macroeconomic information 1.80 more times than the return of the market.
Case study: Green Mountain Coffee Roasters, Inc. (GMCR).
Computation of probability of payment and determine the probability of payment that would make Rockwell indifferent between granting credit and the present policy
A portfolio has three investments - 300 shares of Commonwealth Bank- evaluate the portfolio weight of CBA and WOW
All of the following are anticipated effects of the proposed project. Which of these must be included in initial project cash flow related to net working capital?
Estimate the continuation value using the market/book ratio.
Dividends paid to a company's own stockholders of $80,000 would be shown on company's statement of cash flows prepared under indirect techniques as:
Discuss some of the advantages and disadvantages of going public. Have you been with an organization during the time it went public? If so, describe your experience.
Computation of present value of an investment and present value if you receive these payments at the beginning of each year rather than at the end of each year
You determine the capital structure of your company; therefore you should compare the two theories of capital structure and determine what mix of capital structure your company.
A Corporation is unlevered, zero growth firm with expected EBIT of $4 million and corporate tax rate of 40% Find out the optimal debt level according to MM with corporate taxes (with no financial distress)?
What is the yield on the seven-year, AA-rated bond issued by Pettigrew? Disregard cross-product terms; that is, if averaging is required, use arithmetic average.
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