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Geoffery and Sue are equal owners of Norse Corporation. They are considering a sale of the business. How much after tax cash will they have if they sell Norse's assets? How much if they sell the stock? assets? How much if they sell th
Adjusted sell 2500000 2500000Basis FMV asset basis -1450000Cash 50000 50000 1050000Inventory 80000 120000 tax rate 35%Furniture and fixtures * 70000 80000 367500 -367500Building ** 250000 400000 cash to shareholder 2132500 2132500Land 1000000 1500000 stock basis -500000Total 1450000 2150000 163250020%Sale price 2500000 326500 -3265001806000Geoffery's stock basis 250000Sue's stock basis 250000 Sale proceeds 2500000 2500000stock basis 500000 Accumulated MACRS depreciation 50000 2000000 Accumulated Straight Line depreciation 300000 capital gain rate 0.2400000 -4000002100000
Geoffery and Sue are equal partners of Norse LLC. They are considering a sale of the business. How much after tax cash will they have if they sell Norse's assets?
AdjustedBasis FMV GainCash 50000 50000 0Inventory 80000 120000 40000 35% 14000 ord incomeFurniture and fixtures * 70000 80000 10000 35% 3500 § 1245Building ** 250000 400000 150000 25% 37500 § 1250Land 1000000 1500000 500000 20% 100000 § 1231Total 1450000 2150000 01050000 20% 210000 LTCGSale price 2500000 365000
Geoffery's basis 250000 sale proceeds 2500000Sue's basis 250000 tax -365000cash 2135000 Accumulated MACRS depreciation 50000 Accumulated Straight Line depreciation 300000
Determine net cash flow from operations
Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $21,500 (original cost of $47,000 less accumulated depreciation of $25,500) and a fair value of $10,900. Kapono paid $39,000 cash to complete the exchange..
These dividends are paid on 7/1/12. For period of 1/1/12 to 12/31/12 Company XYZ has a net loss of $600,000 and market price of its shares is $12 for each share.
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Determine the potential problems that can exist when comparability of asset conditions cannot be made within an agency and with other agencies. Suggest how these problems may be minimized
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