On january 1 year 1 jessica received 10000 shares of

Assignment Help Accounting Basics
Reference no: EM13576954

On January 1, year 1, Jessica received 10,000 shares of restricted stock from her employer, Rocket Corporation. On that date, the stock price was $10 per share. On receiving the restricted stock, Jessica made the §83(b) election. Jessica's restricted shares will all vest at the end of year 4. After the shares vest, she intends to sell them immediately to fund an around-the-world cruise. Unfortunately, Jessica decided that she couldn't wait four years and she quit her job to start her cruise on January 1, year 3.

A. What are the year 1 tax consequences of these transactions to Jessica, assuming her marginal tax rate is 33 percent and her long-term capital gains rate is 15 percent?

Reference no: EM13576954

Questions Cloud

If a random variable x has the uniform 01 distribution and : if a random variable x has the uniform 01 distribution and y2x-1. find pyley for all such values y by reexpressing the
The freema company at december 31 has cash 19033 noncash : the freema company at december 31 has cash 19033 noncash assets 106100 liabilities 51797 and the following capital
A survey was conducted in indiana kentucky and ohio to : a survey was conducted in indiana kentucky and ohio to determine the attitude of voters concerning school busing. a
Which of the following is true regarding proprietary fund : 1. which of the following is true regarding proprietary fund accounting the economic resources measurement focus and
On january 1 year 1 jessica received 10000 shares of : on january 1 year 1 jessica received 10000 shares of restricted stock from her employer rocket corporation. on that
Sibble corporation is considering the purchase of a machine : sibble corporation is considering the purchase of a machine that would cost 320000 and would last for 5 years. at the
Find the standard deviation given that the probability of : the quantity of milk in a bottle is normally distributed with mean 1000ml. find the standard deviation given that the
Food company is considering a modification to one of its : food company is considering a modification to one of its main products next year that would make it more attractive to
George is supplementing his income in 2014 by building and : george is supplementing his income in 2014 by building and selling 20000 ant hills. he ended 2013 with 2000 completed

Reviews

Write a Review

Accounting Basics Questions & Answers

  Nokia inc has two user departments wireless communications

nokia inc. has two user departments wireless communications amp digital communications. the two support departments are

  Prepare an activity table of cost analyses to calculate the

company a maintains an accounts receivable department that currently employs 8 people. they are interested in doing an

  Communicate the financial health of an organization

Describe the purpose of each financial statement. Determine which one (1) is the most effective in communicating the financial health of an organization.

  Harry hermione and ron formed an s corporation called

harry hermione and ron formed an s corporation called bumblebore. harry and hermione both contributed cash of 25000 to

  Preferred and common stockholders receive under assumptions

As of December 31, 2011, it is desired to distribute $488,000 in dividends. Insructions: How much will the preferred and common stockholders receive under the following assumptions:

  Worthington company purchased a machine on january 1 2008

worthington company purchased a machine on january 1 2008 for 3600000. at the date of acquisition the machine had an

  Which of the following is an merits of corporations

which of the following is an advantage of corporations relative to partnerships and sole proprietorships?reduced legal

  When corporation issues its capital stock in payment for

when a corporation issues its capital stock in payment for services the least appropriate basis for recording the

  Sold land and subsidiary for a gain

Parent sold land to its subsidiary for a gain in 2007. The subsidiary sold the land externally for a gain in 2010. Which of the following statements is true?

  What is the depreciation base of asset

The estimated salvage value is $20,000, and the estimated useful life is 10 years. The straight-line method will be used for depreciation. What is the depreciation base of this asset?

  John and ellen brite are married and file a joint return

John and Ellen Brite are married and file a joint return. They have no dependents. John owns an unincorporated specialty electrical lighting retail store, Brite-On. Brite-On had the following assets on January 2, 2013:

  Balance sheet data

Balance Sheet Data

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd