User Account

All Pages

What is the result to the S corporation

Assignment Help Accounting Basics
Reference no: EM132436163

Question - An S corporation that was formerly a C corporation sells an asset for $300,000. The asset had a basis to the corporation of $200,000. This asset is subject to the built-in-gains tax, and all of the gain realized from the sale was built-in at the date of conversion from a C corporation to an S corporation.

Part A: What is the result to the S corporation?

Part B: What is reported to the shareholder as a result of this sale?

Reference no: EM132436163

Questions Cloud

Identify how each item might influence sample size : In the case of Consumer Home Electronics Warehouse, identify how each item might influence sample size (while holding the other items constant)
Explain potential implications of sampling risk for audit : Question - Sampling and non-sampling risk for substantive testing. Explain the potential implications of sampling risk for the audit of revenue recognition
Identify a potential application for audit data analytics : Identify a potential application for audit data analytics in the audit of NFW. Explain the application and the assertion(s) tested by the application
What is the amount of her student loan interest deduction : The amount of interest paid during the year amounted to $3,000. What is the amount of her student loan interest deduction if her AGI is $73,000
What is the result to the S corporation : An S corporation that was formerly a C corporation sells an asset for $300,000. What is the result to the S corporation
Find accumulated depreciation by end of the second year : A delivery van that cost $40,000 has an expected service life of 180,000 miles. Accumulated depreciation by the end of the second year of the asset's life
What is her taxable income : Yvette Bradbury is an account representative at Commerce Savings Bank, earning $45,600 annually, What is her taxable income
Calculate the deductible amount of taxes : Town real estate tax 9,000 Excise tax on personal realty 1,000. Calculate the deductible amount of taxes with Tendai's itemized deductions
What was the medieval model of the universe : What was the Starry Messenger?What was the most important question facing the Estates General in the months before it met?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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