Stacy, who is married and sole shareholder of ABC Corporation, sold all of her stock in the corporation for $100,000. Stacy had organized the corporation in 2009 by contributing $225,000 and receiving all of the capital stock of the corporation. ABC Corporation is a domestic corporation engaged in the manufacturing of ski boots. The stock in ABC Corporation qualified as Sec. 1244 stock. The sale results in a(n):
Answers
Answer:
The sale results in an ordinary loss of $100,000 and long-term capital loss of $25,000.
Explanation:
Stacy, who is married and sole shareholder of ABC Corporation, sold all of her stock in the corporation for $100,000. Stacy had organized the corporation in 2009 by contributing $225,000 and receiving all of the capital stock of the corporation. ABC Corporation is a domestic corporation engaged in the manufacturing of ski boots. The stock in ABC Corporation qualified as Sec. 1244 stock. The sale results in AN ORDINARY LOSS OF $100,000 AND LONG-TERM CAPITAL LOSS OF $25,000.
Answer:
ordinary loss of $100,000 and long-term capital loss of $25,000
Explanation:
Up to $100,000 on a joint return of loss realized on disposition of Section 1244 stock is treated as an ordinary loss. So the first $100,000 would be ordinary and the remaining $25,000 would be a LTCL.
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Reconciling an account involves comparing and matching the financial records of an individual or organization with external statements, such as bank statements or supplier invoices, to ensure they align and resolve any discrepancies.
In the context of reconciling an account, discrepancies refer to differences or inconsistencies between financial records and external statements.
These discrepancies can include errors in recording transactions, missing entries, or discrepancies in amounts. The process of reconciling an account involves identifying and resolving these discrepancies by carefully comparing and matching the information from various sources.
By addressing discrepancies, financial records can be brought into alignment with external statements, ensuring the accuracy and reliability of the account's financial information and maintaining a clear and consistent financial record for reporting and analysis purposes.
Learn more about Reconciling here:
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Answer:
checking one's financial records against the bank’s
A.
Explanation: <3
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"1" is the amount of dollars the basket decreased by
**cross multiply the 1 dollar by the 100%
** divide by 8 and you get 12.5%
then the last too blanks are easy ust divid each price into 40
40/8 = 5 baskets
40/7 = 5.71 baskets
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b.Both corporate profits and personal incomes rose, though more flexible smaller firms and wealthier individuals gained the most War.
c.production rested on the conversion of peacetime industries, so overall economic output grew very little U.S. achievements in war production.
d.proved as important to the Allied victory as success on the battlefield
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Answer:
a.
Explanation:
because the worker improved, thx to those job opportunities
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Answer:
The hockey FCI is $53.57 and the golf FCI is 45.12$.
Explanation:
The hockey FCI (HFCI) is $8.45 more expensive than the golf FIC (GFCI). You know that both FICs are in total: $98.69.
1- Subtract $8.45 from the total of $98.69: $90.24.
2- Split the remaining amount in half: $90.24/2: $45.12.
3- The HFCI is $45.12 + $8.45: $53.57.
The GFCI is $45.12.
If you add both FCIs you should get the total $98.69:
$53.57 + $45.12: $98.69$
The hockey FCI is $53.57 and the golf FCI is 45.12$.
I hope this answer helps you!
Answers
In contrast economic preferences are compared to something, so while you might prefer one thing to another, you might not necessarily need it, or you might even need and want both of them!