shareholders of a corporation to defer recognition of a gain or loss on the transfer of assets to the corporation. The transfer of property may be made when a new corporation is formed or may reflect additional capital contributions to an existing corporation. Without Section 351‚ a sole proprietorship or a partnership would have difficulty adopting the corporate form of organization for legal and/or tax purposes because the transfer of appreciated property would constitute a taxable transaction in
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cultural/ political 5- Social media is used for customer services as well as marketing of product and promotion. Technological. Threat 1- Competitors have larger distribution areas. Demographic. 2- Inflation rate could be higher‚ lacking due to fall
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means is that it doesn’t matter what you want‚ you will always be connected to anything at all times. This essay will show you how Adolf Hitler is connected to Happiness. Hitler was a Notorious dictator who was responsible for the deaths of 5.5 million jews. First off Adolf hitler was the chancellor of Germany then later became the dictator of Germany. How did he get away with this dictator ship? Hitler got Germany out of the great depression‚ gaining some trust from the german citizens. Then he
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account receivable from Green Corporation for $15‚000. During the year‚ James collected $17‚000 in final settlement of the account. James can take a $2‚000 bad debt deduction in the current year. True False 2. If a business debt previously deducted as partially worthless becomes totally worthless this year‚ only the amount not previously deducted can be deducted this year. True False 3. Last year‚ taxpayer had a $10‚000 nonbusiness bad debt. Taxpayer also had an $8‚000 short-term capital
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AGRICULTURAL INCOME What is agricultural Income Section 2(1A) (a) any rent or revenue derived from land which is situated in India and is used for agricultural purposes; (b). any income derived from such land by agricultural or by the process employed to render the produce fit for market or by sale of such produce by a cultivator or receiver of rent-in-kind; (c). any income derived from a building provided following conditions are satisfied: - (i). The building is situated on or immediate
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Decision Case 5-10 a). The CEO is mainly concerned with reporting the highest amount of income possible. Thus the CEO will be pleased if the company uses the FIFO method. This method recognizes as cost of goods sold the oldest costs‚ and because prices are rising‚ the costs charged to cost of goods sold will be less than if LIFO is used. b). It would be difficult to state absolutely which method is truly in the best interest of the stockholders‚ as FIFO results in lower COGS on the income report; it
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positively correlated (i.e.‚ the correlation coefficient is +1.0) and these stocks have identical standard deviations‚ an equally weighted portfolio of the two stocks will have a standard deviation that is less than that of the individual stocks. | | 5. Brodkey Shoes has a beta of 1.30‚ the T-bill rate is 3.00%‚ and the T-bond rate is 6.5%. The annual return on the stock market during the past 3 years was 15.00%‚ but investors expect the annual future stock market return to be 13.00%. Based on the
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American culture had a slow steady start‚ and for a while it seemed as though it would remain that way. This was until an island on the coast of New York changed American culture and society. This island was called Coney Island. What was Coney Island and what did it bring to the Americans? It was an island that fulfilled the changing wants of American’s. This island influenced American’s wants from labor‚ and high society to leisure. Though the island didn’t remain on its all-time-high forever
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Definition of Gross Income‚ Taxable Income‚ and Net Income Gross income refers to all income but not excluding exempt income and subject to final income tax. Example of gross income include: salaries and wages‚ commission‚ sale of and other dealings in property‚ rents‚ dividends‚ and securities. Exclusion from gross income or those incomes that are exempted from tax include: life insurance proceeds paid to beneficiaries upon the death of the insured; compensation for injuries or sickness‚ retirement
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If I had 1 million dollars I would spend most if not all on jewelry or cars (even though I cant drive) i’ll just sit in it. I think if I had to choose something unique I would buy two 100‚000 houses side by side‚ tear them down and make a bigger nicer house. I would most likely spend 600‚000 or 700‚000 on the new house after the houses are brought. After that I would buy a red Ferrari and jewelry until the rest of the money is used up. I would but a red Ferrari because my favorite color
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