How much will be debited to the equipment account
Cost of equipment 20,000, accumulated depreciation 12,500. If the partner deemed the market value to be 9,000 how much will be debited to the equipment account?
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Evan Erman transferred inventory to a corporation in a Code Sec. 351 transaction. His basis in the inventory was $10,000 and its value was $8,000. If he received $2,000 in cash and 100 shares of stock, the resulting bases are:
How much consumer surplus would be created by randomly assigning buyer to sellers? Which method gives the larger surplus?
Prior to a charitable gift to the Plato University of land with a basis of $6,000 and a value of $13,000, All-Set, Inc. had taxable income of $50,000. If the dividends-received deduction was $80,000, the charitable contribution deduction is:
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Inc. had gross receipts from operations of $230,000, operating and other expenses of $310,000, and dividends received from a 45 percent-owned domestic corporation of $120,000. Hoover's tax position for the year is:
Productivity often rises during economic expansions and falls during economic recessions. Can you think of reasons why? Briefly explain. (Hint: Remember that the level of productivity involves both levels of output and levels of labor input.)
What are the new equilibrium price and quantity? How much of the tax is borne by consumers and how much by producers? What is the new CS and PS? What is tax revenue?
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