Assume that at the end of 2020, Clampett, Incorporated (an S corporation) distributes property (fair market value of $44,500, basis of $6,500) to each of its four equal shareholders (aggregate distribution of $178,000). At the time of the distribution, Clampett, Incorporated, has no corporate earnings and profits and J. D. Has a basis of $50,600 in his Clampett, Incorporated, stock. How much total income does J. D. Recognize as a result of the distribution

Answers

Answer 1

In this scenario, since Clampett, Incorporated is an S corporation, the income, deductions, and credits of the corporation flow through to the shareholders, and are reported on their individual tax returns.

When an S corporation distributes property to its shareholders, the distribution is generally tax-free to the extent of the shareholder's basis in their stock. Any amount in excess of the shareholder's basis is treated as a capital gain.

In this case, J.D.'s basis in his Clampett, Incorporated stock is $50,600. Since the fair market value of the property he received in the distribution is $44,500 and his basis is greater than that amount, the distribution is tax-free to him. J.D. does not recognize any income as a result of the distribution.

However, it's worth noting that if J.D.'s basis had been less than $44,500, he would have recognized capital gain income equal to the excess of the distribution over his basis. But since his basis is greater than the fair market value of the distributed property, he doesn't have to recognize any income.

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Related Questions

What are examples of keys in a database's second normal form? Check all that apply turn key, foreign key, primary key, multiple key, composite key, composition key.​

Answers

Answer: 2, 3, and 5

Explanation:

Answer:

foreign key, primary key, composite key

Explanation:

True or False. The people in the stock exchange are paid a share from the investors’ profits.?

Answers

Answer:

false

Explanation:

How should disability payments, which are non-taxable, be analyzed in order to fairly calculate the customer’s ability to pay?.

Answers

The person's ability to pay is determined by your T-2 calendar year income is analyzed in order to calculate customer’s ability to pay.

What is disability payments?

Disability payment are the payments given by the government of the nation for the people who are not able to work because of the major issue in their body. This payment has some criteria and based on that criteria a person is liable for liability payments benefits.

Thus, The person's ability to pay is determined by your T-2 calendar year

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A benefit of using association is that it allows the learner to be creative and have fun

Answers

Answer: True

Explanation:

Answer:

True

Explanation:

Innovation and enterprise can help to develop new and niche markets - True or False?

Answers

Answer:

True.

Explanation:

A radical innovation also known as the disruptive innovation is an innovative approach aimed at destroying or supplanting old business strategies and models with an invention to breakthrough and change the whole industries by creating new products.

Hence, an innovation and enterprise can help to develop new and niche markets as the business would be starting afresh and offering new products and services to meet the unending needs or requirements of its customers.

Please help. Atleast the top 2

Please help. Atleast the top 2

Answers

Answer:

Number 1 is Pure Market. Number two is socialist, I'm pretty sure.

Explanation:

Please mark me brainliest if someone else answers :>

What does making a good decision mean?? How can I make a good decision?

Answers

Answer:

A good decision is one that is made deliberately and thoughtfully, considers and includes all relevant factors, is consistent with the individual’s philosophy and values, and can be explained clearly to significant others.

Ways to make good decision:

Set Aside Time to Reflect on Your MistakesStop Thinking About the ProblemFrame Your Problems In a Different WayIdentify the Risks You TakeTake Note of Your OverconfidenceTalk to Yourself Like a Trusted FriendLabel Your EmotionsAcknowledge Your ShortcutsConsider the Opposite

______ is a payment by a firm to a hostile party for the firm's stock at a premium, made when the firm's management feels that the hostile party is about to make a tender offer.

Answers

The answer in the blank is Greenmail
Give Brinley‘s if this helps

KNOWLEDGE CHECK What generally happens when a central bank unexpectedly decreases interest rates? The currency strengthens, then weakens. The currency strengthens. The currency weakens. The currency weakens, then strengthens.

Answers

When a central bank unexpectedly decreases interest rates, the currency weakens.

If a central bank unexpectedly lowers interest rates, it generates a weakening of the currency. This is because lower interest rates make it less attractive for investors to hold the currency, leading to a decrease in demand and a subsequent decrease in value.

Additionally, lower interest rates can lead to an increase in spending and borrowing, which can also contribute to a weakening of the currency. However, it is important to note that there are many factors that influence the value of a currency, and the relationship between interest rates and currency value is not always straightforward.

In conclusion, the correct answer is the currency weakens.

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Answers

Answer:

how long did is take to make that

Explanation:

Lol what is that even

When accrual basis accounting is used expenses are recognized when?

Answers

The accrual basis accounting is used expenses are recognized when expenses are recognized only in the period during which they are paid. The statement is False.

What are Expenses?

The term expenses are used for spending that occurs in the business. Any kind of spending incurred in the activities of any business is referred to as expenses. The profit is calculated by deducting expenses from income.

According to accrual accounting, a business records revenue in the period in which it is earned and expenses in the period in which they are incurred. When expenses are recognized only in the period in which they are paid, the accrual basis of accounting is not utilized.

Therefore, the statement is false.

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The complete question is Probably

When the accrual basis of accounting is used, expenses are recognized only in the period during which they are paid. TRue or false

which of the following is always true for a profit-maximizing single-price monopolist? p > mc p > mr mr = mc all of the above are always true.

Answers

All of the above are always true for a profit-maximizing single-price monopolist. This is because of the basic principles behind monopoly.

When a monopoly sets a single price, it must charge a price higher than its marginal cost in order to make a profit. This means that the price (p) must be greater than the marginal cost (mc). Additionally, the marginal revenue (mr) from the last unit produced must equal the marginal cost, in order for the monopoly to maximize its profit.

Since the marginal cost of the last unit was used to set the price, both demands will be equal in equilibrium. Hence, p > mc and mr = mc must both be true for a single-price monopolist seeking to maximize its profit.

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A business owned by only one person is called a____

A - corporation
B - sole proprietorship
C - partnership
D - limited liability company

Answers

B - sole proprietorship

Your email campaign has an open-rate of 9.6%, and you emailed 25,000 people. How many people opened your email?

Answers

Answer:(25000 × 9.6) / 100

Explanation:

25000 mail is 100% of the email, so 9.6% of them will be the result of the answer i gave



A computer game that can be purchased online and played right away has good _____utility.
A. Form
B. Information
C. Value
D. Time

Answers

D time this is because you didn’t have to do much to set it up

What should a company do to get immediate customer feedback about a product

Answers

Email is the most common tool for requesting client feedback. When a service is rendered or a product is purchased and delivered to a consumer, an email is sent.

Answer:

email

ig it would be email lol i need points

CORRECT ANSWERS ONLY!

1:After your first two years of college, you earn your master’s degree.


False

True

2:An MBA should only appeal to people who want to run a business.


True

False

3:You only need to get a minor if you think you will want to make a career change later in life.


False

True

4:There are two different kinds of bachelor's degrees, a Bachelor of Science and a Bachelor of Arts.


True

False

Answers

Answer:

1. False

2. True

3. False

4. False

Explanation:

1. Associate degree

2. A masters in business administration would be an asset to someone wanting to run a business

3.  A minor is a great way to augment skills

4. There is also a bachelors of fine arts

Homework: Chapter 9 Homework Question 2, P 9-4 (similar to) Part 1 of 2 HW Score: 20%, 1 of 5 points O Points: 0 of 1 Save Pisa Pizza, a seller of frozen pizza is considering Introducing a healthier version of its pizza that will be low in cholesterol and contain no trans fats The firm expects that sales of the new pizza will be $25 million per year. While many of these sales will be to new customers, Pisa Pizza estimates that 37% will come from customers who switch to the new, healthier pizza instead of buying the original version a.

Answers

The incremental sales associated with introducing the new pizza is $15.75 million.

To find the incremental sales, we need to consider the sales of the new pizza and subtract the sales that would have come from customers who switch from the original version.

Step 1: Calculate the sales from customers who switch.

Switched Sales = Total Sales of New Pizza × Percentage of Sales from Switched Customers

Switched Sales = $25 million × 37%

Switched Sales = $9.25 million

Step 2: Calculate the incremental sales.

Incremental Sales = Total Sales of New Pizza - Switched Sales

Incremental Sales = $25 million - $9.25 million

Incremental Sales = $15.75 million

So, the level of incremental sales associated with introducing the new pizza is $15.75 million.

Note: The question is incomplete. The complete question probably is: Pisa Pizza, a seller of frozen pizza is considering Introducing a healthier version of its pizza that will be low in cholesterol and contain no trans fats The firm expects that sales of the new pizza will be $25 million per year. While many of these sales will be to new customers, Pisa Pizza estimates that 37% will come from customers who switch to the new, healthier pizza instead of buying the original version. Assume customers will spend the same amount on either version What level of incremental sales is associated with introducing the new pizza?

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Negative impacts of strikes on businesses as an economic issue

Answers

The major negative impact of strikes on businesses as an economic issue results in less productivity.

What do you mean by business?

A business refers to an organization that is engaged in commercial, industrial, or professional activities.

The negative impact of the strike on businesses is that it affects the teamwork, profitability, and productivity of the business.

Businesses may have to suffer financial and production losses and consumer confidence is badly affected.

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true or false: if close substitutes are available for a particular good, then the demand for that good will be less elastic than if only distant substitutes are available.

Answers

False. In the presence of near substitutes, demand is more elastic.

Do more replacements make the elastic stronger?

According to the concept of an elastic good, which is one where a change in price results in a significant change in demand, the more alternatives there are for an item, the more elastic the good will be.

Alternatives — more or less elastic?

The availability of alternatives raises the elastic factor, which basically means that the more alternatives there are, the more possibilities there are, and as a result, the more options there are, the higher the elastic factor.

How are replacement products related to demand elasticity?

Demand for a good increases when the price of its substitute increases, hence the cross elasticity of demand for substitute goods is always positive. A negative cross-elasticity characterizes the desire for complementary goods, in contrast.

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Under the allowance method of accounting for uncollectible accounts, Group of answer choices the cash realizable value of accounts receivable is greater before an account is written off than after it is written off. Bad Debt Expense is debited when a specific account is written off as uncollectible. is debited when a specific account is written off as uncollectible. the cash realizable value of accounts receivable in the balance sheet is the same before and after an account is written off. Allowance for Doubtful Accounts is closed each year to Income Summary.

Answers

Answer:

how are the answer choices seperated

Yong teaches students with learning disabilities and physical disabilities. Barb teaches computer programming to high school students. Maya works in a private school teaching math to seventh-grade students. Destiny works in a college teaching English to adult students. Tanner helps an elementary school teacher and works under the guidance of that teacher.

Answers

1. Special education teacher
2. Career and technical education teacher
3. Middle school teacher
4. Post secondary teacher
5. Teacher assistant

Answer:

1. Special education teacher 

2. Career and technical education teacher

3. Middle school teacher

4. Post secondary teacher

5. Teacher assistant

Explanation:

What is forms of buisness??

Answers

Answer and Explanation:

Some forms of business are sole proprietorship, partnership, corporation, and s corporation.

Define The Term "Inelastic"​

Answers

Answer:

its about stuff you need day to day

like water, gasoline, housing, and food

when the price goes up or down consumers' buying habits are the same

"static quantity of a good or service when its price changes"

Investopedia lumenlearning

Answer:

: not elastic: such as. a : inflexible, unyielding. b : slow to react or respond to changing conditions

Explanation:

hope it helps you:)

If the reserve ratio is 4 percent, then the money multiplier is.

Answers

If the reserve ratio is 4 percent then the money multiplier will be 0.25 or 25% by applying the formula 1 divided by the required reserve ratio.

What do you mean by money multiplier?

The money multiplier refers to the ratio of commercial bank money to central bank money.

In other words, it refers to the maximum amount of commercial bank money that can be created by central bank money.

It is calculated by dividing 1 by the reserve ratio. So when 1 is divided by 4 percent, it will give 0.25 or 25%.

Therefore, the money multiplier is 0.25 or 25%.

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At January 1, 2024, Café Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. The lease agreement specifies annual payments of $25,000 beginning January 1, 2024, the beginning of the lease, and on each December 31 thereafter through 2031. The equipment was acquired recently by Crescent at a cost of $171,000 (its fair value) and was expected to have a useful life of 12 years with no salvage value at the end of its life. Because the lease term is only 9 years, the asset does have an expected residual value at the end of the lease term of $4,666. Crescent seeks a 8% return on its lease investments.Required: 1. What will be the effect of the lease on Cafe Med's earnings for the first year? 2. What will be the balances in the balance sheet accounts related to the lease at the end of the first year for Cafe Med?

Answers

The lease is an operating lease since the lease term is less than the useful life of the equipment. Café Med will record the annual lease payment of $25,000 as an operating expense on its income statement for the first year.

Right-of-use asset: The annual amortization expense will be ($171,000 - $4,666) / 9 = $18,519. Therefore, at the end of the first year, the right-of-use asset will be $171,000 - $18,519 = $152,481.

Lease liability: The lease liability will be reduced by the amount of the lease payment made during the year ($25,000). PV of remaining lease payments = $25,000 x [(1 - 1 / (1 + 0.08)^8) / 0.08] = $146,391

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А Pesto Pestoland Pastaland O B DF Pasta Match each country to its circumstances. Pestoland exports Pastaland has a comparative advantage in [Choose) Pastaland pesto Pestoland pasta higher than Pastaland's wages lower than Pastaland's wages Pestoland's wages are Pre-trade pasta prices are highest in [Choose Pre-trade pesto prices are highest in [Choose)

Answers

Comparative AdvantageThe theory of comparative advantage is a classic economic concept that provides insight into how countries can gain from trading with one another. In the Pesto Pestoland Pastaland O B DF Pasta scenario, we can identify which country has a comparative advantage in producing the goods mentioned.

In general, countries specialize in the production of goods that they are relatively more efficient at producing in terms of cost, meaning that they can produce more units at a lower cost than other countries. Pestoland exports pasta. Pastaland has a comparative advantage in pesto.

Therefore, it is more efficient to produce pesto in Pastaland than it is to produce pasta, given that Pestoland is more efficient in pasta production than Pastaland. Before trading, pasta prices are highest in Pastaland, while pesto prices are highest in Pestoland. Pestoland's wages are lower than Pastaland's wages.

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How accurate are measures of poverty? Measures of poverty, such as the poverty rate, are inaccurate in that they include noncash benefits such as food stamps. inaccurate in that they are based on income with government transfer payments included. accurate in that they are snapshots in time. inaccurate in that they ignore the effects of government programs meant to reduce poverty. accurate for the United States but not for other countries around the world.

Answers

Measures of poverty, such as the poverty rate, are inaccurate in that they include noncash benefits such as food stamps.

The poverty rate, commonly used to measure poverty, is calculated based on income thresholds set by the government. However, it is important to note that these measures often include noncash benefits, such as food stamps or housing subsidies, when determining an individual's income. This inclusion of noncash benefits can potentially inflate the reported income and lead to an inaccurate representation of the poverty level.

Including noncash benefits in the calculation of poverty rates can be misleading because these benefits do not directly increase an individual's cash income, which is often a more accurate indicator of economic well-being. By incorporating noncash benefits, the poverty rate may appear lower than it would if only cash income were considered, giving a potentially distorted view of the actual poverty situation.

Measures of poverty, such as the poverty rate, are inaccurate in that they include noncash benefits such as food stamps. To gain a more comprehensive understanding of poverty, it is important to consider both cash income and noncash benefits separately and evaluate their impact on an individual's economic situation.

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Jaiden is in 6th grade and plans to attend college. He has created a college preparation plan. 1. He will fill out the FAFSA form and send it in immediately. 2. He will ask his parents if they have a college savings account. 3. When he gets to high school, he will start trying harder in school so he can qualify for academic scholarships. 4. During his last year of high school, he will get involved in sports and clubs he enjoys to qualify for scholarships. 5. Upon graduation, he will start saving money for college. Which statements identify errors in Jaiden’s plan? Check all that apply. He should wait until his last year in high school to fill out the FAFSA. He should start saving right away. It is never too early to start a savings account. He should work hard throughout middle school and high school or it might be too difficult for him to excel later, since bad habits are hard to break. He should try different sports and clubs in middle school and early high school. Then he should pick his favorites and invest more time in them. While in high school, he should quit all extracurricular activities so he can work more hours and save money. He should ask all his friends and neighbors to contribute to his college fund so it will grow faster.

Answers

Answer:

-He should wait until his last year in high school to fill out the FAFSA.

-He should start saving right away. It is never too early to start a savings account.

-He should work hard throughout middle school and high school or it might be too difficult for him to excel later, since bad habits are hard to break.

-He should try different sports and clubs in middle school and early high school. Then he should pick his favorites and invest more time in them.

Explanation:

Answer:

1

4

5

I did the test and pretty sure i got it correct

a service was performed for a client with payment due in 30 days what accounts are affected

a) debit Capital, Credit bank
b) debit accounts receivable, credit capital
c) debit Bank, credit accounts receivable
d) credit accounts payable, debit capital ​

Answers

Answer:

b) debit accounts receivable, credit capital

Explanation:

Performing service is part of normal business activities. It generates revenue for the business.

Once a service has been performed, revenue increases. Revenue is an equity account (it increases the owner's equity). An increase to an equity account is recorded by crediting the account.

The payment will be received in 30 days. This is an increase in accounts receivables ( asset account). An increase in assets is recorded as a debit.

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