Mr. zj owns a sole proprietorship. the business assets have a $294,000 aggregate adjusted basis. according to an independent appraisal, the business is worth $431,000. mr. zj transfers his business to zjl corporation in exchange for 1,000 shares of zjl stock. in each of the following cases: compute mr. zj’s recognized gain on the exchange of assets for stock. assume immediately after the exchange, zjl has 20,000 shares of outstanding stock, of which mr. zj owns 1,000 shares. compute mr. zj’s recognized gain on the exchange of assets for stock. assume immediately after the exchange, zjl has 1,500 shares of outstanding stock, of which mr. zj owns 1,000 shares. compute mr. zj’s recognized gain on the exchange of assets for stock. assume immediately after the exchange, zjl has 1,200 shares of outstanding stock, of which mr. zj owns 1,000 shares.

Peppy roaney believes that pizza is a much more versatile dish than most people realize. as the national marketing manager for pizza guys, he observed how consumers were delighted with barbecue pizza, hawaiian pizza, mexican pizza and other unique combinations. his suggestions for other unusual pizzas, however, were met with a negative response by his superiors. even some of his colleagues laughed at his ideas. peppy's confidence in his ability to understand the market has led him to focus on planning a business of his own. peppy realizes that he will take a risk when he leaves his job with pizza guys and embarks upon a new venture: peppy's pizzazzeria. peppy is excited about the potential of profitably catering to the unmet desires of pizza consumers. peppy is confident that peppy's pizzazzeria will be a success, but only if he has enough money to do things right. since peppy has very little personal wealth, he knows he must obtain financial assistance. in order to prepare for meetings with bankers and p

Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)

Dakota products has a production budget as follows: may, 16,000 units; june, 19,000 units; and july, 24,000 units. each unit requires 3 pounds of raw material and 2 direct labor hours. dakota desires to keep an inventory of 10% of the next month’s requirements on hand. on may, 1 there were 4,800 pounds of raw material in inventory. direct labor hours required in may would be: