In 2012, byron was granted 4.000 stock options by his employer, buxton corporation. the options vested at the date of grant and must be exercised within 8 years from the grant date. each option allowed byron to purchase one share of buxton corporation stock for $12 per share. on the date the options were granted to byron in 2011, buxton corporation stock was selling for $12 per share. in 2017, when buxton corporation stock was selling for $23 per share, byron exercised all his options and purchased 4,000 shares of buxton corporation. in 2019. byron sold all 4,000 shares in buxton corporation stock for $39 per share. a. what are the federal income tax consequences to byron and buxton corporation in 2012. 2017 and 2019 if the buxton corporation options granted to byron were nonqualified stock options (nqsos)? you may ignore alternative minimum tax (amt) for this question. show your work and explain your calculations. (4 points) what are the federal income tax consequences to byron and buxton corporation in 2012, 2017, and 2019 if the buxton corporation options granted to byron were qualified incentive stock options (isos)? you may ignore alternative minimum tax (amt) for this question. show your work and explain your calculations. (4 points)

Which of the following statements is correct? a) one drawback of forming a corporation is that it generally subjects the firm to additional regulationsb) one drawback of forming a corporation is that it subjects the firms investors to increased personal liabilitiesc) one drawback of forming a corporation is that it makes it more difficult for the firm to raise capitald) one advantage of forming a corporation is that it subjects the firm's investors to fewer taxese) one disadvantage of forming a corporation is that it is more difficult for the firm's investors to transfer their ownership interests

Ryan terlecki organized a new internet company, capuniverse, inc. the company specializes in baseball-type caps with logos printed on them. ryan, who is never without a cap, believes that his target market is college and high school students. you have been hired to record the transactions occurring in the first two weeks of operations. issued 2,900 shares of $0.01 par value common stock to investors for cash at $29 per share. borrowed $68,000 from the bank to provide additional funding to begin operations; the note is due in two years. paid $1,000 for the current month's rent of a warehouse and another $1,000 for next month's rent. paid $1,440 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense). purchased furniture and fixtures for the warehouse for $16,000, paying $3,200 cash and the rest on account. the amount is due within 30 days. purchased for $2,800 cash the university of pennsylvania, notre dame, the university of texas at austin, and michigan state university baseball caps as inventory to sell online. placed advertisements on google for a total of $340 cash. sold caps totaling $1,900, half of which was charged on account. the cost of the caps sold was $1,100. (hint: make two entries.) made full payment for the furniture and fixtures purchased on account in (e). received $280 from a customer on account.

You and your new australian bride matilda, are applying for a loan and are required to submit a balance sheet with your net worth. you own a 2008 toyota camry that you bought last month for $9,995. the kelly blue book value for this car is $13,995. you owe $8,150 on the car loan for the camry. you pay off your visa credit card every month and have not paid any credit card interest this year. the current visa credit card balance is $3,522, and the next statement is due in 15 days. you have a student loan balance of $6,500. you presently have $425 in your checking account and $1,540 in your savings account. you own 100 shares of ibm stock that you purchased for $85.50 per share. one share of ibm is now selling for $158.42. you own computers and other electronics that you purchased for $4,100 but could probably sell today on e-bay for $1,800. your gross income is $80,000 per year. what is your current net worth? (see wb ch. 2 example 2.3)