Business, 07.03.2020 00:37, azibur3191
Viking Corporation is owned equally by Sven and his wife Olga, each of whom hold 100 shares in the company. Viking redeemed 75 shares of Sven's stock in the company on December 31, year 1. Viking paid Sven $2,000 per share. His income tax basis in each share is $1,000. Viking has total E&P (current plus accumulated) of $500,000. What are the tax consequences to Sven as a result of the stock redemption? A) $75,000 capital gain and a tax basis in each of his remaining shares of $2,000. B) $150,000 dividend and a tax basis in each of his remaining shares of $4,000. C) $150,000 dividend and a tax basis in each of his remaining shares of $1,000. D) $75,000 capital gain and a tax basis in each of his remaining shares of $1,000.
Answers: 3
Business, 21.06.2019 21:30, elopezhilario6339
He set of companies a product goes through on the way to the consumer is called the a. economic utility b. cottage industry c. market saturation d. distribution chain
Answers: 3
Business, 22.06.2019 14:30, Hannahdavy5434
Stella company sells only two products, product a and product b. product a product b total selling price $50 $30 variable cost per unit $20 $10 total fixed costs $2,110,000 stella sells two units of product a for each unit it sells of product b. stella faces a tax rate of 40%. stella desires a net afterminustax income of $54,000. the breakeven point in units would be
Answers: 3
Business, 22.06.2019 19:30, livimal77
At december 31, 2016, pina corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,810 shares $10,781,000 common stock, $5 par, 4,026,000 shares 20,130,000 during 2017, pina did not issue any additional common stock. the following also occurred during 2017. income from continuing operations before taxes $21,950,000 discontinued operations (loss before taxes) $3,505,000 preferred dividends declared $1,078,100 common dividends declared $2,300,000 effective tax rate 35 % compute earnings per share data as it should appear in the 2017 income statement of pina corporation
Answers: 1
Viking Corporation is owned equally by Sven and his wife Olga, each of whom hold 100 shares in the c...
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