Business, 08.07.2021 21:00 KingKayyy2322

Skylark Corporation owned 100% of the outstanding stock of Quail Corporation, having purchased the stock six years ago for $200,000. Pursuant to a plan of liquidation adopted by Quail Corporation earlier in the current year, Quail distributed all its property to its shareholder. Quail Corporation had never been insolvent and had E & P of $700,000 on the date of liquidation. Pursuant to the liquidation, Quail distributes property worth $650,000 (basis $340,000) to Skylark Corporation. How much gain must the parties recognize on the transfer of this property to Skylark Corporation? a. $0 as to both Skylark Corporation and Quail Corporation.
b. $140,000 as to Skylark Corporation.
c. $450,000 as to Skylark Corporation.
d. None of the above.
e. $310,000 as to Quail Corporation.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 21:20

According to the u.s. census bureau (), the median household income in the united states was $23,618 in 1985, $34,076 in 1995, $46,326 in 2005, and $57,230 in 2015. in purchasing power terms, how did family income compare in each of those four years? you will need to know that the cpi (multiplied by 100, 1982–1984 = 100) was 107.6 in 1985, 152.4 in 1995, 195.3 in 2005, and 237.0 in 2015

Answers: 3

Answer

Business, 22.06.2019 12:30

M. cotteleer electronics supplies microcomputer circuitry to a company that incorporates microprocessors into refrigerators and other home appliances. one of the components has an annual demand of 235 units, and this is constant throughout the year. carrying cost is estimated to be $1.25 per unit per year, and the ordering (setup) cost is $21 per order. a) to minimize cost, how many units should be ordered each time an order is placed? b) how many orders per year are needed with the optimal policy? c) what is the average inventory if costs are minimized? d) suppose that the ordering cost is not $21, and cotteleer has been ordering 125 units each time an order is placed. for this order policy (of q = 125) to be optimal, determine what the ordering cost would have to be.

Answers: 1

Answer

Business, 22.06.2019 13:30

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.

Answers: 1

Answer

Business, 22.06.2019 14:30

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided

Answers: 1

Answer

You know the right answer?

Skylark Corporation owned 100% of the outstanding stock of Quail Corporation, having purchased the s...

Questions