for 2,000,000. It transferred ownership thereto to its managerial employee for 1,200,000 when its fair value was 3,000,000. What is the monetary value of the benefit? O 3,000,000 O 2,000,000 O 1,800,000 O 800,000

An S-Corporation has ownership of a piece of land with an adjusted basis of $10,000 and a FMV of $100,000. It distributes this land to a shareholder, what basis would the shareholder have in this land? a. $0 b. It would depend on the shareholder's inside basis c. $90,000 d. $100,000 e. $10,000

Sh4 Please help me.  Solution  Thankyou

______21. The acquisition costs of property, plant, and equipment should include all normal, reasonable and necessary costs to get the asset in place and ready for use.   ____   22.   An estimate of the amount which an asset can be sold at the end of its useful life is called residual value.   ____   23.   Federal unemployment taxes are paid by the employer and the employee.   ____   24.   When minor errors occur in the estimates used in the determination of depreciation, the amounts recorded for depreciation expense in the past should be corrected.   ____   25.   Residual value is not relevant when calculating the annual depreciation expense using the double declining-balance method (do not consider the calculation for the final year).   True and False questions

Kk.192. Vertical, Inc., has a 2022 net § 1231 gain of $67,000 and had a $22,000 net § 1231 loss in 2021. For 2022, Vertical’s net § 1231 gain is treated as: $45,000 long-term capital gain and $22,000 ordinary loss. $67,000 ordinary gain. $45,000 long-term capital gain and $22,000 ordinary gain. $67,000 capital gain

In a like - kind exchange, Greyland exchanged investment - use real property (FMV $210,000, adjusted basis $190,000) for a smaller piece of investment - use property (FMV $200,000) plus $10,000. They will report a $10,000 gain on the exchange. What is their basis in the replacement property? $170,000 $180,000 $190,000 $200,000

Company A purchased company B for $50,000,000. Company B had net assets of $30,000,000, therefore $20,000,000 was paid in excess of the fair value of the net assets.  What does this $20,000,000 premium paid by company A represent?  In other words, what is this called?

For 2020, Garden Corporation has 800.000 of gross profit from its sales and $410,000 of operating expenses. Garden makes $90,000 of cash charitable contributions during 2020 Inot inchuded in the other amounts). How much of these contributions can it deduct for 2020? (Note that this is for 2020, ie, 25%) O $75.000 O $97.500 $22.500 O $90.000

Both the managing director and regional manager of Trail Ltd have the benefit of the use of company cars which may also be used for private purposes. The total benefit for the use of the cars are estimated at R350 000 per year, of which 35% is for private use and 65% for business purposes. The total amount that should be disclosed in remuneration as other 7. benefits should be: 1. R122 500 2. R227 500 3. R245 000 4. R455 000

After reading Catch Engineering Partnership v. Mai, 2023 ABKB 279, the court assessed Catch's 2021 damages attributable to Mr. Mai in the amount of (Put your answer in as a dollar figure - ex- $25,000): Answer