![subject](/tpl/images/cats/ekonomika.png)
Jefferson Millinery Inc. (JMI) decided to liquidate its wholly owned subsidiary, 8 Miles High Inc. (8MH). 8MH had the following tax accounting balance sheet:
FMV Adjusted Basis Appreciation
Cash $200,000 $200,000
Building 50,000 10,000 $40,000
Land 150,000 200,000 (50,000)
Total $400,000 $410,000 $(10,000)
a. What amount of gain or loss does 8MH recognize in the complete liquidation?
b. What amount of gain or loss does JMI recognize in the complete liquidation?
c. What is JMI's tax basis in the building and land after the complete liquidation?
![ansver](/tpl/images/cats/User.png)
Answers: 1
![](/tpl/images/ask_question.png)
![](/tpl/images/ask_question_mob.png)
Another question on Business
![question](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 04:00
Match the type of agreements to their descriptions. will trust living will prenuptial agreement
Answers: 2
![question](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 16:30
Bernard made a gift of $500,000 to his brother in 2014. due to bernard’s prior taxable gifts he paid $200,000 of gift tax. when bernard died in 2019, the applicable gift tax credit had increased. at bernard’s death, what amount related to the $500,000 gift to his brother is included in his gross estate?
Answers: 3
![question](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 18:00
During the holiday season, maria's department store works with a contracted employment agency to bring extra workers on board to handle overflow business, and extra duties such as wrapping presents. maria's is using during these rush times.
Answers: 3
![question](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 20:20
Which of the following entries would be made to record the requisition of $12,000 of direct materials and $6,900 of indirect materials? (assume that indirect materials are included in raw materials inventory.) a. manufacturing overhead 18,900 raw materials inventory 18,900 b. wip inventory 12,000 manufacturing overhead 6,900 raw materials inventory 18,900 c. raw materials inventory 18,900 wip inventory 18,900 d. wip inventory 18,900 raw materials inventory 18,900
Answers: 1
You know the right answer?
Jefferson Millinery Inc. (JMI) decided to liquidate its wholly owned subsidiary, 8 Miles High Inc. (...
Questions
![question](/tpl/images/cats/en.png)
English, 04.12.2020 18:30
![question](/tpl/images/cats/mat.png)
Mathematics, 04.12.2020 18:30
![question](/tpl/images/cats/himiya.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 04.12.2020 18:30
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/ekonomika.png)
Business, 04.12.2020 18:30
![question](/tpl/images/cats/en.png)
English, 04.12.2020 18:30
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/biologiya.png)
Biology, 04.12.2020 18:30
![question](/tpl/images/cats/mat.png)
Mathematics, 04.12.2020 18:30
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/nemec.png)
German, 04.12.2020 18:30
![question](/tpl/images/cats/mat.png)
Mathematics, 04.12.2020 18:30
![question](/tpl/images/cats/en.png)
English, 04.12.2020 18:30
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/fizika.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 04.12.2020 18:30
![question](/tpl/images/cats/himiya.png)
![question](/tpl/images/cats/istoriya.png)
![question](/tpl/images/cats/geografiya.png)
Geography, 04.12.2020 18:30