Philp Inc. sold equipment with a $132,900 adjusted tax basis for $200,000. The purchaser paid $20,000 in cash and assumed Philp's $180,000 mortgage on the asset. Compute Philp's net cash flow from the sale assuming a 21% tax rate.
A. $20,000
B. -0-
C. $15,800
D. None of the above
Answer: D
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Club membership programs that are open to everyone who purchases a product or service ________
A) are more powerful long-term loyalty builders than limited-membership clubs B) will not help a company attract customers from competitors C) prevent those with only a fleeting interest in a company's products from joining D) are useful for building a database of customers but are not very good as long-term loyalty builders E) are useless unless there are fees and membership conditions
Kurt, a computer sales representative, ran a small restaurant business from his home to supplement his income. He converted his large living room into an eatery with minimal seating
His mother and brother managed the kitchen, while he coordinated orders and waited upon customers. Upon realizing that Kurt was running a restaurant, the landlord evicted Kurt and his family. In the scenario, we can infer that ________. A) Kurt received the rented property in conditions that were uninhabitable B) Kurt was evicted for using the rented property for illegal or nonstipulated purposes C) Kurt failed to comply with the building codes of the area in which he lived D) Kurt failed to claim his freehold estate on the rented property within the stipulated period
A special shareholders' meeting may be called by any person authorized to do so by the articles
of incorporation or bylaws. Indicate whether the statement is true or false
Good salespeople ________.
A. believe in what they are selling B. feel good about what they are selling C. All of these. D. None of these.