Wood, a U.S. corporation, owns Holz, a German corporation. Wood receives a dividend (non-Subpart F income) from Holz of 75,000€. The average exchange rate for the year is $1US: 0.6€, and the exchange rate on the date of the dividend distribution is $1US: 0.8€. Wood's exchange gain or loss is:
a. $15,000 loss.
b. $15,000 gain.
c. $75,000 gain.
d. $0 . There is no exchange gain or loss on a dividend distribution.
d
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An investment of $2,000 provides an average net cash flows of $480 with zero salvage value. Depreciation is $40 per year. The accounting rate of return using the original investment is
A) 40% B) 20% C) 22% D) 44% E) 24%
Which of the following is not an information cleansing activity?
A. Identifies missing records or attributes. B. Identifies redundant records. C. Identifies inaccurate or incomplete data. D. Identifies sales trends.
A partial listing of costs incurred at Archut Corporation during September appears below: Direct materials$113,000Utilities, factory$5,000Administrative salaries$81,000Indirect labor$25,000Sales commissions$48,000Depreciation of production equipment$20,000Depreciation of administrative equipment$30,000Direct labor$129,000Advertising$135,000The total of the product costs listed above for September is:
A. $586,000 B. $50,000 C. $294,000 D. $292,000
A taxpayer who realizes a loss on the exchange of like-kind property can elect to recognize the loss.
Answer the following statement true (T) or false (F)