Individual shareholders would prefer to have a gain on a corporate reorganization treated as a capital gain rather than as a dividend, because they can reduce the amount taxable by their basis in the stock involved.
Answer the following statement true (T) or false (F)
True
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Companies emphasizing pollution prevention have responded with ________
A) superficial green marketing activities B) internal beyond greening programs C) external green marketing activities D) external beyond greening activities E) internal green marketing programs
Which of the following is true of products in the introduction stage of their life cycle?
a. Their prices will rise dramatically as they move into the specialty goods category. b. They experience price increases that are cost initiated. c. Their prices are usually set high. d. They experience an elastic demand in the core of the market.
Superficial similarities exist when the underlying mechanisms of the technology resemble, or match, the underlying mechanisms of the market.
Answer the following statement true (T) or false (F)
Colorful Cat Company uses the direct method to prepare its statement of cash flows
Refer to the following financial statement information for the year ending December 31, 2017: Colorful Cat Company Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 Increase (Decrease) Cash $33,000 $13,000 $20,000 Accounts Receivable 29,000 36,000 (7,000 ) Merchandise Inventory 56,000 29,000 27,000 Plant and Equipment, net 126,000 92,000 34,000 Total Assets $244,000 $170,000 $74,000 Accounts Payable $9,000 $13,000 $(4,000 ) Accrued Liabilities 7,000 3,000 4,000 Long-term Notes Payable 70,000 79,000 (9,000 ) Total Liabilities $86,000 $95,000 $(9,000 ) Common Stock $55,000 $3,000 $52,000 Retained Earnings 115,000 78,000 37,000 Treasury Stock (12,000 ) (6,000 ) (6,000 ) Total Stockholders' Equity $158,000 $75,000 $83,000 Total Liabilities and Stockholders' Equity $244,000 $170,000 $74,000 Colorful Cat Company Income Statement Year Ended December 31, 2017 Sales Revenue $291,300 Interest Revenue 1,000 Gain on Sale of Plant Assets 6,000 Total Revenues and Gains $298,300 Cost of Goods Sold 145,000 Salaries and Wages Expense 49,000 Depreciation Expense-Plant Assets 16,000 Other Operating Expense 25,000 Interest Expense 3,500 Income Tax Expense 7,800 Total Expenses 246,300 Net Income $52,000 â€Æ' Colorful Cat Company Statement of Retained Earnings Year Ended December 31, 2017 Retained Earnings, January 1, 2017 $78,000 Add: Net income 52,000 Less: Dividends 15,000 Retained Earnings, December 31, 2017 $115,000 Prepare the operating activities section of the statement of cash flows, using the direct method. What will be an ideal response