Acct 341 exam - Study guides, Class notes & Summaries

Types of corporate distributions (trans. of value from C corp. to a S/H)correct answer-One-sided -Two-sided: redemption -Two-sided: liquidation One-sidedcorrect answerNo shares surrendered. Two-sided: Redemptioncorrect answerSome shares surrendered. Two-sided: Liquidationcorrect answerAll shares surrendered. Amount of distribution that isn't a dividend and is in excess of A/B should generally be treated as acorrect answerGain from the sales or exchange of property. Amount distr...

Breanna Morrow Professor Hollies Mercy College- Accounting Program ACCT 341- Exam #1 Part I- True/False Questions (20 points). 1. The United States Federal government has a provision in the Constitution which precludes deficit spending. a. True b. False 2. Longer class lives for depreciable property and the required use of straight- line method of depreciation would likely dampen the tax incentive for purchasing capital assets. a. True b. False 3. The favorable treatment of resea...

Liberty University ACCT 370 Exam 4 Complete solution Liberty University ACCT 370 Exam 4 Complete solution 100% satisfied: solutions 1. Condensed financial data are presented below for the Phoenix Corporation: 2. 3. 2019 4. 5. 2018 6. Accounts receivabl e 8. 267,500 9. 10.11.$ 12.230,00 0 13. 14.Inventory 15. 16.312,500 17. 18.19. 20.257,50 0 21. 22.Total current assets 23. 24.670,000 25. 26.27. 28.565,00 0 29. 30.Intangibl e assets 31. 32.50,000 33. 34.35. 36.60,0003...