Krol Corporation distributed marketable securities in redemption of its stock in a complete liquidation. On the date of distribution, these securities had a basis of $100,000 and a fair market value of $150,000. What gain does Krol have as a result of the distribution?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Krol Corporation distributed marketable securities in redemption of its stock in a complete liquidation. On the date of distribution, these ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Maysonet Corporation uses a job-order costing system and has provided the following partially completed T-account summary for the past year. Work in ProcessBal. 1/1 18,000 CreditsDebits 520,000 Bal.
Answers (1)
A commercial bank buys a $50,000 government security from a securities dealer. the bank pays the dealer by increasing the dealer's checkable deposit balance by $50,000. the money supply has:
Answers (1)
Amanda wants to start a business to sell handmade jewelry. She is very competent at making the jewelry and teaching others to make it, and she has saved a reasonable amount of money to start the business.
Answers (2)
Describe a transaction that would:a. Increase both an asset and capital stock. b. Increase both an asset and a liability. c. Increase one asset and decrease another asset. d. Decrease both a liability and an asset. e.
Answers (1)
Calculate the future value of an investment of $2300, after 7 months, earning 6.6% apr, compounded monthly, by compounding manually. g
Answers (1)
New Questions in Business
A person driving a car has the duty to exercise what standard of care?
Answers (1)
Organizations face three kinds of specific buying situations. they are new buy, straight rebuy, and modified rebuy. collectively, these situations are called:
Answers (1)
Widmer Company had gross wages of $310,000 during the week ended June 17. The amount of wages subject to social security tax was $310,000, while the amount of wages subject to federal and state unemployment taxes was $35,000.
Answers (1)
In the context of management functions, which of the following is true of planning? a) It involves hiring and leading workers. b) It is the last function of management. c) It is one of the best ways to improve performance.
Answers (1)
On January 2, 2020, Pearl Company sells production equipment to Fargo Inc. for $52,000. Pearl includes a 2-year assurance warranty service with the sale of all its equipment. The customer receives and pays for the equipment on January 2, 2020.
Answers (1)