Nod corp. (a u. s.-based company) sold parts to a hong kong customer on december 15 with payment of 100,000 hong kong dollars to be received in thirty days on january 15. the following exchange rates apply: spot forward rate 1/1512/15 $0.15 $0.1612/31 $0.16 $0.171/15 $0.17 $0.18assuming no forward contract was entered into, how much foreign exchange gain or loss should nod report on its december 31 income statement with regard to this transaction? (for purposes of this exercise, use a present value factor of 1.)a) no gain or lossb) $1,000 lossc) $3,000 lossd) $1,000 gaine) $3,000 gain

Tara incorporates her sole proprietorship, transferring it to newly formed black corporation. the assets transferred have an adjusted basis of $240,000 and a fair market value of $300,000. also transferred was $10,000 in liabilities, $1,000 of which was personal and the balance of $9,000 being business related. in return for these transfers, tara receives all of the stock in black corporation. a. black corporation has a basis of $241,000 in the property. b. black corporation has a basis of $240,000 in the property. c. tara’s basis in the black corporation stock is $241,000. d. tara’s basis in the black corporation stock is $249,000. e. none of the above.

Acompany factory is considered which type of resource a. land b. physical capital c. labor d. human capital

Melissa is a very generous single woman. before this year, she had given over $11,400,000 in taxable gifts over the years and has completely exhausted her applicable credit amount. in the current year, melissa gave her daughter riley $100,000 and promptly filed her gift tax return. melissa did not make any other gifts this year. how much gift tax must riley pay the irs because of this transaction?