Rock corporation acquires all of the assets of stone corporation using only its voting stock. stone corporation distributes the rock stock to its shareholders pursuant to its liquidation. after the acquisition, stone corporation's shareholders own 20% of the rock stock (by voting power and value). the transaction is classified as a:

Computing depreciation, net book value, and gain or loss on asset sale lynch company owns and operates a delivery van that originally cost $46,400. lynch has recorded straight-line depreciation on the van for four years, calculated assuming a $5,000 expected salvage value at the end of its estimated six-year useful life. depreciation was last recorded at the end of the fourth year, at which time lynch disposes of this van. compute the net bookvalue of the van on the disposal date.

In the rbv are defined as the tangible and intangible assets that a firm controls that it can use to conceive and implement its strategies. answers: management policies

Sam and diane are completing their federal income taxes for the year and have identified the amounts listed here. how much can they rightfully deduct? • agi: $80,000 • medical and dental expenses: $9,000 • state income taxes: $3,500 • mortgage interest: $9,500 • charitable contributions: $1,000.