Vogel, inc., an s corporation for five years, distributes a tract of land held as an investment to jamari, its majority shareholder. the land was purchased for $45,000 ten years ago and is currently worth $120,000.

a. as a result of the distribution, what is vogel’s recognized capital gain? how much is reported as a distribution to shareholders?
b. what is the net effect of the distribution on vogel’s aaa?
c. assume instead that the land had been purchased for $120,000 and was currently worth $45,000.
how much would vogel recognize as a loss? what would be the net effect on vogel’s aaa? what would be jamari’s basis in the land?

How did the contribution of the goods producing sector to gdp growth change between 2010 and 2011 a. it fell by 0.3%. b. it fell by 2.3%. c. it rose by 2.3%. d. it rose by 0.6%. the answer is b

Which of the following is the term for something that you can't live without 1. need 2. want 3. good 4. service

Analyzing operational changes operating results for department b of delta company during 2016 are as follows: sales $540,000 cost of goods sold 378,000 gross profit 162,000 direct expenses 120,000 common expenses 66,000 total expenses 186,000 net loss $(24,000) suppose that department b could increase physical volume of product sold by 10% if it spent an additional $18,000 on advertising while leaving selling prices unchanged. what effect would this have on the department's net income or net loss? (ignore income tax in your calculations.) use a negative sign to indicate a net loss answer; otherwise do not use negative signs with your answers. sales $answer cost of goods sold answer gross profit answer direct expenses answer common expenses answer total expenses answer net income (loss) $answer