Five years ago, Bailey purchased 200 shares of Circus Clowns, Inc. for $4,000. Bailey recently gifted those shares of stock to his son Barnum. The value of the 200 shares of stock on the date of the gift was $2,000. Which of the following statements is correct? a. If Barnum subsequently sells the shares of Circus Clowns, Inc. for $4,750, the basis used to calculate his gain or loss will be $4,000.b. If Barnum subsequently sells the shares of Circus Clowns, Inc. for $4,750, the basis used to calculate his gain or loss will be $1,000.c. If Barnum subsequently sells the shares of Circus Clowns, Inc. for $1,600, the basis used to calculate his gain or loss will be $4,000.d. If Barnum subsequently sells the shares of Circus Clowns, Inc. for $1,600, he will not have any gain or loss.

Walmart’s scm system walmart is famous for its low prices, and you may have experienced its low prices first-hand. at least, you have probably seen its motto, “always low prices— always.” one of the biggest reasons walmart is able to sell at prices lower than almost everyone else is that it has a superefficient supply chain. its it-enabled supply chain management system is the envy of the industry because it drives excess time and unnecessary costs out of the supply chain. so, because walmart can buy low, it sells low. as a matter of fact, if your company wants to sell items to walmart for it to sell in its stores, you will have to do business with it electronically. if your company can’t do that, walmart won’t buy anything from you. log on to walmart’s web site (), search for supplier information, and find out what walmart’s requirements are for its suppliers to do business with it electronically. prepare a brief summary of its requirements for presentation in clas

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c. prepaidrent. onseptember1ofthecurrentyear, thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Your uncle borrows $53,000 from the bank at 11 percent interest over the nine-year life of the loan. use appendix d for an approximate answer but calculate your final answer using the formula and financial calculator methods. what equal annual payments must be made to discharge the loan, plus pay the bank its required rate of interest