ch18
25 Pages

ch18

Course: ACCOUNTING 401, Spring 2012

School: Regis

Word Count: 7936

Rating:

Document Preview

ch18 Student: ___________________________________________________________________________ 1. The "double taxation" of corporate income refers to the fact that corporate income is taxed at both the entity-level and the shareholder-level. True False 2. A distribution from a corporation to a shareholder will always be treated as a dividend for tax purposes. True False 3. A corporation's "earnings...

Unformatted Document Excerpt
Coursehero >> Colorado >> Regis >> ACCOUNTING 401

Course Hero has millions of student submitted documents similar to the one
below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

___________________________________________________________________________ 1. The ch18 Student: "double taxation" of corporate income refers to the fact that corporate income is taxed at both the entity-level and the shareholder-level. True False 2. A distribution from a corporation to a shareholder will always be treated as a dividend for tax purposes. True False 3. A corporation's "earnings and profits" account is equal to the company's "retained earnings" account on its balance sheet. True False 4. A distribution from a corporation to a shareholder will only be treated as a dividend for tax purposes if the distribution is paid out of current or accumulated earnings and profits. True False 5. Green Corporation has current earnings and profits of $100,000 and negative accumulated earnings and profits of $(200,000). A $50,000 distribution from Green to its sole shareholder will not be treated as a dividend because total earnings and profits is a negative $100,000. True False 6. Green Corporation has negative current earnings and profits of $100,000 and positive accumulated earnings and profits of $200,000. A $50,000 distribution from Green to its sole shareholder will be treated as a dividend because total earnings and profits is a positive $100,000. True False 7. The term "earnings and profits" is well-defined in the Internal Revenue Code. True False 8. Only income and deductions included on a corporation's income tax return are included in the computation of current earnings and profits. True False 9. Cedar Corporation incurs a net capital loss of $20,000 in 20X3 that cannot be deducted on its income tax return but must be carried forward to 20X4. Cedar will deduct the net capital loss in the computation of current earnings and profits for 20X3. True False 10. Terrapin Corporation incurs federal income taxes of $250,000 in 20X3. Terrapin deducts the federal income taxes in computing its current earnings and profits for 20X3. True False 11. Evergreen Corporation distributes land with a fair market value of $200,000 to its sole shareholder. Evergreen's tax basis in the land is $50,000. Assuming sufficient earnings and profits, the amount of dividend reported by the shareholder is $200,000. True False 12. Evergreen Corporation distributes land with a fair market value of $200,000 to its sole shareholder. Evergreen's tax basis in the land is $50,000. Evergreen will report a gain of $150,000 on the distribution regardless of whether its earnings and profits is positive or negative. True False 13. Evergreen Corporation distributes land with a fair market value of $50,000 to its sole shareholder. Evergreen's tax basis in the land is $200,000. Evergreen will report a loss of $150,000 on the distribution regardless of whether its earnings and profits is positive or negative. True False 14. Compensation recharacterized by the IRS as a dividend because it was considered "unreasonable" will affect only the income tax liability of the corporation paying the compensation. True False 15. Unreasonable compensation issues are more likely to arise in audits of privately-held corporations rather than publicly-traded corporations. True False 16. Stock dividends are always tax-free to the recipient. True False 17. The recipient of a tax-free stock dividend will have a zero tax basis in the stock. True False 18. The recipient of a taxable stock dividend will have a tax basis in the stock equal to the fair market value of the stock received. True False 19. A stock redemption is always treated as a sale or exchange for tax purposes. True False 20. Tammy owns 60 percent of the stock of Huron Corporation. Unrelated individuals own the remaining 40 percent. For a stock redemption to be treated as an exchange under the "substantially disproportionate" rule, Tammy must reduce her stock ownership to below 48 percent. True False 21. Brothers and sisters are considered "family" under the stock attribution rules that apply to stock redemptions. True False 22. Diego owns 30 percent of Azul Corporation. Azul Corporation owns 50 percent of Verde Corporation. Under the attribution rules applying to stock redemptions, Diego is treated as owning 15 percent of Verde Corporation. True False 23. The "family attribution" rules are automatically waived in a complete redemption of a shareholder's stock. True False 24. Battle Corporation redeems 20 percent of its stock for $100,000 in a stock redemption that is treated as an exchange by the shareholders. Battle's E&P at the date of the redemption is $200,000. Battle will reduce its earnings and profits by $100,000 as a result of the redemption. True False 25. A distribution in partial liquidation of a corporation is always treated as a sale or exchange by an individual shareholder. True False 26. Which statement best describes the concept of the "double taxation" of corporation income? A. Corporate income is subject to two levels of taxation: the regular tax and the alternative minimum tax. B Corporate income is taxed twice at the corporate level: first when earned and then a second time if . appreciated property is distributed to a shareholder. C Corporate income is taxed when earned by a C corporation and then a second time at the shareholder . level when distributed as a dividend. D. Corporate income is subject to two levels of taxation: at the federal level and a second time at the state level. 27. Which of the following forms of earnings distributions would not be subject to double taxation at the corporate and shareholder level? A. Dividend B. Stock redemption C. Partial liquidation D. Compensation paid to a shareholder/employee of the corporation 28. Which of the following statements best describes the priority of the tax treatment of a distribution from a corporation to a shareholder? A The distribution is a dividend to the extent of the corporation's earnings and profits, then a return of . capital, and finally gain from sale of stock. B The distribution is a return of capital, then a dividend to the extent of the corporation's earnings and . profits, and finally gain from sale of stock. C The distribution is a return of capital, then gain from sale of stock, and finally a dividend to the extent . of the corporation's earnings and profits. DThe shareholder can elect to treat the distribution as either a dividend to the extent of the corporation's . earnings and profits or a return of capital, followed by gain from sale of stock. 29. Which of the following statements best describes earnings and profits? A. Earnings and profits is another name for a corporation's retained earnings on its balance sheet. B.Earnings and profits is a precisely defined tax term in the Internal Revenue Code and represents a corporation's economic income. C Earnings and profits is a partially defined tax concept in the Internal Revenue Code and represents a . corporation's economic income. D. Earnings and profits is a conceptual tax concept with no definition in the Internal Revenue Code. 30. Which of the following statements best describes the role of current and accumulated earnings and profits in determining if a distribution is a dividend? A A distribution will only be a dividend if total earnings and profits (current plus accumulated) is positive . at the time of the distribution. B. A distribution can never be a dividend if current earnings and profits is negative. C A distribution will be a dividend if current earnings and profits for the year is positive, even if . accumulated earnings and profits is negative. D A distribution will never be a dividend if current earnings and profits for the year is negative, even if . accumulated earnings and profits is positive. 31. A calendar-year corporation has positive current E&P of $500 and accumulated negative E&P of $1,200. The corporation makes a $400 distribution to its sole shareholder. Which of the following statements is true? A. The distribution will not be a dividend because total earnings and profits is a negative $700. B. The distribution may be a dividend, depending on whether total earnings and profits at the date of the distribution is positive. C. The distribution will be a dividend because current earnings and profits is positive and exceeds the distribution. D. A distribution from a corporation to a shareholder is always a dividend, regardless of the balance in earnings and profits. 32. A calendar-year corporation has negative current E&P of $500 and accumulated positive E&P of $1,000. The corporation makes a $600 distribution to its sole shareholder. Which of the following statements is true? A. $500 of the distribution will be a dividend because total earnings and profits is $500. B. $0 of the distribution will be a dividend because current earnings and profits is negative. C. $600 of the distribution will be a dividend because accumulated earnings and profits is $1,000. D Up to $600 of the distribution could be a dividend depending on the balance in accumulated earnings . and profits on the date of the distribution. 33. Which of these items is not an adjustment to taxable income or net loss to compute current E&P? A. Dividends received deduction B. Tax-exempt income C. Net capital loss carryforward from the prior year tax return D. Refund of prior year taxes for an accrual method taxpayer 34. Grand River Corporation reported taxable income of $500,000 in 20X3 and paid federal income taxes of $170,000. Not included in the computation was a disallowed meals and entertainment expense of $2,000, tax exempt income of $1,000, and deferred gain on an installment sale of $25,000. The corporation's current earnings and profits for 20X3 would be: A. $524,000 B. $500,000 C. $354,000 D. $331,000 35. Au Sable Corporation reported taxable income of $800,000 in 20X3 and paid federal income taxes of $272,000. Not included in the computation was a disallowed penalty of $25,000, life insurance proceeds of $100,000, and an income tax refund from 20X2 of $50,000. Au Sable is an accrual basis taxpayer. The corporation's current earnings and profits for 20X3 would be: A. $875,000 B. $653,000 C. $603,000 D. $553,000 36. Oakland Corporation reported a net operating loss of $500,000 in 20X3 and elected to carry the loss forward to 20X4. Not included in the computation was a disallowed meals and entertainment expense of $20,000, tax exempt income of $10,000, and deferred gain on an installment sale of $250,000. The corporation's current earnings and profits for 20X3 would be: A. $(500,000) B. $(720,000) C. $(510,000) D. $(260,000) 37. Packard Corporation reported taxable income of $1,000,000 in 20X3 and paid federal income taxes of $340,000. Included in the computation was a dividends received deduction of $5,000, a net capital loss carryover from 20X2 of $10,000, and gain of $50,000 from an installment sale that took place in 20X1. The corporation's current earnings and profits for 20X3 would be: A. $1,015,000 B. $965,000 C. $675,000 D. $625,000 38. Abbot Corporation reported a net operating loss of $400,000 in 20X3, which the corporation elected to carry forward to 20X4. Included in the computation was regular depreciation of $100,000 (E&P depreciation is $40,000), first year expensing under 179 of $50,000, and a dividends received deduction of $10,000. The corporation's current earnings and profits for 20X3 would be: A. $(290,000) B. $(330,000) C. $(400,000) D. $(490,000) 39. Madison Corporation reported taxable income of $400,000 in 20X3 and accrued federal income taxes of $136,000. Included in the computation was regular depreciation of $200,000 (E&P depreciation is $60,000), first year expensing under 179 of $100,000, and a net capital loss carryover of $20,000 from 20X2. The corporation's current earnings and profits for 20X3 would be: A. $504,000 B. $484,000 C. $460,000 D. $424,000 40. Greenwich Corporation reported a net operating loss of $800,000 in 20X3, which the corporation elected to carry forward to 20X4. Not included in the computation was a disallowed fine of $50,000, life insurance proceeds of $500,000, and a current year charitable contribution of $10,000 that will be carried forward to 20X4. The corporation's current earnings and profits for 20X3 would be: A. $(250,000) B. $(260,000) C. $(300,000) D. $(360,000) 41. Bruin Company reports current E&P of $200,000 in 20X3 and accumulated E&P at the beginning of the year of $100,000. Bruin distributed $400,000 to its sole shareholder on January 1, 20X3. How much of the distribution is treated as a dividend in 20X3? A. $400,000 B. $300,000 C. $200,000 D. $100,000 42. Aztec Company reports current E&P of $200,000 in 20X3 and accumulated E&P at the beginning of the year of negative $100,000. Aztec distributed $300,000 to its sole shareholder on January 1, 20X3. How much of the distribution is treated as a dividend in 20X3? A. $300,000 B. $200,000 C. $100,000 D. $0 43. Inca Company reports current E&P of negative $100,000 in 20X3 and accumulated E&P at the beginning of the year of $200,000. Inca distributed $300,000 to its sole shareholder on January 1, 20X3. How much of the distribution is treated as a dividend in 20X3? A. $0 B. $100,000 C. $200,000 D. $300,000 44. Wildcat Corporation reports current E&P of negative $200,000 in 20X3 and accumulated E&P at the beginning of the year of $100,000. Wildcat distributed $300,000 to its sole shareholder on December 31, 20X3. How much of the distribution is treated as a dividend in 20X3? A. $0 B. $100,000 C. $200,000 D. $300,000 45. Beaver Company reports current E&P of $100,000 in 20X3 and accumulated E&P at the beginning of the year of $200,000. Beaver distributed $400,000 to its sole shareholder on January 1, 20X3. The shareholder's tax basis in her stock in Beaver is $200,000. How is the distribution treated by the shareholder in 20X3? A. $400,000 dividend B. $100,000 dividend, $200,000 tax-free return of basis, and $100,000 capital gain C. $200,000 dividend and $200,000 tax-free return of basis D. $300,000 dividend and $100,000 tax-free return of basis 46. Longhorn Company reports current E&P of $100,000 in 20X3 and accumulated E&P at the beginning of the year of negative $200,000. Longhorn distributed $300,000 to its sole shareholder on January 1, 20X3. The shareholder's tax basis in his stock in Longhorn is $100,000. How is the distribution treated by the shareholder in 20X3? A. $300,000 dividend B. $100,000 dividend, $100,000 tax-free return of basis, and $100,000 capital gain C. $100,000 dividend and $200,000 tax-free return of basis D. $0 dividend, $100,000 tax-free return of basis, and $200,000 capital gain 47. Husker Corporation reports current E&P of negative $200,000 in 20X3 and accumulated E&P at the beginning of the year of $300,000. Husker distributed $200,000 to its sole shareholder on December 31, 20X3. The shareholder's tax basis in her stock in Husker is $50,000. How is the distribution treated by the shareholder in 20X3? A. $200,000 dividend B. $100,000 dividend, $50,000 tax-free return of basis, and $50,000 capital gain C. $100,000 dividend and $100,000 tax-free return of basis D. $0 dividend, $50,000 tax-free return of basis, and $150,000 capital gain 48. Tar Heel Corporation had current and accumulated E&P of $500,000 at December 31, 20X3. On December 31, the company made a distribution of land to its sole shareholder, William Roy. The land's fair market value was $100,000 and its tax and E&P basis to Tar Heel was $25,000. William assumed a mortgage attached to the land of $10,000. The tax consequences of the distribution to William in 20X3 would be: A. $100,000 dividend and a tax basis in the land of $100,000 B. $100,000 dividend and a tax basis in the land of $90,000 C. Dividend of $90,000 and a tax basis in the land of $100,000 D. Dividend of $90,000 and a tax basis in the land of $90,000 49. Cavalier Corporation had current and accumulated E&P of $500,000 at December 31, 20X3. On December 31, the company made a distribution of land to its sole shareholder, Tom Jefferson. The land's fair market value was $200,000 and its tax and E&P basis to Cavalier was $50,000. The tax consequences of the distribution to Cavalier in 20X3 would be: A. No gain recognized and a reduction in E&P of $200,000 B. $150,000 gain recognized and a reduction in E&P of $200,000 C. $150,000 gain recognized and a reduction in E&P of $50,000 D. No gain recognized and a reduction in E&P of $50,000 50. Montclair Corporation had current and accumulated E&P of $500,000 at December 31, 20X3. On December 31, the company made a distribution of land to its sole shareholder, Molly Pitcher. The land's fair market value was $200,000 and its tax and E&P basis to Montclair was $50,000. Molly assumed a liability of $25,000 attached to the land. The tax consequences of the distribution to Montclair in 20X3 would be: A. No gain recognized and a reduction in E&P of $200,000 B. $150,000 gain recognized and a reduction in E&P of $200,000 C. $150,000 gain recognized and a reduction in E&P of $175,000 D. No gain recognized and a reduction in E&P of $175,000 51. Catamount Company had current and accumulated E&P of $500,000 at December 31, 20X3. On December 31, the company made a distribution of land to its sole shareholder, Caroline West. The land's fair market value was $200,000 and its tax and E&P basis to Catamount was $250,000. The tax consequences of the distribution to Catamount in 20X3 would be: A. No loss recognized and a reduction in E&P of $250,000 B. $50,000 loss recognized and a reduction in E&P of $250,000 C. $50,000 loss recognized and a reduction in E&P of $150,000 D. No loss recognized and a reduction in E&P of $200,000 52. Paladin Corporation had current and accumulated E&P of $500,000 at December 31, 20X3. On December 31, the company made a distribution of land to its sole shareholder, Maria Mendez. The land's fair market value was $200,000 and its tax and E&P basis to Paladin was $250,000. Maria assumed a liability of $25,000 attached to the land. The tax consequences of the distribution to Paladin in 20X3 would be: A. No loss recognized and a reduction in E&P of $200,000 B. $50,000 loss recognized and a reduction in E&P of $200,000 C. $50,000 loss recognized and a reduction in E&P of $225,000 D. No loss recognized and a reduction in E&P of $225,000 53. Which of the following payments could be treated as a constructive dividend by the IRS? A. End-of-year bonus payment to a shareholder/employee B. Rent paid to a shareholder/lessor C. Interest paid to a shareholder/creditor D. All of the above payments could be treated as a constructive dividend by the IRS 54. Which of the following factors would not be considered in determining if compensation paid to a shareholder/employee is reasonable? A. The individual's duties and responsibilities B. What individuals performing in comparable capacities at other companies are paid C. Whether the corporation has a formal compensation policy D. The individual's marginal income tax rate 55. Which of the following statements is not considered a potential answer to the dividend puzzle (why do corporations pay dividends)? A. Paying dividends avoids the double taxation of corporate income B Demanding that managers pay out dividends restricts their investment activities and forces them to . adopt more efficient investment policies C. Paying dividends is a source of investor goodwill D. Dividends are a signal to the capital markets about the health of a corporation's activities 56. Which of the following stock dividends would be tax-free to the shareholder? A. A 2-for-1 stock split to all holders of common stock B. A stock dividend where the shareholder could choose between cash and stock C. A stock dividend to all holders of preferred stock D. Both A and C are tax-free to the shareholder 57. El Toro Corporation declared a common stock dividend to all shareholders of record on June 30, 20X3. Shareholders will receive 1 share of El Toro stock for each 2 shares of stock they already own. Raoul owns 300 shares of El Toro stock with a tax basis of $60 per share. The fair market value of the El Toro stock was $100 per share on June 30, 20X3. What are the tax consequences of the stock dividend to Raoul? A. $0 dividend income and a tax basis in the new stock of $100 per share B. $0 dividend income and a tax basis in the new stock of $60 per share C. $0 dividend income and a tax basis in the new stock of $20 per share D. $15,000 dividend and a tax basis in the new stock of $100 per share 58. Wonder Corporation declared a common stock dividend to all shareholders of record on September 30, 20X3. Shareholders will receive three shares of Wonder stock for each five shares of stock they already own. Diana owns 300 shares of Wonder stock with a tax basis of $90 per share (a total basis of $27,000). The fair market value of the Wonder stock was $180 per share on September 30, 20X3. What are the tax consequences of the stock dividend to Diana? A. $0 dividend income and a tax basis in the new stock of $180 per share B. $0 dividend income and a tax basis in the new stock of $67.50 per share C. $0 dividend income and a tax basis in the new stock of $56.25 per share D. $10,800 dividend and a tax basis in the new stock of $180 per share 59. Which of the following individuals is not considered "family" for purposes of applying the stock attribution rules to a stock redemption? A. Parents B. Grandchildren C. Grandparents D. Spouse 60. Which of the following statements is true? A. All stock redemptions are treated as exchanges for tax purposes. B. A stock redemption not treated as an exchange will automatically be treated as a taxable dividend. C. All stock redemptions are treated as dividends if received by an individual. D A stock redemption is treated as an exchange only if it meets one of three stock ownership tests . described in the Internal Revenue Code. 61. Sam owns 70 percent of the stock of Club Corporation. Unrelated individuals own the remaining 30 percent. For a stock redemption of Sam's stock to be treated as an exchange under the "substantially disproportionate" test, what percentage of Club stock must Sam own after the redemption? A. Any percentage less than 70 percent B. Any percentage less than 56 percent C. Any percentage less than 50 percent D. All stock redemptions involving individuals are treated as exchanges 62. Sara owns 60 percent of the stock of Lea Corporation. Unrelated individuals own the remaining 40 percent. For a stock redemption of Sara's stock to be treated as an exchange under the "substantially disproportionate" test, what percentage of Lea stock must Sara own after the redemption? A. Any percentage less than 60 percent B. Any percentage less than 50 percent C. Any percentage less than 48 percent D. All stock redemptions involving individuals are treated as exchanges 63. Comet Company is owned equally by Pat and his sister Pam, each of whom hold 100 shares in the company. Pam wants to reduce her ownership in the company, and it was decided that the company will redeem 50 of her shares for $1,000 per share on December 31, 20X3. Pam's income tax basis in each share is $500. Comet has total E&P of $250,000. What are the tax consequences to Pam as a result of the stock redemption? A. $25,000 capital gain and a tax basis in each of her remaining shares of $500. B. $25,000 capital gain and a tax basis in each of her remaining shares of $100. C. $50,000 dividend and a tax basis in each of her remaining shares of $100. D. $50,000 dividend and a tax basis in each of her remaining shares of $50. 64. Comet Company is owned equally by Pat and his sister Pam, each of whom hold 100 shares in the company. Comet redeems 50 of Pam's shares on December 31, 20X3, for $1,000 per share in a transaction that Pam treats as an exchange for tax purposes. Comet has total E&P of $250,000 on December 31, 20X3. What are the tax consequences to Comet as a result of the stock redemption? A. No reduction in E&P as a result of the exchange. B. A reduction of $50,000 in E&P as a result of the exchange. C. A reduction of $62,500 in E&P as a result of the exchange. D. A reduction of $125,000 in E&P as a result of the exchange. 65. Comet Company is owned equally by Pat and his sister Pam, each of whom hold 100 shares in the company. Comet redeems 50 of Pam's shares on December 31, 20X3, for $1,000 per share in a transaction that Pam treats as an exchange for tax purposes. Comet has total E&P of $160,000 on December 31, 20X3. What are the tax consequences to Comet as a result of the stock redemption? A. No reduction in E&P as a result of the exchange. B. A reduction of $50,000 in E&P as a result of the exchange. C. A reduction of $40,000 in E&P as a result of the exchange. D. A reduction of $80,000 in E&P as a result of the exchange. 66. Viking Corporation is owned equally by Sven and his wife Olga, each of whom hold 100 shares in the company. Viking redeemed 75 shares of Sven's stock in the company on December 31, 20X3. Viking paid Sven $2,000 per share. His income tax basis in each share is $1,000. Viking has total E&P of $500,000. What are the tax consequences to Sven as a result of the stock redemption? A. $75,000 capital gain and a tax basis in each of his remaining shares of $1,000. B. $75,000 capital gain and a tax basis in each of his remaining shares of $2,000. C. $150,000 dividend and a tax basis in each of his remaining shares of $1,000. D. $150,000 dividend and a tax basis in each of his remaining shares of $4,000. 67. Viking Corporation is owned equally by Sven and his wife Olga, each of whom hold 100 shares in the company. Viking redeemed 75 shares of Sven's stock for $2,000 per share on December 31, 20X3. Viking has total E&P $500,000. of What are the tax consequences to Viking as a result of the stock redemption? A. No reduction in E&P as a result of the exchange. B. A reduction of $150,000 in E&P as a result of the exchange. C. A reduction of $187,500 in E&P as a result of the exchange. D. A reduction of $375,000 in E&P as a result of the exchange. 68. Corona Company is owned equally by Maria, her sister Carlita, her mother Gabriella, and her grandmother Olivia, each of whom hold 100 shares in the company. Under the family attribution rules, how many shares of Corona stock is Maria deemed to own? A. 100 B. 200 C. 300 D. 400 69. Panda Company is owned equally by Min, her husband Bin, her sister Xiao, and her grandson, Han, each of whom hold 100 shares in the company. Under the family attribution rules, how many shares of Panda stock is Min deemed to own? A. 100 B. 200 C. 300 D. 400 70. Beltway Company is owned equally by George, his brother Thomas, and a partnership owned 50 percent by George and his father Abe. Each of the three shareholders holds 100 shares in the company. Under the 318 stock attribution rules, how many shares of Beltway stock is George deemed to own? A. 100 B. 150 C. 200 D. 300 71. Lansing Company is owned equally by Jennifer, her husband Dan, and DeWitt Corporation, which is owned 50 percent by Jennifer and her sister Jane. Each of the three shareholders holds 100 shares in the company. Under the 318 stock attribution rules, how many shares of Lansing stock is Jennifer deemed to own? A. 100 B. 200 C. 250 D. 300 72. Lansing Company is owned equally by Jennifer, her husband Dan, and DeWitt Corporation, which is owned 50 percent by Jennifer and her sister Jane. Each of the three shareholders holds 100 shares in the company. Under the 318 stock attribution rules, how many shares of Lansing stock is DeWitt Corporation deemed to own? A. 100 B. 200 C. 250 D. 300 73. Tammy owns 100 shares in Star Struck Corporation. The other 100 shares are owned by her husband Tommy. Which of the following statements is true? A A stock redemption that completely terminates Tammy's direct interest in a corporation will be treated . as an exchange for tax purposes. BA stock redemption that completely terminates Tammy's direct interest in a corporation will be treated . as a dividend for tax purposes if Tammy waives the family attribution rules and files a "triple i" agreement with the IRS. CA stock redemption that completely terminates Tammy's direct interest in a corporation will be treated . as an exchange if Tammy waives the family attribution rules and files a "triple i" agreement with the IRS. DA stock redemption that completely terminates Tammy's direct interest in a corporation will be treated . as a dividend if Tammy waives the family attribution rules and files a "triple i" agreement with the IRS. 74. General Inertia Corporation made a distribution of $50,000 to Henry Tiara in partial liquidation of the company on December 31, 20X3. Henry owns 500 shares (50%) of General Inertia. The distribution was in exchange for 250 shares of Henry's stock in the company. After the partial liquidation, Henry continued to own 50% of the remaining stock in General Inertia. At the time of the distribution, the shares had a fair market value of $200 per share. Henry's income tax basis in the shares was $100 per share. General Inertia had total E&P of $800,000 at the time of the distribution. What are the tax consequences to Henry as a result of the transaction? A. Henry has dividend income of $50,000 and a tax basis in his remaining shares of $100 per share. B. Henry has capital gain of $25,000 and a tax basis in his remaining shares of $100 per share. C. Henry has dividend income of $50,000 and a tax basis in his remaining shares of $200 per share. D. Henry has capital gain of $25,000 and a tax basis in his remaining shares of $200 per share. 75. General Inertia Corporation made a pro rata distribution of $50,000 to Tiara, Inc. in partial liquidation of the company on December 31, 20X3. Tiara, Inc. owns 500 shares (50%) of General Inertia. The distribution was in exchange for 250 shares of Tiara's stock in the company. After the partial liquidation, Tiara continued to own 50% of the remaining stock in General Inertia. At the time of the distribution, the shares had a fair market value of $200 per share. Tiara's income tax basis in the shares was $100 per share. General Inertia had total E&P of $800,000 at the time of the distribution. What amount of dividend or capital gain does Tiara recognize as a result of the transaction? A. Tiara does not recognize any dividend income or capital gain. B. Tiara recognizes capital gain of $50,000. C. Tiara recognizes dividend income of $50,000. D. Tiara recognizes capital gain of $25,000. 76. Superior Corporation reported taxable income of $1,000,000 in 20X3. Superior paid a dividend of $100,000 to its sole shareholder, Mary Yooper. Superior Corporation is subject to a flat rate tax of 34%. The dividend meets the requirements to be a "qualified dividend" and Mary is subject to a tax rate of 15% on the dividend. What is the total federal income tax imposed on the corporate income earned by Superior and distributed to Mary as a dividend? 77. Erie Corporation reported taxable income of $2,200,000 in 20X3 before any deduction for any payment to its sole shareholder and employee, LaBron Cleveland. Erie paid a bonus of $200,000 to LaBron at year-end. Erie Corporation is subject to a flat-rate tax of 34%. The bonus meets the requirements to be "reasonable" and is therefore deductible by Erie. LaBron is subject to a marginal tax rate of 35% on the bonus. What is the total federal income tax imposed on the corporate income earned by Erie and paid to LaBron as a bonus? 78. St. Clair Company reports positive current E&P of $500,000 in 20X3 and positive accumulated E&P at the beginning of the year of $400,000. St. Clair Company distributed $600,000 to its sole shareholder, Danielle Brush on December 31, 20X3. Danielle's tax basis in her St. Clair stock is $120,000. How much of the $600,000 distribution is treated as a dividend to Danielle and what is her basis in St. Clair stock after the distribution? 79. Austin Company reports positive current E&P of $200,000 and negative accumulated E&P of $300,000. Austin distributed $250,000 to its sole shareholder, Betsy Bevo, on December 31, 20X3. Betsy' tax basis in her stock is $125,000. How much of the $250,000 distribution is treated as a dividend to Betsy and what is her tax basis in Austin stock after the distribution? 80. Elk Company reports negative current E&P of $200,000 and positive accumulated E&P of $300,000. Elk distributed $200,000 to its sole shareholder, Barney Rubble, on December 31, 20X3. Barney's tax basis in his Elk stock is $75,000. What is the tax treatment of the distribution to Barney and what is his tax basis in Elk stock after the distribution? 81. Houghton Company reports negative current E&P of $(500,000) and negative accumulated E&P of $(800,000). Houghton distributed $100,000 to its sole shareholder, Blossom Applegate, on December 31, 20X3. Blossom's tax basis in her Houghton stock is $50,000. What is the tax treatment of the distribution to Blossom and what is her tax basis in Houghton stock after the distribution? 82. Loon, Inc. reported taxable income of $600,000 in 20X3 and paid federal income taxes of $202,000. Not included in the company's computation of taxable income is tax-exempt interest of $30,000, disallowed meals and entertainment expenses of $15,000, and disallowed expenses related to the tax-exempt income of $4,000. Loon deducted depreciation of $200,000 on its tax return. Under the alternative (E&P) depreciation method, the deduction would have been $80,000. Compute the company's current E&P for 20X3. 83. Orchard, Inc. reported taxable income of $800,000 in 20X3 and paid federal income taxes of $272,000. Included in the company's computation of taxable income is gain from sale of a depreciable asset of $200,000. The income tax basis of the asset was $50,000. The E&P basis of the asset using the alternative depreciation system was $75,000. Compute the company's current E&P for 20X3. 84. Walloon, Inc. reported taxable income of $1,000,000 in 20X3 and paid federal income taxes of $340,000. The company reported a capital gain from sale of investments of $150,000, which was partially offset by a $40,000 net capital loss carryover from 20X2, resulting in a net capital gain of $110,000 included in taxable income. Compute the company's current E&P for 20X3. 85. Otter Corporation reported taxable income of $400,000 from operations for 20X3. The company paid federal income taxes of $136,000 on this taxable income. During the year, the company made a distribution of land to its sole shareholder, Emmet Jugg. The land's fair market value was $50,000 and its tax and E&P basis to Otter was $30,000. Emmet assumed a mortgage attached to the land of $10,000. Any gain from the distribution will be taxed at 34%. The company had accumulated E&P of $900,000 at the beginning of the year. Compute Otter's total taxable income and federal income tax paid as a result of the distribution (assume a tax rate of 34%). Using your solution, compute Otter's current E&P for 20X3. 86. Ozark Corporation reported taxable income of $500,000 from operations for 20X3. During the year, the company made a distribution of land to its sole shareholder, Marcus Twain. The land's fair market value was $100,000 and its tax and E&P basis to Ozark was $125,000. Marcus assumed a mortgage attached to the land of $25,000. Ozark's tax rate is 34%. The company had accumulated E&P of $850,000 at the beginning of the year. Compute Ozark's total taxable income and federal income tax paid as a result of the distribution. Using your solution, compute Otter's accumulated E&P at January 1, 20X4. 87. Sherburne Corporation reported current earnings and profits for 20X3 of $500,000. During the year, the company made a distribution of land to its sole shareholder, Ted Bozeman. The land's fair market value was $150,000 and its tax and E&P basis to Sherburne was $100,000. Ted assumed a mortgage attached to the land of $25,000. What amount of dividend income does Ted report as a result of the distribution and what is Ted's income tax basis in the land received from Sherburne? 88. Sunapee Corporation reported taxable income of $700,000 from operations for 20X3. During the year, the company made a distribution of land to its sole shareholder, Jean McCarthy. The land's fair market value was $125,000 and its tax and E&P basis to Sunapee was $75,000. Jean assumed a mortgage attached to the land of $25,000. Sunapee's tax rate is 34%. Compute Sunapee's total taxable income and federal income tax paid as a result of the distribution. Using your solution, compute Sunapee's current E&P for 20X3. 89. Tappan Company pays its sole shareholder, Carlita Hill, a salary of $200,000. At the end of each year, the company pays Carlita a "bonus" equal to the difference between the corporation's taxable income for the year (before the bonus) and $75,000. For 20X3, Tappan reported pre-bonus taxable income of $800,000 and paid Carlita a bonus of $725,000. On audit, the IRS determined that individuals working in Carlita's position earned on average $300,000 per year. The company had no formal compensation policy and never paid a dividend. How much of Carlita's compensation (salary plus bonus) might the IRS recharacterize as a dividend? Assuming the IRS recharacterizes $500,000 of Carlita's bonus as a dividend, what additional income tax liability does Tappan Company face? (Ignore payroll taxes) 90. Townsend Corporation declared a 1-for-1 stock split to all common stock shareholders of record on December 31, 20X3. Townsend reported current E&P of $400,000 and accumulated E&P of $1,000,000. The total fair market value of the stock distributed was $500,000. Regina Williams owned 1,000 shares of Townsend common stock with a tax basis of $200 per share ($2,000,000 total). The fair market value of the common stock was $300 per share on December 31, 20X3. What is Regina's income tax basis in the new and existing common stock she owns in Townsend, assuming the distribution is tax-free? 91. Sweetwater Corporation declared a stock dividend to all common stock shareholders of record on December 31, 20X3. Shareholders will receive 1 share of Sweetwater common stock for each 5 shares of common stock they already own. Pierre Dorgan owns 500 shares of Sweetwater common stock with a tax basis of $150 per share. The fair market value of the Sweetwater common stock was $90 per share on December 31. What is Pierre's income tax basis in his new and existing common stock in Sweetwater, assuming the distribution is non-taxable? 92. Buckeye Company is owned equally by James and his brother Terrelle, each of whom own 500 shares in the company. Terrelle wants to reduce his ownership in the company, and it was decided that the company will redeem 200 of his shares for $5,000 per share on December 31, 20X3. Terrelle's income tax basis in each share is $1,000. Buckeye has current E&P of $10,000,000 and accumulated E&P of $20,000,000. What is the amount and character (capital gain or dividend) recognized by Terrelle as a result of the stock redemption? 93. Pine Creek Company is owned equally by Bob and his sister Samantha, each of whom own 1,000 shares in the company. On December 31, 20X3, Pine Creek redeemed 200 of Samantha's shares for $5,000,000 in a transaction treated as an exchange by Samantha. Pine Creek has current E&P of $10,000,000 and accumulated E&P of $30,000,000 (computed without regard to the stock redemption). Assuming Pine Creek did not make any dividend distributions during 20X3, by what amount does the company reduce its E&P as a result of the redemption? 94. Goose Company is owned equally by Val and her sister Eugenia, each of whom own 500 shares in the company. Val wants to reduce her ownership in the company and have the transaction treated as an exchange for tax purposes. Determine the minimum amount of stock that Goose must redeem from Val for her to treat the redemption as being "substantially disproportionate with respect to the shareholder" and receive exchange treatment. 95. Crystal, Inc. is owned equally by John and his wife Arlene, each of whom own 500 shares in the company. Arlene wants to reduce her ownership in the company, and it was decided that the company will redeem 200 of her shares for $5,000 per share on December 31, 20X3. Arlene's income tax basis in each share is $1,000. Crystal has current E&P of $1,000,000 and accumulated E&P of $3,000,000. What is the amount and character (capital gain or dividend) recognized by Arlene as a result of the stock redemption, assuming only the "substantially disproportionate with respect to the shareholder" test is applied? 96. Crescent Corporation is owned equally by George and his daughter Olympia, each of whom own 100 shares in the company. George wants to retire from the company, and it was decided that the company will redeem all 100 of his shares for $10,000 per share on December 31, 20X3. George's income tax basis in each share is $2,000. Crescent has current E&P of $1,000,000 and accumulated E&P of $5,000,000. What must George do to ensure that the redemption will be treated as an exchange? 97. Tiger Corporation, a privately-held company, has one class of voting common stock, of which 1,000 shares are issued and outstanding. The shares are owned as follows: How many shares of stock is Mark deemed to own under the family attribution rules in a stock redemption? 98. Geneva Corporation, a privately-held company, has one class of voting common stock, of which 1,000 shares are issued and outstanding. The shares are owned as follows: Madison has a 20 percent interest in the partnership. The remaining 80 percent is owned by unrelated individuals. Madison owns 40% of Packer Corporation. The other 60 percent is owned by her father. How many shares of stock is Madison deemed to own under the family attribution rules in a stock redemption? 99. Half Moon Corporation made a distribution of $300,000 to Arnold Swartz in partial liquidation of the company on December 31, 20X3. Arnold owns 100% of Half Moon Corporation (1,200 shares). The distribution was in exchange for 50% of Arnold's stock in the company (600 shares). At the time of the distribution, the shares had a fair market value of $500 per share. Arnold's income tax basis in the shares was $250 per share. Half Moon had total E&P of $2,000,000 at the time of the distribution. What is the amount and character (capital gain or dividend) of any income or gain recognized by Arnold as a result of the partial liquidation? 100.Yellowstone Corporation made a distribution of $300,000 to Cheney, Inc. in partial liquidation of the company on December 31, 20X3. Cheney, Inc. owns 50 percent of Yellowstone Corporation (1,000 shares). The other 50 percent is owned by an unrelated corporation. The distribution was in exchange for 50% of Cheney's stock in the company (500 shares). At the time of the distribution, the shares had a fair market value of $800 per share. Cheney's income tax basis in the shares was $500 per share. Yellowstone had total E&P of $5,000,000 at the time of the distribution. What is the amount and character (capital gain or dividend) of any income or gain recognized by Cheney as a result of the partial liquidation? ch18 Key 1. TRUE 2. FALSE 3. FALSE 4. TRUE 5. FALSE 6. TRUE 7. FALSE 8. FALSE 9. TRUE 10. TRUE 11. TRUE 12. TRUE 13. FALSE 14. FALSE 15. TRUE 16. FALSE 17. FALSE 18. TRUE 19. FALSE 20. TRUE 21. FALSE 22. FALSE 23. FALSE 24. FALSE 25. TRUE 26. C 27. D 28. A 29. C 30. C 31. C 32. D 33. D 34. C 35. C 36. D 37. D 38. A 39. A 40. D 41. B 42. B 43. C 44. A 45. D 46. B 47. B 48. C 49. B 50. C 51. A 52. D 53. D 54. D 55. A 56. A 57. C 58. C 59. C 60. D 61. C 62. C 63. A 64. B 65. C 66. D 67. B 68. B 69. C 70. C 71. C 72. D 73. C 74. B 75. C Feedback: 76. $355,000 Feedback: 77. $750,000 Feedback: All $600,000 is treated as a dividend because the distribution is less than the company's total earnings and profits of $900,000. Danielle's tax basis in her Erie stock remains $120,000. 78. $600,000 dividend and a tax basis of $120,000. Feedback: Betsy has dividend income of $200,000, an amount equal to the company's current E&P. She reduces her tax basis in the Austin stock by $50,000, the excess of the distribution over the dividend amount. 79. $200,000 dividend and a tax basis in Austin stock of $75,000. Feedback: Barney reports a dividend of $100,000, the accumulated E&P at December 31, 20X3. The excess $100,000 distribution first reduces his basis in Elk stock, and the excess is treated as capital gain from sale of the stock. His tax basis in Elk stock is $0. 80. $100,000 dividend income, $75,000 tax-free return of capital, $25,000 capital gain. His tax basis in the Elk stock is $0. Feedback: No part of the distribution is treated as a dividend because both current and accumulated E&P are negative. The first $50,000 of the distribution is a tax free return of capital and the remaining $50,000 is treated as gain from sale of stock. Her tax basis in Houghton stock is $0. 81. $0 dividend to Blossom, $50,000 tax free return of capital, and $50,000 capital gain. Her tax basis in Houghton stock is $0. Feedback: 82. $529,000 Feedback: 83. $503,000 Feedback: 84. $700,000 Feedback: 85. $277,200 Feedback: 86. $500,000 taxable income, $170,000 federal income tax, $1,080,000 accumulated E&P at the beginning of 20X3. Feedback: Ted reports dividend income of $125,000, computed as the fair market value of the land received of $150,000 less the mortgage he assumes of $25,000. Ted's income tax basis in the land equals its fair market value of $150,000. 87. $125,000 dividend and a tax basis of $150,000 in the land. Feedback: 88. Taxable income of $750,000, federal income tax of $255,000, and current E&P of $495,000. Tappan would be denied a deduction for the $500,000, increasing the company's taxable income from $75,000 to $575,000. The company's tax on $575,000 is $195,500. The company's tax on $75,000 is $13,750. The company would owe additional taxes of $181,750. Feedback: The IRS could treat Carlita as receiving a constructive dividend to the extent the "bonus" is considered unreasonable compensation. The IRS could argue that the total "compensation" in excess of what an individual in Carlita's position typically receives as compensation should be recharacterized as a dividend. Carlita's compensation would be $300,000. She would report the disallowed compensation of $625,000 ($200,000 + $725,000 - $300,000) as a dividend. 89. The IRS could recharacterize $625,000 as a dividend. If the IRS recharacterizes $500,000 as a dividend, Tappan's tax liability would increase by $181,750. Feedback: The new common stock is allocated part of the tax basis of the old common stock based on relative fair market value. In a 1 for 1 stock split, Regina would allocate half of the basis of the old common stock of $200 to the new common stock, making her tax basis in the old and new common stock $100 per share. 90. $100 per share Feedback: The new stock is allocated part of the tax basis of the existing common stock based on relative fair market value. After the common stock dividend, Pierre will own 600 shares of Sweetwater common stock (500 + 500/5), each with the same fair market value. His basis in each share of common stock will be $125, computed as (500 shares x $150 basis)/600. 91. $125 per share Feedback: Terrelle reduces his ownership in Buckeye Company from 50% to 37.5% (300/800). Terrelle meets the "substantially disproportionate" test to treat the redemption as an exchange. He reduces his ownership below 50%, and his ownership percentage after the redemption is less than 80% of his ownership before the redemption (80% x 50% = 40%). As a result, Terrelle recognizes a capital gain of $800,000 ($1,000,000 $200,000). 92. $800,000 capital gain Feedback: Pine Creek reduces its accumulated E&P by the lesser of the cash distributed ($5,000,000) or the percentage of stock redeemed times accumulated E&P at the date of the redemption, after reduction by any dividends paid during the year (200/2,000 x $40,000,000 = $4,000,000). 93. $4,000,000 Feedback: Val must reduce her stock ownership in Goose below 40% as a result of the exchange. The algebraic equation to solve for the number of shares to have redeemed is (500 - X)/(1,000 - X) < 40%, where X equals the number of shares redeemed. Solving for X, the number of shares to be redeemed equals 167. After a redemption of 167 shares, Val will own 333 out of 833 shares of Goose stock. 333/833 = 39.98%, which is below the required 40% threshold to have the redemption treated as an exchange for tax purposes. 94. 167 shares Feedback: Arlene reduces her direct ownership in Crystal, Inc. from 50% to 37.5% (300/800). However, under the family attribution rules, she is deemed to own the 500 shares owned by her husband, John. Her stock ownership before the exchange is 100%, and her ownership after the exchange is still 100% (800/800). Arlene fails the "substantially disproportionate" test to treat the redemption as an exchange. As a result, she recognizes a dividend of $1,000,000 ($5,000 x 200 shares). 95. $1,000,000 dividend Feedback: A prohibited interest includes being an employee, consultant, or director. 96. George must file a "triple i agreement" with the IRS, in which he agrees he will not acquire a prohibited interest in the next 10 years. By filing such an agreement, George can waive the family attribution rules and be treated as having a complete termination of his interest in Crescent Corporation. Feedback: Mark is deemed to own his shares, his wife's shares, and his daughter's shares. 97. 750 Feedback: Madison is deemed to own her shares, her percentage ownership in the partnership's shares (50), her granddaughter's shares, and 100 percent of the corporation's shares (300). Under the family attribution rules, she is treated as owning 100 percent of the corporation. 98. 800 Feedback: An individual receives exchange treatment on distributions in partial liquidation of stock. As a result, Arnold reports capital gain of $150,000 on the stock exchanged ($300,000 - $150,000). 99. $150,000 capital gain. Feedback: A corporation receives dividend treatment on distributions in partial liquidation of stock. As a result, Cheney, Inc. reports a dividend of $300,000, which is eligible for an 80% dividends received deduction. 100. $300,000 dividend ch18 Summary Category AACSB: Reflective thinking AICPA: BB Critical thinking Blooms: Analyze Blooms: Application Blooms: Comprehension Blooms: Knowledge Learning Objective: 1801 Explain the basic tax law framework that applies to property distributions from a corporation to a shareholder. Learning Objective: 1802 Compute a corporations earnings and profits and calculate the dividend amount received by a shareholder. Learning Objective: 1803 Identify situations in which a corporation may be deemed to have paid a "constructive dividend" to a shareholder. Learning Objective: 18-04 Explain the basic tax rules that apply to stock dividends. Learning Objective: 18-05 Comprehend the different tax consequences that can arise from stock redemptions. Learning Objective: 1806 Describe a partial liquidation from a stock redemption and the difference in tax consequences to the shareholders. Level of Difficulty: Easy Level of Difficulty: Hard Level of Difficulty: Medium Spilker - Chapter 18 # of Questions 100 100 39 21 20 20 5 48 6 8 28 5 25 19 56 100

Find millions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.

Below is a small sample set of documents:

Regis - ACCOUNTING - 401
ch19Student: _1.Gain or loss is always recognized when realized for tax purposes.True False2.Generally, before gain or loss is realized for tax purposes, the taxpayer must engage in a transaction.True False3.A taxpayer's tax basis in property alw
Regis - ACCOUNTING - 401
ch20Student: _1.Income earned by flow-through entities is usually taxed once at the entity level.True False2.Partnerships tax rules incorporate both the entity and aggregate approaches.True False3.The term &quot;outside basis&quot; refers to the partnershi
Regis - ACCOUNTING - 401
ch21Student: _1.Jason is a 25% partner in the JJM Partnership when he sells his entire interest to Lavelle for $76,000. Atthe time of the sale, Jason's basis in JJM is $87,000. JJM does not have any debt or hot assets. Jason's willrecognize a gain of
Regis - ACCOUNTING - 401
ch22Student: _1.S corporations offer the same legal protection to owners as C corporations.True False2.The S corporation rules are less complex for S corporations that have earnings and profits from prior Ccorporation years than for S corporations
Regis - ACCOUNTING - 401
ch24Student: _1.&quot;Outbound taxation&quot; deals with the U.S. tax rules that apply to U.S. persons doing business outside theUnited States.True False2.Amy is a U.S. citizen. During the year she earned income from an investment in a French company. Amywi
Regis - ACCOUNTING - 401
ch25Student: _1.The amount of the estate tax is directly related to the amount of taxable gifts.True False2.The Federal transfer taxes are calculated using cumulative lifetime transfers.True False3.An exemption equivalent is the amount of annual
Regis - ACCOUNTING - 401
Regis - ACCOUNTING - 401
CHAPTER 11Depreciation and Depletion11-1LECTURE OUTLINEChapter 11 can be covered in two class sessions. Most students are alreadyfamiliar with the three primary chapter topics: depreciation accounting, income taxdepreciation and depletion accounting
Regis - ACCOUNTING - 401
CHAPTER 11DEPRECIATION, IMPAIRMENTS, AND DEPLETIONTRUE-FALSEConceptualAnswerT F T T F F T F F T T F T F T T F T F TNo.1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20DescriptionNature of depreciation. Nature of depreciation. D
Regis - ACCOUNTING - 401
CHAPTER 12Intangible AssetsASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)Topics 1. Intangible assets; concepts, definitions; items comprising intangible assets. Patents; franchise; organization costs; trade name. Goodwill. Impairment of intangibles. Resear
Regis - ACCOUNTING - 401
CHAPTER 13Current Liabilities and ContingenciesASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)Topics 1. Concept of liabilities; definition and classification of current liabilities. 2. Accounts and notes payable; dividends payable. 3. Short-term obligations
Regis - ACCOUNTING - 401
CHAPTER 15Stockholders EquityASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)Topics 1. Stockholders rights; corporate form. 2. Stockholders equity. Questions 1, 2, 3 4, 5, 6, 16, 17, 18, 29, 30, 31 7, 10 8, 9 11, 12, 17 3, 13, 14, 15 3 7, 10, 16, 17 1, 2, 4,
Regis - ACCOUNTING - 401
CHAPTER 16Dilutive Securities and Earnings Per ShareASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)Topics 1. 2. 3. Convertible debt and preferred stock. Warrants and debt. Stock options, restricted stock. Earnings Per Share (EPS)terminology. EPSDetermining
Regis - ACCOUNTING - 401
CHAPTER 23Statement of Cash FlowsASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)Topics 1. Format, objectives purpose, and source of statement. Classifying investing, financing, and operating activities. Direct vs. indirect methods of preparing operating act
Prairie View A & M - ENGL - 101
Johnson 1Ariel JohnsonProfessor DorseyRdng 0113-P021/19/2012Assignment 1Professionalism of or relating to, or connecting with a profession.Following Directions to go along with the management or guidance in which you are given.Initiative the abili
Columbia - ELEN - E4815
1Random Signals and NoiseELEN E4815Columbia UniversitySpring Semester 201227 November 2011Professor I. KaletThe Autocorrelation Function of theBinary Rectangular Random Pulse Train2THE RANDOM RECTANGULAR PULSETRAINt0T secA-Ax(t)= anp(t-nT+
Columbia - ELEN - E4815
1Random Signals and NoiseELEN E4815Columbia UniversitySpring Semester 20122 January 2012Professor I. KaletMultidimensional Gaussian RandomVariables and Joint CharacteristicFunction2Multidimensional Gaussian Random VariableThe equations below w
Columbia - ELEN - E4815
1Random Signals and NoiseELEN E4815Columbia UniversitySpring Semester 20122 January 2012Professor I. KaletThe Joint Characteristic Function,M(ju, jv), for two Gaussian randomvariables.2Joint Probability Density Function, f(x, y), forTwo Gaussi
Columbia - ELEN - E4815
1RANDOM SIGNALS AND NOISEELEN E4815Columbia UniversitySpring Semester 2012Problem Sets for the Semester16 January 2012I. Kalet2RANDOM SIGNALS AND NOISEELEN E4815COLUMBIA UNIVERSITYSPRING SEMESTER 2012Problem Set # 1Problem Set Due Date: 24 J
Columbia - ELEN - E4815
1Random Signals and NoiseELEN E4815Columbia UniversitySpring Semester 2012Syllabus16 January 2012Professor I. KaletThe course is designed to give the student an introduction to the importantsubject of random signals and noise. Random processes pl
Columbia - ELEN - E4815
1Random Signals and NoiseJerusalem College of EngineeringAutumn Semester 201121 August 2011Professor I. KaletThe Cramer-Rao Bound on anUnbiased Estimate2The Cramer-Rao Bound on anUnbiased EstimateThe Cramer-Rao bound is a lower bound on the var
Northwestern - CHEM - 210-1
1. Consider the two reactions shown below:(alkene 'A')H2 / Pt(reaction &quot;a&quot;)(alkene 'B')H2 / Pt(reaction &quot;b&quot;)a) Reaction &quot;b&quot; is more exothermic than reaction &quot;a&quot;. Provide structures and names foralkenes 'A' and 'B' - make sure it's clear which stru
Northwestern - CHEM - 210-1
3. For each of the pairs of compounds shown below, indicate whether the structures shownrepresent constitutional isomers, conformational isomers, enantiomers, diastereomers, orjust different views of the identical structure. (4 points each, 20 points to
Northwestern - CHEM - 210-1
4. Provide structures for the missing products in each of the reactions below - if no reaction isexpected, write &quot;NR&quot;. In cases where more than one significant product is expected, providemore than one structure, and indicate which of those is likely to
Northwestern - CHEM - 210-1
5. &quot;Tartaric acid&quot; is the common name given to any of the straight-chain four carbondicarboxylic acids with hydroxyl substituents at the middle two carbons.&quot;L-tartaric acid&quot; is the form of tartaric acid whichhas the specific structure shown on the righ
Northwestern - CHEM - 210-1
6. Reaction of 1-chloro-3-methyl-2-butene in 50% aqueous acetone gives a product mixtureof two compounds with formula C5H10O. Both of those compounds have a strong, broadband which occurs at about 3300 - 31000 cm-1 in their IR spectra:H3CHCH3CH 2O
Northwestern - CHEM - 210-1
1. Provide answers for each of the questions below (2.5 points each)a) Give the structure or formula of the species which acts asthe electrophile in the oxymercuration-demercurationreaction of alkenes_b) What is the stereochemistry (syn or anti) of t
Northwestern - CHEM - 210-1
2. Provide structures for the missing products or reagents, as required - if no reaction is expected, write&quot;NR&quot; (note - &quot;NR&quot; is not an acceptable answer for a reagent - if a starting compound and a productare given, you may assume there is some reagent
Northwestern - CHEM - 210-1
3. Provide a reaction sequence to bring about the conversions shown below. Neither can be done inone step (treatment with just one reagent set). Both can be brought about in just two steps (treatmentwith two reagents or reagent sets, with work-up if nee
Northwestern - CHEM - 210-1
4. Compound 'A' below reacts at a certain rate with aqueous acid under specific conditions of concentration and temperature. Under exactly identical conditions, compound 'B' reacts about two-and-ahalf times faster than 'A', and (again under identical cond
Northwestern - CHEM - 210-1
5. Starting with the alkyne designated as your only source of carbon (you may use that alkyne as manytimes as you wish), and using any reagents and solvents you wish, propose synthetic schemes for ONEtwo compounds below:(note: as a source of deuteri um
Northwestern - CHEM - 210-1
1. Provide an acceptable name for each of the compounds below (3 pts each)Ha)CH(CH3)2b)CH3CH2-CH3HHCH2-CH2-Brc)2. Pr ovide for mal char ges (if necessar y) on appr opr iate atoms on each of the followingstr uctur es - you may assume that any a
Northwestern - CHEM - 210-1
H3. Consider compound 'A' on the right:HCCCH= &quot; A&quot;Ha) what functional gr oup is pr esent in &quot; A&quot; ? (2 pts)_b) how many sp3 C' s ar e pr esent in &quot; A&quot; ? _ how many sp2? _ sp? _ (2 pts)c) what is the geometr y at the car bon atom that has no H '
Northwestern - CHEM - 210-1
4. Provide structures of molecules which fulfill the requirements specified below - to get fullcredit, the structures must be correct and unambiguous in any crucial features (4 points each)a) Two different compounds of formulaC5H13N, with structures su
Northwestern - CHEM - 210-1
5. Consider the acid-base reations shown below:(reaction 1)CH3OH + CH3NH2CH3O + CH3NH3(reaction 2)CH3OH + CH3NH2CH3OH2 + CH3NHa) What would be the direction of the equilibrium in reaction 1 (circle)? to the right(2 points)to the leftb) What woul
Northwestern - CHEM - 210-1
(a) CH37. Consider the compound 1,1-dimethylcyclopropane:(b)(d)(c)a) as best as you can, pr ovide a Newmanpr oj ection of the compound, as vieweddown the C(b) - C(c) bond axis (3 pts)b) as best you can, pr ovide a Newmanpr oj ection of the most s
Northwestern - CHEM - 210-1
1. A student proposed the series of reactions shown below as a means of converting butaneto the thioether &quot;A&quot; shown at the end of the scheme. NONE of these reactions is correct NONE will give the product specified. For each of the reactions shown below,
Northwestern - CHEM - 210-1
2. For each of the pairs of compounds shown below, indicate whether the structures shownrepresent constitutional isomers, conformational isomers, enantiomers, geometric isomers,&quot;other&quot; diasteromers (that is, diastereomers which are not geometric isomers
Northwestern - CHEM - 210-1
3. Provide structures for the missing products or missing reagents in each of the reactions below.For questions requiring product structures, if no reaction is expected, write &quot;NR&quot;. In caseswhere more than one significant product is expected, provide mo
Northwestern - CHEM - 210-1
4. If compound &quot;B&quot; is mixed with tert-butyl hypochlorite (compound &quot;C&quot; below) at lowtemperature, nothing much happens. But if the mixture is raised to a high enoughtemperature, a reaction begins which sustains itself over a period of time:CH2CH2CH3(CH
Northwestern - CHEM - 210-1
OH5. The structure on the right represents the general constitutionalformula for a family of compounds known as the aldohexapyranoses.OHOHOCH2OHOHa) H ow many possible ster eoisomer ic for ms ar e ther e for the aldohexapyr anoses? (that is,how m
Northwestern - CHEM - 210-1
6. Compound &quot;X&quot; shown on the right is 4-bromocyclohexanethiol:BrSH&quot; X&quot;Reaction of cis-4-br omocyclohexanethiol with sodium hydr oxide (NaOH ) in aqueousethanol gives as one pr oduct the compound &quot; Y &quot; , which has for mula C6H 12OS.T he same r eactio
Northwestern - CHEM - 210-1
1. Provide acceptable names for each of the compounds below (3 points each)CH3a)HCCb)CH2CHCHCCHH3CCClCHCBr2-CH2-CH2-CH3compound 2. Consider the data on heats of hydr ogenationgiven on the r ight 3.0 2/ 2.0 3/ 3.6 2/ 0
Northwestern - CHEM - 210-1
3. Provide structures for the missing products or missing reagents in each of the reactions below.For questions requiring product structures, if no reaction is expected, write &quot;NR&quot;. In caseswhere more than one significant product is expected, provide mo
Northwestern - CHEM - 210-1
4. When the compound 2-methyl propene is dissolved in methanol in the presence of fluoboric acida new compound, &quot;A&quot;, is formed. Compound &quot;A&quot; has a higher molecular weight than thestarting alkene, and it has no fluorine in its structure. If ethanol is us
Northwestern - CHEM - 210-1
5. As shown in the equation below, a mixture of lithium metal, the compound 4-octyne, andethyl amine, gives a new product, compound 'B', which has the IR and mass spectrumpresented below.H3C-H2C-H2C CC CH2-CH2-CH3LiCH 3-CH 2-NH 2compound 'B'a) Pr
Northwestern - CHEM - 210-1
6. Reaction of ( ) 2 4 100 ; .CH3CH3CH3H 2SO4 / H 2Oplus sever alother C10H 16isomer s+DH3CCH3OH(a -ter pineol)H3CCH3(ter pinolene)H3CCH3(a -ter pinene)a) Pr ovide below a step-by-step mechanism for the for mation of BOT H ter pinolen
Northwestern - CHEM - 210-1
7. Propose a sequence of reactions which would lead to the synthesis of compound 'X' shown below.As reactants, you can use any alkene or alkenes of 8 carbons or less; any one-carbon compoundsat all, and any of the reagents we commonly saw in the text or
Northwestern - CHEM - 210-1
Chemistry 210-1 Fall 2008 1st QuizO1. Provide the molecular formula (CnHm etc)for compound 'A' on the rightNH2(Compound 'A')C16H 17NO2. No lone pairs have been drawn in for atoms which possess them in thestructure shown for compound 'A'. How many
Northwestern - CHEM - 210-1
Chemistry 210-1Fall 2008 2nd QuizCH3Compound 'A' on the right is one product whichis formed when methylcyclohexane is reacted withdibromine (Br2) under appropriate conditions.HBrH(Compound 'A')1. What reaction conditions would be required to bri
Northwestern - CHEM - 210-1
Chemistry 210-1 Fall 2008 4th QuizConsider the compounds below, which are divided into two families: reactants thatare bases /nucleophiles, and substrates:reactants:CH2CH3OOH3 C C OH3C O'B''A 'NOOCH2CH2CH2Br'X 'CH 3'D''C'substr ates:H3
Northwestern - CHEM - 210-1
1. Compounds such as compound 'A',shown on the right, can be used aselectrical conductors in electricalcircuits.HH3CNNCCC(compound ' A' )CCCNNa) How many sp2 carbons are present in the structure of compound 'A'? _18__(4 points)b) Provi
Northwestern - CHEM - 210-1
2. The compound 1,2-dichloroethane is found to have a dipole moment, with a value for 1 .4 .a) Draw as a Newman projection the conformer of 1,2-dichloroethane which would be theform most responsible for this dipole moment. (4 points)ClHClHHH2)
Northwestern - CHEM - 210-1
3. Identify specific compounds as directed in the questions below (4 points each, 40 points total)a) Of the compounds below, circle the one with the highest expected boiling point; cross out theone with the lowest expected boiling point.CH3-O-CH2-CH2-C
Northwestern - CHEM - 210-1
4. Assume you wanted to convert the alkanes below to the halides shown, but you didn't carewhether the product alkyl halide was a chloride or a bromide:3CH3H3CCX 2 / hCH33 3 3( 1)23CH33 2 / 33 33 ( 2)33 3 ) ( 1 2) ? ?(4 ) 2,
Northwestern - CHEM - 210-1
5. Provide the structures of all of the isomeric alkenes possible with formula C4H7Br consider both constitutional isomers and geometric isomers when proposing structures.You'll get points for each correct structure (with a bonus if you get them all) but
Northwestern - CHEM - 210-1
1. Provide answers for each of the questions below (2.5 points each)a) Give the structure or formula of the species which acts asthe electrophile in the oxymercuration-demercurationreaction of alkenes+_H_g(O_c)_,_et__ g (or H _ A _ 2 _ c.b) What is
Northwestern - CHEM - 210-1
2. Provide structures for the missing products or reagents, as required - if no reaction is expected, write&quot;NR&quot; (note - &quot;NR&quot; is not an acceptable answer for a reagent - if a starting compound and a productare given, you may assume there is some reagent
Northwestern - CHEM - 210-1
3. Provide a reaction sequence to bring about the conversions shown below. Neither can be done inone step (treatment with just one reagent set). Both can be brought about in just two steps (treatmentwith two reagents or reagent sets, with work-up if nee
Northwestern - CHEM - 210-1
4. Compound 'A' below reacts at a certain rate with aqueous acid under specific conditions of concentration and temperature. Under exactly identical conditions, compound 'B' reacts about two-and-ahalf times faster than 'A', and (again under identical cond
Northwestern - CHEM - 210-1
5. Starting with the alkyne designated as your only source of carbon (you may use that alkyne as manytimes as you wish), and using any reagents and solvents you wish, propose synthetic schemes for ONEtwo compounds below:(note: as a source of deuteri um