Woolsey corporation, a u. s. company, expects to sell goods to a british customer at a price of 250,000 pounds, with delivery and payment to be made on october 24. on july 24, woolsey purchased a three-month put option for 250,000 british pounds and designated this option as a cash flow hedge of a forecasted foreign currency transaction expected to be completed in late october. the following exchange rates apply:

option strike price = $2.17
option cost : $4,000
july 24th spot rate : $2.17
october 24th spot rate : $2.13
october 24th option premium : $.04

what amount will woolsey include as adjustment to net income for the period ended october 31?
a. $6,000 positive.
b. $6,000 negative.
c. $10,000 positive.
d. $10,000 negative.
e. $14,000 positive.

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate.the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received.c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.

The largest elements of community corrections are

Robert owns a life insurance policy that he purchased when he first graduated college. it has a $100,000 death benefit and robert pays premiums for it every month out of his checking account. the insurance robert has is most likely da. permanent life insurance o b. term life insurance o c. group life insurance o d. individual life insurance