Splish Brothers Inc. took a physical inventory on December 31 and determined that goods costing $226,000 were on hand. Not included in the physical count were $31,000 of goods purchased from Novak Corp., FOB, shipping point, and $26,500 of goods sold to Crane Company for $33,000, FOB destination. Both the Novak purchase and the Crane sale were in transit at year-end. What amount should Splish Brothers report as its December 31 inventory

Tara incorporates her sole proprietorship, transferring it to newly formed black corporation. the assets transferred have an adjusted basis of $240,000 and a fair market value of $300,000. also transferred was $10,000 in liabilities, $1,000 of which was personal and the balance of $9,000 being business related. in return for these transfers, tara receives all of the stock in black corporation. a. black corporation has a basis of $241,000 in the property. b. black corporation has a basis of $240,000 in the property. c. tara’s basis in the black corporation stock is $241,000. d. tara’s basis in the black corporation stock is $249,000. e. none of the above.

How are interest rates calculated by financial institutions? financial institutions generally calculate interest as (1) interest or (.

En major recording acts are able to play at the stadium. if the average profit margin for a concert is $175,000, how much would the stadium clear for all of these events combined?