If a shareholder donates a valuable piece of art to a company, to be displayed in the
Question:
If a shareholder donates a valuable piece of art to a company, to be displayed in the company boardroom, does the company record a gain on the transaction?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
In this scenario the shareholder donates a valuable piece of art to the company which will be displa...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
In December 2017, one of your clients, Tim Huffman, donated a valuable piece of art to a local charity to be auctioned at its annual fund-raising auction. When Mr. Huffman donated the art, it was...
-
Which form of business organization is limited by the Internal Revenue Code (IC) concerning the number and type of shareholders? A partnership An S corporation A C corporation A sole proprietorship...
-
Access various employment Web sites (for example, www.monster.com and www.dice.com ) and find several job descriptions for a database administrator. Are the job descriptions similar? What are the...
-
What are the ratios of the resistances of (a) Silver (b) Aluminum wire to the resistance of copper wire (RAg / RCu and R Al / R Cu) for wires of the same length and the same mass (not the same...
-
According to a 2018 report by the CDC, the mean body mass index (BMI) for American adult men is 29.1 kg/m 2 , while the mean for women is 29.6 kg/m 2 . Suppose these are population averages. a. Let X...
-
57. Oriole 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: Larry Byrd 400 Paul Byrd...
-
Assume the bonds in BE14-2 were issued at 98. Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Colson Company records straight-line amortization semiannually.
-
On January 2, 2023, Koris Corporation acquired equipment for 200,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated residual value is $20,000. What is the balance in...
-
What are the common sources of reserves in equity?
-
Compare a stock split, both its substance and accounting recognition, to a large stock dividend. In what ways are the two the same or different?
-
How do the total wealth of a country and income disparity relate to sustainability?
-
Consider the closed-loop system shown in Figure P11.6, where the transfer function of the process is that of a second-order system, i.e. k Ts +25TS +1 G,(s)= Y sp(s) E(s) U(s) Y(s) Ge(s) Gp(s) Figure...
-
1. Do you feel we have come along way with inventory in 10 years? 2. How did COVID affect the supply chain in your current hospital? Were any of the inventory systems/topics used, or relevant or...
-
Identify at least one way in which your writing skills have improved this semester and reflect on how you might use this skill in your career. You can include research, presentation, and report...
-
As a project manager it is important to utilize the right tool at the right time. When it comes to managing quality on projects, this is no exception. Identify three 'Total Quality Tools' that you...
-
Describe 2 change models that you could use to create change in an organization. Choose 1 of the models that you think would be most successful in an organization, and analyze reasons why you chose...
-
As leaders make strategic decisions, they must balance the interests of various stakeholders employees, customers, shareholders, suppliers, unions/activists, and the community. Describe the best...
-
Suppose you need to answer any four of seven essay questions on a history test and you can answer them in any order. a. How many different question combinations are possible? b. What is the...
-
Whispering Winds Inc received dividends from its common share investments during the year ended December 31, 2020, as follows: . A cash dividend of $16,000 is received from Peel Corporation....
-
Pratt Company acquired all of Spider, Inc.s outstanding shares on December 31, 2018, for $518,250 cash. Pratt will operate Spider as a wholly owned subsidiary with a separate legal and accounting...
-
Question 4 (12 Marks) Professor Dr Khan, a senior lecturer at one of public university in Malaysia and retired at the age of 60, received incomes as follows in year 2019: () A monthly pension of...
Study smarter with the SolutionInn App