5. JFINEX Corporation declared dividendsonJanuary 15. The payment date is February5, the date of record is on February 1, andthe ex-dividend date is on January 27.Maria bought 100 shares of the company'sstock on January 16. Maria sells her sharesto Alex on January 27 and Alex sells to Tonion February 1. Who is entitled to thedividend?"A) MariaB) AlexC) ToniD) The person who sold the share to MariaE) None

Declaration date 15th Janaury Payment Date 5th February Record Date 1st February Ex Dividend…

Answered: . JFINEX CorpC

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter13: Corporations: Earning & Profits And Distributions

Section: Chapter Questions

Problem 31P

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4. JFINEX Corporation declared dividends on November 5. The date of record is on November 22, the payment date is November 30, and the ex-dividend date is on November 20. Tommy owns a share of stock on November 1. Tommy sells his share to Alex on November 20, and Alex sells the share to Maria on November 30. Who will receive the dividend? A) Alex B) Tommy C) Maria D) No one
1. Andrew owns shares in Telstra. Last financial year, Andrew received a $140 dividend from Telstra with $60 of franking credits attached. What amount must Andrew include in his assessable income for the year in relation to the dividend?a. $200b. None of the above.c. $140d. $60
Carlo, not a dealer in securities, had the following transactions on ordinary shares of JJ Co. (a domestic corporation) for 2021 taxable year: Jan. Purchase 10O shares P100,000 12 June Sold the shares purchased 80,000 20 on Jan. 12 June Purchased 70 shares 50,000 30 Oct. Sold the shares purchase 75,000 15 on June 30 How much was the capital gain on sale of shares on October 15?
2. M acquires H Company on 01/01/15. To obtain the net assets, M pays $200.000 in cash and issues 10.000 shares of its own $10 par value common stock. On this date, M's stock has a fair market value of $18 per share. The book values for both M and H as of 31/12/14, follow. The fair market value of each of H's accounts is also included. In addition H holds fully amortized patent that still retains a $30.000 value. H Company M Inc Fair Market Book Value Book Value Value Cash $ 300.000 $ 40.000 $ 40.000 Receivables 160.000 220.000 100.000 90.000 80.000 Inventory 130.000 130.000 Land 60.000 60.000 Buildings (net) Equipment (net) Accounts Payable Long-Term Liabilities 400.000 110.000 140.000 120.000 50.000 50.000 160.000 30.000 30.000 380.000 170.000 150.000 Common Stock 400.000 40.000 Retained Earnings 360.000 240.000 Required: Assume that this combination is a statutory merger so that H's accounts transferred to the records of M with H subsequently being dissolved corporation. Prepare the…
Shell product decided to raise additional financing by issuing common stock. The company received OMR6400 in exchange for OMR 1500 shares of OMR 1 par value common stock. By what amount should the additional paid-in capital account increase as a result of this transaction? Select one: a. OMR7900 O b. None of the options c. OMR3000 O d. OMR4900

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