[jeff]

I’ve had a few requests for April/May Study Groups…March will be here before you know it.

In order to take an early April exam, you should begin studying…now. 🙂

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[NJPRU]

I agree with all of the above. 🙂

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[Anonymous]

Why do I find Sales leaseback so hard to understand LOL

[stoleway]

What will be the effect of liquidating dividend on declaration date?

I). increase RE and reduces APIC

II) Decreases RE and increase APIC

III) Decreases RE and APIC

IV) Decreases only RE

A) i and ii

b) iii and iv

c) iv only

d) iii only

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[NJPRU]

d. i and iii

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[Anonymous]

I get III would be the case since in my mind if you Liquid a portion can be RE – which will be seen as cash Divi and some APIC

which is the actual liquidating

but I am puzzled as to why would it be possible 🙁

IV to me means they just did a cash dividend and its not really liquidating as liquidations is return of capital invested.

[stoleway]

I tweaked the question once again, I think the choices were confusing, so lets try this one

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[NJPRU]

A. i and ii

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[Anonymous]

Then i would pick D.

God Help me Soul as i am confused a bat.

[stoleway]

Answer is D liquidating dividend reduces RE and the excess reduces APIC

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[WANNABE_CPA]

On Jan 1 of current year, Lean co made an Investment of $10000. Following are PV of $1 discounted at 10%Interest rate.

Periods 1 PV of $1 .909

2 .826

3 .751

what amount of cash will he accumulate in 2 years?

a.12107

b.12000

c.27002

d.16250

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[Anonymous]

Here is one

A Company exchanged land with an appraised value of 50,000 and an original cost of 20,000 for a machinery with FV of 55,000. Assuming that the transaction has commercial substance what is the gain of exchange?

a 0

b 5,000

c 30,000

d 35,000

[NJPRU]

OMG, I think i was confusing liquidating dividends for Quasi Reorganizations lol smh

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[stoleway]

@WANNABE_CPA

A….10,000/.826= 12,107

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[Lidis]

A

10000/.826 = 12,107

[WANNABE_CPA]

Can someone explain me the PV question, i just never seem to understand PV and FV…shouldnt this be calculated with FV table because we need to find what amount will accumulate in 2 years…As per a statement in becker it says..use FV of $1 if the amount to accumulate at a future point in time if 1$ invested now?

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[Author]

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