This year, Palm Co. reports the following:   Gross income from operations$90,000Dividends from 5%-owned corporation$50,000Operating expenses($75,000)Charitable contributions($10,000)   What is Palm’s taxable income for this year?

Note: assume the requirements of Sec. (§) 351 are satisfied.   Danielle, Farrah, Colin, and Earl form Magnolia Inc. (a C corporation).   Danielle contributes land and a building used in her business in return for stock worth $40,000. Magnolia also assumes the $60,000 mortgage on these assets. Danielle originally purchased the building for $50,000.   Farrah contributes a truck in return for stock worth $5,000 and a $5,000 cash payment.   Colin contributes cash for stock worth $40,000.   Earl receives stock worth $10,000 in exchange for the performance of services.   Shareholder (S/H) Transfer to Corp. FMV Basis to S/H Stock Rec’d (by S/H) Other Prop. Rec’d (by S/H) Danielle Land $30,000 $12,000 $40,000 (debt relief—$60,000)   Building $70,000 $38,000     Farrah Truck $10,000 $15,000 $5,000 $5,000 cash Colin Cash $40,000 $40,000 $40,000 None Earl Services n/a n/a $10,000 None   All contributed assets were held for multiple years prior to the formation of Magnolia.   [question 2 of 5] What is Danielle’s basis and holding period in the stock received?

Silverbell Corp. donates two assets to a public charity in December of this year. The first asset is stock purchased four years ago for $27,000 with a fair value on the contribution date of $47,000. The second asset is a painting purchased in February of this year for $13,000 with a fair value on the contribution date of $16,000. What is Silverbell’s charitable contribution deduction? (ignore any income limitations)

Which of the following statements is not true related to organizational and start-up expenditures?

A. What function would you use to find the determinant of a matrix in Excel?  [A] a) MINVERSE    b) MDETERM       c) MMULT      d) TRANSPOSE   B. Which of the following commands can not be used to format cells in Excel? [B] a) Format Cells    b) Conditional Formatting   c) Cell Styles    d) Insert Function   C. Which of the following is a necessary condition for two matrices to be multiplied? [C] a) The number of columns in the first matrix must equal the number of rows in the second matrix  b) Both matrices must have the same dimensions c) The number of rows in the first matrix must equal the number of columns in the second matrix d) Both matrices must be square matrices     D. Which of the following is not a valid data formats in Excel?   [D] a) Number   b) Date    c) Currency    d)Formula   E.  Which of the following are not for mathematical calculations? [E] a) SUM        b) AVERAGE          c) VLOOKUP      d) STDEV.P

A nurse is caring for a client who is admitted to the labor and delivery unit. Temperature: 37.1° C (98.7° F)  Heart rate: 108/min  Respiratory rate: 22/min Blood pressure: 100/60 mm Hg  Oxygen saturation: 98%  Urinalysis: Glucose: Negative (negative)  Blood: None (none)  WBC: None ( none)  Ketones: +3 (none )  Laboratory Results: Hemoglobin: 11 g/dL (greater than 11g/dL) Hematocrit: 38% (greater than 33%)  Glucose: 68 mg/dL (60 to 90 mg/dL)  Platelets: 220,000mm3 (150,000 to 400,000 mm3)  Client is a 20-year-old primigravida who is at 18 weeks of gestation and has a past medical history of pyelonephritis. Client is alert and oriented to person, place, time, and situation. Oral mucosa is dry. Turgor without tenting. Client reports 2.3 kg (5 lb) weight loss within the past 2 weeks. Fetal Heart Rate (FHR) 145 in lower suprapubic area via external Doppler ultrasound stethoscope. Review the diagram below. Specify what condition the client is most likely experiencing, decide what 2 actions the nurse should take to address that condition. antepartum.png

Note: assume the requirements of Sec. (§) 351 are satisfied.   Danielle, Farrah, Colin, and Earl form Magnolia Inc. (a C corporation).   Danielle contributes land and a building used in her business in return for stock worth $40,000. Magnolia also assumes the $60,000 mortgage on these assets. Danielle originally purchased the building for $50,000.   Farrah contributes a truck in return for stock worth $5,000 and a $5,000 cash payment.   Colin contributes cash for stock worth $40,000.   Earl receives stock worth $10,000 in exchange for the performance of services.   Shareholder (S/H) Transfer to Corp. FMV Basis to S/H Stock Rec’d (by S/H) Other Prop. Rec’d (by S/H) Danielle Land $30,000 $12,000 $40,000 (debt relief—$60,000)   Building $70,000 $38,000     Farrah Truck $10,000 $15,000 $5,000 $5,000 cash Colin Cash $40,000 $40,000 $40,000 None Earl Services n/a n/a $10,000 None   All contributed assets were held for multiple years prior to the formation of Magnolia.   [question 3 of 5] What is Magnolia’s basis and holding period in the land contributed by Danielle?

Fringetree Corp. reports a $96,000 net operating loss (NOL) in 2024. If the company reports $110,000 of taxable income in 2025 (before the NOL deduction) and $74,000 of taxable income in 2026 (before the NOL deduction), what is its taxable income in those years after the NOL deduction?

NOLs may be carried forward indefinitely, no matter what year the NOL was created.

A patient arrives at a maternal health client and tells the nurse she has missed a period and thinks she is pregnant. Which information shared with the nurse is a presumptive sign of pregnancy?