Water Corporation report Essay Example for Free

Water Corporation report Essay Comparison of Dividends and Redemptions. Bailey is one of four equal unrelated shareholders of Checker Corporation. Bailey has held Checker stock for four years and has a basis in her stock of $40,000. Checker has $280,000 of current and accumulated EP and distributes $100,000 to Bailey. What are the tax consequences to Checker and to Bailey if Bailey is an individual and the distribution is treated as a dividend? The amount of a distribution equals money received plus the FMV of any non money property received reduced by any liabilities assumed or acquired by the shareholder. The distribution is treated as a dividend to the extent of the distributing corporation’s current and accumulated EP. Any additional; excess is  treated as a capital gain. The shareholder’s basis in the property received is its FMV. The shareholder’s holding period for the property begins on the day after the distribution date. When a corporation distributes appreciated property, it must recognize gain as if it sold the property for its FMV immediately before the distribution. For gain recognition purposes, a property’s FMV is deemed to be at least equal to any liability to which the property is subject or that the shareholder assumes in connection with the distribution. A corporation recognizes no loss when it distributes to its shareholders property that has depreciated in value. A corporation’s EP is increased by any EP gain resulting from a distribution of appreciated property. A corporation’s EP is reduced by (a) the amount distributed plus (b) the greater of the FMV or EP adjusted basis of any non money property distributed, minus  © any liabilities to which the property is subject or that the shareholder assumes in connection with the distribution. EP also is reduced by taxes paid or incurred on the corporation’s recognized gain, if any. In Part a, what would be the tax consequences if Bailey were a corporation? The amount of a distribution equals money received plus the FMV of any non money property received reduced by any liabilities assumed or acquired by the shareholder. The distribution is treated as a dividend to the extent of the distributing corporation’s current and accumulated EP. Any distribution amount exceeding EP is treated as a return of capital that reduces the shareholder’s stock basis (but not below zero). Any additional excess is treated as a capital gain. The shareholder’s basis in the property received is its FMV. The shareholder’s holding period for the property begins on the day after the distribution date. What are the tax consequences to Checker and to Bailey (an individual) if Bailey surrenders all her stock in a redemption qualifying for sale treatment? Sale Exception: If the redemption meets specific requirements, the distribution amount received by the shareholder is offset by the adjusted basis of the shares surrendered. The difference generally is treated as a capital gain or loss. No basis adjustment occurs. Gain/Loss Recognition: Under the sale exception, the corporation recognizes gain (but not loss) as though it has sold distributed noncash property for its FMV immediately before redemption. Earnings and Profits Adjustment: For a redemption treated as a sale, EP is reduced  by the portion of current and accumulated attributable to the redeemed stock. Any distribution amount exceeding this portion reduces the corporation’s paid-in capital. In Part c, what would be the tax consequences if Bailey were a corporation? Sale Exception: If the redemption meets specific requirements, the distribution amount received by the shareholder is offset by the adjusted basis of the shares surrendered. This difference is generally treated as a capital gain or loss. No basis adjustment occurs. Which treatment would Bailey prefer if Bailey were an individual? Which treatment would Bailey Corporation prefer? Bailey would prefer to be taxed and treated as an individual. Bailey corporation would prefer to be treated like a corporation. Compare the tax consequences to the shareholder and the distributing corporation of the following three kinds of corporate distributions: ordinary dividends, stock redemptions, and complete liquidations Ordinary Dividends The amount of a distribution equals money received plus the FMV of any non money property received reduced by any liabilities assumed or acquired by the shareholder. The distribution is treated as a dividend to the extent of the distributing corporation’s current and accumulated EP. Any additional; excess is treated as a capital gain. The shareholder’s basis in the property received is its FMV. The shareholder’s holding period for the property begins on the day after the distribution date. When a corporation distributes appreciated property, it must recognize gain as if it sold the property for its FMV immediately before the distribution. For gain recognition purposes, a property’s FMV is deemed to be at least equal to any liability to which the property is subject or that the shareholder assumes in connection with the distribution. A corporation recognizes no loss when it distributes to its shareholders property that has depreciated in value. A corporation’s EP is increased by any EP gain resulting from a distribution of appreciated property. A corporation’s EP is reduced by (a) the amount distributed plus (b) the greater of the FMV or EP adjusted basis of any non money property distributed, minus  © any liabilities to which the property is subject or that the shareholder assumes  in connection with the distribution. EP also is reduced by taxes paid or incurred on the corporation’s recognized gain, if any. Stock Redemption for Shareholders General Rule: The distribution amount received by a shareholder in exchange for his or her stock is treated as a dividend to the extent of the distributing corporation’s EP. The basis of the surrendered stock is added to the basis of the shareholder’s remaining stock. Distributing Corporation Gain/Loss Recognition: Under the general rule, the corporation recognizes gain (but not loss) as though it had sold distributed noncash property for its FMV immediately before the redemption. Earnings and Profits Adjustment: For a redemption treated as a dividend, EP is reduced in the same manner as for regular dividend.

Chaucers Canterbury Tales Essay -- Philosophy Literature Papers

Chaucer's Canterbury Tales After reading explications of Chaucer's Canterbury Tales, a student is likely to come away with the impression that the Franklin is the critics favorite punching bag. To the average reader in the modern English-speaking world, the Franklin comes across as surprisingly fair-minded and level-headed, noteworthy as the man kind and inventive enough to resolve the marriage cycle with a tale of decency and openness. The critics, however, often depict the Franklin as a man primarily concerned with upward mobility, finding in his tale a number of remarks intended to win over the nobility and subtly assert his own claim to a kind of nobility. The contrast between the fawning Franklin of certain critical approaches and the open-minded Franklin of the more pedestrian reader can probably be summed up in the word "bourgeois." Some critics find in the Franklin a good example of the less flattering qualities of the word, while modern American readers -- products of a society in which the bourgeois lifestyle is considered the norm -- tend to find in the Franklin an intelligence, style and tolerance often associated with the upwardly mobile or the middle class. His "everybody wins" approach to the problems of the romance might even be an example of what Marxists and anarchists used to decry as bourgeois liberalism. It might be best to first clear up what exactly is meant when we speak of a Marxist critique. Marxist literary criticism is based largely on the Marxist paradigm of historical materialism: the idea that social and cultural institutions -- including art -- are the product of prevailing economic conditions (Murfin 157-158). Not only is the medium the message, Marxists argue, the medium is a commodity which... ...served. Here, whether he likes it or not, the Franklin is forced to endorse the system of contracts which turns Dorigen into a commodity. The success of his story, and possibly the validity of the worldview which produces it, depends on the Franklin's ability to postpone the expression of his listeners doubts -- to postpone them indefinitely, if need be. Perhaps this is why the Franklin is so insistent, at tales end, on asking which character was most generous, and why he insists on hearing answers immediately. His tale of the elimination of maistrye has turned into a tale of people mastered not by each other but by a system of exchange. The best way to hide the maistrye of the marketplace is to offer the audience a chance to argue while directing them away from the shocking moment when the gentillesse of the marketplace tramples on free will and personal integrity.

Nature of Dreaming

The dreaming is the centre of the Aboriginal culture which everything relates back to, the creation of people, animals, water and land. The Dreaming for Aboriginals is, ‘the past, the present and the future’. 1. Outline the nature of the Dreaming- its stories, symbolism and art. Outline means to sketch in general terms, indicate the main features of. Aboriginal people tell the stories of the land and how it came to be with all its living creatures through expression of song, dance, painting and storytelling. The Aboriginal Dreaming is set into multiple layers from the simplest first layer which anyone can access and understand to the second layer onward where the concepts are more complicated and a person must have a relationship to the Aboriginal people or culture to understand. The last couples of layers are only for initiated Aboriginals and Aboriginal elders and are very sacred and secret from anyone and everyone else. Aboriginal Dreaming stories are depicted in the numerous artworks done using various techniques and coloured natural paints. Behind every painting there is hidden symbolism and every little shape, line and colour relates to some form of the Aboriginal life. The painting Sugarleaf at Ngarlu is an excellent example of hidden symbolism using shapes to create meaning such as camp sites, women dancing, footprints, ceremonial poles and women gathering socially. The stories of the dreaming are important as it is passed from generation to generation by the elders about the different experiences, lessons and Gods and spirits. Painting was the main way of expressing stories from ancestors specifically on rocks, utensils, weapons and as body art. Rock art has given evidence of human presence in Australia for over 30000 years. In the present day and in the past, body paintings have been used to show social position, relationship to their family, ancestors and to a person’s totem. Reference http://www.aboriginalartonline.com/art/art.php

Provide Support for Mobility - 2417 Words

Provide support for mobility (HSC 2002) Outcome 1 Understand the importance of mobility 1. define mobility Mobility is defined as, * being able to move or be moved freely and easily * the ability to move physically * The ability to move a part of the body 2. explain how different health conditions may affect and be affected by mobility No matter an individuals age, level of disability or infirmity it is important that everyone maintains some level of exercise. There are a vast range of disabilities and conditions which can result in mobility difficulties. Some of the most common on-going or permanent conditions result from muscular and skeletal disabilities and from on-going medical conditions which affect mobility. Some†¦show more content†¦You need to carry out an exercise programme exactly as specified in the care plan and record and report the outcomes and any problems at each step. Others involved in an individual’s mobility activities could include an occupational therapist, physiotherapist, G.P. or community nurse. If the mobility activities are less formal and the outcome required is to maintain the individual’s mobility on a daily basis this can be done through active support and encouragement. You should encourage the individual to do things for themselves and participate in activity and exercise where possible. An example would be to encourage their participation in household activities You should identify and agree with the individual the best way for them to maintain their mobility and any preferences to the form of exercise they prefer. It is important to ensure the individual agrees as it is important they are willing to participate in order for the programme to work. 2. remove or minimise hazards in the environment before beginning a mobility activity It is important to carry out a risk assessment of the environment prior to beginning a mobility activity. This is to ensure the health and safety of the individual and yourself and prevent any accidents or injuries from occurring. You need to carry out a riskShow MoreRelatedHsc2002 Provide Support with Mobility2249 Words   |  9 PagesHSC2002 Providing Support with Mobility What Does Mobility Mean? Mobility means, having the ability to move freely around ones environment. What Different Health Conditions Can Affect And Be Affected By Mobility? 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