Nick and nora form nn corporation, with each receiving 50% of the stock. nick contributes property with a fair market value of $40,000 (adjusted basis of $32,000) and nora contributes property with fmv of $2,000 (adjusted basis of $1,000) and services valued at $38,000. how much income or gain must nick recognize on the formation of nn corporation?

Which of the following statements is true about financial planning

On january 1, 2018, jay company acquired all the outstanding ownership shares of zee company. in assessing zee's acquisition-date fair values, jay concluded that the carrying value of zee's long-term debt (8-year remaining life) was less than its fair value by $21,600. at december 31, 2018, zee company's accounts show interest expense of $14,440 and long-term debt of $380,000. what amounts of interest expense and long-term debt should appear on the december 31, 2018, consolidated financial statements of jay and its subsidiary zee? long-term debt $401,600 $398,900 $401,600 $398,900 interest expense $17,140 $17,140 $11,740 $11,740 a. b. c. d.

The solution set for -18 < 5x-3 iso-3х3< xо-3хo3 > x