Robert and sylvia propose to have their corporation, wolverine universal (wu), acquire another corporation, emu inc., in a stock-for-stock type b acquisition. the sole shareholder of emu, edie eagle, will receive $400,000 of wu voting stock in the transaction. edie’s tax basis in her emu stock is $100,000.(leave no cells blank - be certain to enter "0" wherever required. loss amounts should be indicated by a minus sign. omit the "$" sign in your response.) a. what amount of gain or loss does edie recognize if the transaction is structured as a stock-for-stock type b acquisition? gain or loss recognized b. what is edie�s tax basis in the wu stock she receives in the exchange? tax basis $ c. what is the tax basis of the emu stock held by wu after the exchange? tax basis $

Alpine west, inc., operates a downhill ski area near lake tahoe, california. an all-day, adult ticket can be purchased for $55. adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season, which typically runs from december 1 through april 30. the season pass is nontransferable, and the $450 price is nonrefundable. alpine expects its season pass holders to use their passes equally throughout the season. the company’s fiscal year ends on december 31. on november 6, 2009, jake lawson purchased a season ticket. required: 1. when should alpine west recognize revenue from the sale of its season passes? 2. prepare the appropriate journal entries that alpine would record on november 6 and december 31. 3. what will be included in the 2009 income statement and 2009 balance sheet related to the sale of the season pass to jake lawson?