Ann and Bob form Robin Corporation. Ann transfers property worth $420,000 (basis of $150,000) for 7 share in Robin Corporation. Bob receives 30 shares for property worth $ 165,000 (basis of $30,000) and for legal services (worth $ 15,000) in organizing the corporation.1. What gain or income, if any, will the parties recognize on the transfer?Ann recognizes (ordinary income or gain) of . Bob recognizes (ordinary income or gain) of .2. What basis do Ann and Bob have in the stock in Robin Coportation?
Ann has a basis of , while Bob has a basis of in the stock.3. What is Robin Corportaion's basis in the property and services it received form Ann and Bob?Robin Corportaion has a basis of in the property Ann transferred and a basis of in the property Bob transferred.

On average, someone with a bachelor's degree is estimated to earn times more than someone with a high school diploma. a)1.2 b)1.4 c)1.6 d)1.8

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.

The textbook defines ethics as “the principles of conduct governing an individual or a group,” and specifically as the standards one uses to decide what their conduct should be. to what extent do you believe that what happened at bp (british petrolium) is as much a breakdown in the company’s ethical systems as it is in its safety systems, and how would you defend your conclusion?