Business, 17.07.2020 20:01 ketricduggerp2ciuc
Sarah and Tony (mother and son) form Dove Corporation with the following investments: cash by Sarah of $65,000; land by Tony (basis of $25,000 and fair market value of $35,000). Dove Corporation issues 400 shares of stock, 200 each to Sarah and Tony. Thus, each receives stock in Dove worth $50,000.
a. Section 351 cannot apply since Sarah should have received 260 shares instead of only 200.
b. Section 351 may apply because stock need not be issued to Sarah and Tony in proportion to the value of the property transferred.
c. Tony's basis in the stock of Dove Corporation is $50,000.
d. As a result of the transfer, Tony recognizes a gain of $10,000.
e. None of the above.
Answers: 2
Business, 22.06.2019 05:00
Ajewelry direct sales company pays its consultants based on recruiting new members. question 1 options: the company is running a pyramid scheme, which is illegal. the company is running a pyramid scheme, which is legal. the company has implemented a legal and ethical plan for growth. the company uses this method of compensation to reduce the fee for the product sample kit.
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Business, 22.06.2019 20:00
The master manufacturing company has just announced a tender offer for its own common stock. master is offering to buy up to 100% of the company's stock at $20 per share contingent on at least 64% of the outstanding shares being tendered. after the announcement of the offer, the stock closed on the nyse up 2.50 at $18.75. a customer has 100 shares of master stock in his cash account. the customer tells you that he wishes to "cash out" his position. you should recommend that the customer:
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Business, 22.06.2019 20:20
Xinhong company is considering replacing one of its manufacturing machines. the machine has a book value of $39,000 and a remaining useful life of 5 years, at which time its salvage value will be zero. it has a current market value of $49,000. variable manufacturing costs are $33,300 per year for this machine. information on two alternative replacement machines follows. alternative a alternative b cost $ 115,000 $ 117,000 variable manufacturing costs per year 22,900 10,100 1. calculate the total change in net income if alternative a and b is adopted. 2. should xinhong keep or replace its manufacturing machine
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Business, 22.06.2019 22:00
What legislation increased the ability for federal authorities to tap telephones and wireless devices, tightened the enforcement of money laundering activities, as well as broadened powers toward acts of terrorism and acts such as drug trafficking?
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Sarah and Tony (mother and son) form Dove Corporation with the following investments: cash by Sarah...
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