Business, 27.04.2021 16:00 genyjoannerubiera
Tara incorporates her sole proprietorship, transferring it to newly formed Black Corporation. The assets transferred have an adjusted basis of $290,000 and a fair market value of $300,000. Also transferred by Tara was $50,000 in liabilities, all related to the business. In return for these transfers, Tara receives all of the stock in Black Corporation.
a. Black Corporation has a basis of $241,000 in the property.
b. Black Corporation has a basis of $240,000 in the property.
c. Tara’s basis in the Black Corporation stock is $241,000.
d. Tara’s basis in the Black Corporation stock is $249,000.
e. None of the above.
Answers: 1
Another question on Business
Business, 22.06.2019 01:10
Suppose someone wants to sell a piece of land for cash. the selling of a piece of land represents turning econ
Answers: 3
Business, 22.06.2019 06:50
On january 1, vermont corporation had 40,000 shares of $10 par value common stock issued and outstanding. all 40,000 shares has been issued in a prior period at $20.00 per share. on february 1, vermont purchased 3,750 shares of treasury stock for $24 per share and later sold the treasury shares for $21 per share on march 1. the journal entry to record the purchase of the treasury shares on february 1 would include a credit to treasury stock for $90,000 debit to treasury stock for $90,000 credit to a gain account for $112,500 debit to a loss account for $112,500
Answers: 3
Business, 22.06.2019 08:00
Compare the sources of consumer credit(there's not just one answer)1. consumers use a prearranged loan using special checks2. consumers use cards with no interest and non -revolving balances3. consumers pay off debt and credit is automatically renewed4. consumers take out a loan with a repayment date and have a specific purposea. travel and entertainment creditb. revolving check creditc. closed-end creditd. revolving credit
Answers: 2
Business, 22.06.2019 09:30
Stock market crashes happen when the value of most of the stocks in the stock market increase at the same time. question 10 options: true false
Answers: 1
You know the right answer?
Tara incorporates her sole proprietorship, transferring it to newly formed Black Corporation. The as...
Questions
Mathematics, 07.12.2020 22:50
Mathematics, 07.12.2020 22:50
Biology, 07.12.2020 22:50
Mathematics, 07.12.2020 22:50
Mathematics, 07.12.2020 22:50
Mathematics, 07.12.2020 22:50
History, 07.12.2020 22:50
Mathematics, 07.12.2020 22:50
