subject
Business, 09.09.2021 23:10 bangchan

Marie and Ethan form Roundtree Corporation with the transfer of the following. Marie performs personal services for the corporation with a fair market value of $94,800 in exchange for 400 shares of stock. Ethan contributes an installment note receivable (basis $25,000; fair market value $30,000), land (basis $50,000; fair market value $170,000), and inventory (basis $143,360; fair market value $179,200) in exchange for 1,600 shares. Determine Marie and Ethan's current income, gain, or loss and calculate the basis that each takes in the Roundtree stock.

ansver
Answers: 3

Another question on Business

question
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
question
Business, 22.06.2019 11:20
Which stage of group development involves members introducing themselves to each other?
Answers: 3
question
Business, 22.06.2019 13:10
Thomas kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. thomas's fastest-moving inventory item has a demand of 6,000 units per year. the cost of each unit is $100, and the inventory carrying cost is $10 per unit per year. the average ordering cost is $30 per order. it takes about 5 days for an order to arrive, and the demand for 1 week is 120 units. (this is a corporate operation, and the are 250 working days per year.)a) what is the eoq? b) what is the average inventory if the eoq is used? c) what is the optimal number of orders per year? d) what is the optimal number of days in between any two orders? e) what is the annual cost of ordering and holding inventory? f) what is the total annual inventory cost, including cost of the 6,000 units?
Answers: 3
question
Business, 22.06.2019 17:30
What do you think: would it be more profitable to own 200 shares of penny’s pickles or 1 share of exxon? why do you think that?
Answers: 1
You know the right answer?
Marie and Ethan form Roundtree Corporation with the transfer of the following. Marie performs person...
Questions
question
Biology, 06.04.2020 06:24
question
Social Studies, 06.04.2020 06:24
question
Mathematics, 06.04.2020 06:25
question
Mathematics, 06.04.2020 06:25
Questions on the website: 13722367