User Account

All Pages

Discuss the tax impact to Unicorn

Assignment Help Accounting Basics
Reference no: EM132480592

Question - Unicorn and Zebra form the UZ Co., a partnership. Unicorn contributes inventory with fair market value of $650,000 and an adjusted basis of $200,000 and cash of 350,000 for a 50% interest in the partnership. Zebra contributes computers, hardware, and proprietary software with a fair market value of $1,000,000 and a tax basis of $300,000 for a 50% interest in the partnership. The computer hardware, which was purchased from IBM on credit, is subject to an equipment loan of $300,000.

Please discuss the tax impact to:

1. Unicorn,

2. Zebra, and

3. UZ Co.

Reference no: EM132480592

Questions Cloud

Have you participated in any volunteer : Have you participated in any volunteer or other activity involving a social problem? If so, why did you do so? If, not why have you not participated in such an
Compute Cougar book income or loss : Compute Cougar's book income or loss. Compute Johnny's ending stock basis. Calculate Cougar's ending AAA balance
Determine give example journal entries for both : What is the difference between the direct write-off method and the allowance method for receivables? Give example journal entries for both.
Prepare journal entries to record the collection of the note : Prepare journal entries to record:a. the January 1, reversing entriesb. the March 1, $4,326 collection of the note receivablec. the May 1, $6,300 payment
Discuss the tax impact to Unicorn : Unicorn contributes inventory with fair market value of $650,000 and an adjusted basis of $200,000. Discuss the tax impact to Unicorn
How much should be recorded as goodwill for this transaction : Annapolis Company was recently sold for $480,000. Using this information, how much should be recorded as Goodwill for this transaction
Prepare the necessary journal entry to record the exchange : For each company, Determine prepare the necessary journal entry to record the exchange. (The exchange has commercial substance.)
What should the company report as additional paid-in capita : The company sells 100 shares of this treasury stock for $23 per share. What should the company report as additional paid-in capital in the stockholders' equity
Evaluate the management control system : In point form, list the advantages and disadvantages that residual income might have over the use of ROI at Riverside. Evaluate the management control system

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd