User Account

All Pages

How much gain does john recognize on his exchange

Assignment Help Accounting Basics
Reference no: EM131773351

Question - John forms a corporation and transfers property having a basis to him of $18,000 and a fair market value of $26,000 to the corporation for 1,000 shares of $10 par stock. One year later, Hal transfers property having a basis to him of $2,500 and a fair market value of $3,500 for 100 shares of the stock. Hal is not related to John. The corporation issued no other stock.

a. How much gain does John recognize on his exchange? What is the basis to John of his 1,000 shares?

b. What gain or loss is recognized by the corporation when it issues its shares to John? What is the basis to the corporation of the property it received from John?

c. How much gain does Hal recognize on his exchange? What is the basis to Hal of his 100 shares?

Reference no: EM131773351

Questions Cloud

Understand some people and facts described in book : Research the basic tenets of the Nazi ideology and relate your findings to Ackerman's book (The Zookeepers Wife), explaining, for instance
Discuss what amount should be reported as income tax refund : the carryback provisions for the net operating loss, what amount should be reported as Income Tax Refund Receivable in 2016
Provide the strengths of restructuring and organizations : Provide the strengths and limitations of restructuring and organizations. Provide 2 academic resources in APA style and citation format to support your topic.
Women and the lgbtq community : As much as women and the LGBTQ+ community have made progress in gaining equality and privileges that men have, there is still an imbalance of power
How much gain does john recognize on his exchange : John forms a corporation and transfers property having a basis to him of $18,000, How much gain does John recognize on his exchange
Which strategy do you think would be a good fit for you : There are many strategies that an investor can use to build their investment portfolio by investing in properties.
What is perception of the visual argument : What is your perception of the visual argument? Describe the intent of the visual?
Determine the bonds issue price : Required - For the following three separate situation, (1) Determine the bonds issue price and (2) Prepare the journal entry to record their issuance
Examine the natural frequency of the damped system : A vibrating system consisting of a mass of 2.267 kg and a spring of stiffness 17.5 N/cm is viscously damped such that the ratio of any two consecutive.

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