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On January 2, 2012, Douglas and Jane created DJ Corporation. Douglas contributed to DJ Corporation assets worth $100,000 that had an adjusted basis to Douglas of $14,000. The contributed assets were subject to a liability of $16,000. In exchange for his contribution to DJ Corporation, Douglas received 80 percent of the shares of DJ Corporation. DJ Corporation filed a timely and proper S election effective as of January 2, 2012. Douglas also guaranteed a corporate loan made by The Bank in the amount of $6,000. What is Douglas' adjusted basis in the stock he received from DJ Corporation?
there are 3 ants at 3 corners of a triangle they randomly start moving towards another corner. what is the probability
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The Bird Toy Company manufactures a line of dolls and a doll dress sewing kit. Demand for the dolls is increasing, and management requests assistance from you in determining an economical sales and production mix for the coming year.
the trial balance below was taken from the records of r. martin executor for the estate of j. mitchell on october 31
Calculator processing cycle efficiency (PCE) under the traditional and JIT systems for the Nosun Product.
Jon Johnson an accountant with local CPA firm, has just completed an inventory count for Mom & Pop's Groceries. Mom and Pop provide audited financial statements to their bank annually, and part of that audit requires an inventory count.
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Per SAS 100 Procedures for Reviewing Interim Financial Information there are many items to review. One of these items that is necessary is to interview with members of management and the board of directors, why is this so crucial?
green fingers co. makes small plant stands that sell for 25 each. the companys annual level of production and sales is
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