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-Rachelle transfers property with a tax basis of $800 and a fair market value of $900 to a corporation in exchange for stock with a fair market value of $750 and $50 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $100 on the property transferred. What is Rachelle's tax basis in the stock received in the exchange? A) $900 B) $850 (this is NOT the answer) C) $750 D) $700
-Roy transfers property with a tax basis of $800 and a fair market value of $500 to a corporation in exchange for stock with a fair market value of $400 and $50 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $50 on the property transferred. What is Roy's tax basis in the stock received in the exchange?
-please explain to me both with calculation
how to distinguish the two different questions? ( for me, I think both questions is the same)
bronzeville products wants an airplane for use by its corporate staff. the airplane that the company wishes to acquire
Calculate the amount of the impairment and restructuring charges Checkpoint reported in 2004 and 2003. Discuss why the firm reported earnings
The marketable securities have a $25,000 FMV. What is Waylon's realized gain, recognized gain, and his basis in the apartment building
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(Transactions, Financial Statements-Service Company) Listed below are the transactions of Isao Aoki, D.D.S., for the month of September.
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Record depreciation using a 5-year life on the equipment, the straight-line method, Prepare a post closing trial balance
Calculate the Accrual Accounting Rate of Return assuming that the depreciation scheme is the same as for tax reporting
On January 1, 2008, Pratt Corp. adopted a defined-benefit pension plan. Amortization of prior service cost was $48,000 for 2008. What is the amount of Pratt's prepaid pension cost at December 31, 2008?
Worth's 2015 net income was $450,000 and the income tax rate was 30%. Worth's earnings per share for 2015 would be
Describe Abell's three-dimensional business-definition model and explain where it can be utilized. Then, consider Reader's Digest
in october a company reports 21560 actual direct labor hours and it incurs 57360 of manufacturing overhead costs.
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