User Account

All Pages

What is the corporation basis in the asset received

Assignment Help Accounting Basics
Reference no: EM132631100

Problem - Angie and Brad form Cats Are Us, Inc. Angie contributes $120,000 cash for 60% of the stock. Brad contributes an asset with an FMV of $90,000 and an adjusted basis of $30,000 for 40% of the stock. Brad also receives $10,000 cash from the corporation. What is the corporation's basis in the asset received from Brad?

a. $10,000

b. $30,000

c. $40,000

d. $90,000

Reference no: EM132631100

Questions Cloud

Justify examples from harley-davidson history : Identify and justify examples from Harley-Davidson's history that indicate first-order change (from single-loop learning)
What are the three key elements to a negotiation situation : What are the three key elements to a negotiation situation that should be evaluated before bargaining begins?
Supreme court case reflection : Your Reflection should be based on the court case you were assigned. Discuss any subsequent developments that have resulted from the decision,
Compute net paid days worked for a full-time employee : Compute Net Paid Days Worked for a full-time employee in the physicians' group. Calculate the FTEs needed next year to Annualize Staffing
What is the corporation basis in the asset received : Brad also receives $10,000 cash from the corporation. What is the corporation's basis in the asset received from Brad
Find internal and external stakeholder perspective : What would you do from both an internal and external stakeholder perspective?
Practice servant leadership in a competitive corporate : Is it possible to practice servant leadership in a competitive corporate climate?
Which approach to social responsibility do inditex : Which approach to social responsibility do Inditex and other companies demonstrate when recycling/re-using clothing materials?
Policing mental health unit proposal : Write a proposal to create a mental health unit in a law enforcement unit. Discuss laws that may help or hinder the unit's work

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