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What would journal entries to record the transaction

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Reference no: EM132949333

Assume that in a common-law state Mr. Davis satisfied marital claims by transferring appreciated stock in Dupont Co. with a basis of $20,000 but has a fair market value of $100,000.

Problem 1: What would journal entries to record this transaction for Mr. Davis look like the following the Court of Claims decision?

Problem 2: What would journal entries to record this transaction for Mr. Davis look like following the Supreme Court decision?

Reference no: EM132949333

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