subject
Business, 24.04.2020 16:22 lauren203

Three individuals transferred property to newly formed Triple Inc. in exchange for 1,000 shares of common stock. Mr. Albert transferred assets with a $50 ,000 tax basis in exchange for 820 shares, Mrs. Billig transferred assets with a $9,000 tax basis in exchange for 148 shares, and Mrs. Crisp transferred $4,000 cash for 32 shares. Based on the FMV of the transferred assets, each Triple share is worth $125 . Which of the following is false?A)Mr. Albert's tax basis in his 820 shares is $50,000.B)Mrs. Crisp's tax basis in her 32 shares is $4,000.C)Triple Inc.'s tax basis in the assets transferred by Mrs. Billig is $9,000.D)None of the above is false.

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 19:00
Spirula trading inc sublets a part of its offices building to jade inc. for a period of ten years . where will the company disclose this information?
Answers: 3
question
Business, 22.06.2019 11:30
1.     regarding general guidelines for the preparation of successful soups, which of the following statements is true? a. thick soups made with starchy vegetables may thin during storage. b. soups should be seasoned throughout the cooking process. c. finish a cream soup well before serving it to moderate the flavor. d. consommés take quite a long time to cool. student c   incorrect
Answers: 2
question
Business, 23.06.2019 00:10
Special order carson manufacturing, inc., sells a single product for $36 per unit. at an operating level of 8,000 units, variable costs are $18 per unit and fixed costs $10 per unit. carson has been offered a price of $20 per unit on a special order of 2,000 units by big mart discount stores, which would use its own brand name on the item. if carson accepts the order, material cost will be $3 less per unit than for regular production. however, special stamping equipment costing $4,000 would be needed to process the order; the equipment would then be discarded. assuming that volume remains within the relevant range, prepare an analysis of differential revenue and costs to determine whether carson should accept the special order. use a negative sign with answer to only indicate an income loss from special order; otherwise do not use negative signs with your answers.
Answers: 2
question
Business, 23.06.2019 04:00
Estimate the prouduct sovle using an area modelestimate the product you solve using an area model and the standard algorithm.remeber to express your products in the standard form
Answers: 3
You know the right answer?
Three individuals transferred property to newly formed Triple Inc. in exchange for 1,000 shares of c...
Questions
Questions on the website: 13722363