subject
Business, 26.03.2021 04:30 alialoydd11

Indigo Corporation wants to transfer cash of $182,400 or property worth $182,400 to one of its shareholders, Linda, in a redemption transaction that will be treated as a qualifying stock redemption. If Indigo distributes property, the corporation will choose between two assets that are each worth $182,400 and are no longer needed in its business: Property A (basis of $91,200) and Property B (basis of $237,120). a. The distribution of Property A would result in a $ recognized gain to Indigo.
b. The distribution of Property B would result in a $ disallowed loss to Indigo.
c. A sale of Property B to an unrelated party would result in a $ recognized loss to Indigo.

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 13:00
The green revolution is a scientific breakthrough that improved seeds for basic crops. how did the green revolution impact the supply of basic crops such as wheat and corn? the supply of wheat and corn increased. there was no impact on the supply of basic crops. the supply of basic crops did not change, but the quantity supplied of basic crops increased. the supply of wheat and corn decreased.
Answers: 3
question
Business, 22.06.2019 23:30
Sally mitchell works as a manager at an environmental organization. she is currently working on a global warming project and decides which tasks related to creating awareness about the issue need to be done. in addition, she is also deciding which members of her team will work on engaging with the public and which will work on lobbying with the government. she is also assigning people as team members to ensure that tasks are undertaken on time. which of the following categories of functions is mitchell undertaking? envisioning organizing controlling planning
Answers: 1
question
Business, 22.06.2019 23:50
Cash flows during the first year of operations for the harman-kardon consulting company were as follows: cash collected from customers, $360,000; cash paid for rent, $44,000; cash paid to employees for services rendered during the year, $124,000; cash paid for utilities, $54,000.in addition, you determine that customers owed the company $64,000 at the end of the year and no bad debts were anticipated. also, the company owed the gas and electric company $2,400 at year-end, and the rent payment was for a two-year period.calculate accrual net income for the year.
Answers: 2
question
Business, 23.06.2019 02:30
Complete electronics inc. sells a point-of-sale computer with a two-year service contract. complete collects $ 2 comma 500 cash for the selling price of the computer and $ 576 for the two-year service contract. how is revenue recognized?
Answers: 2
You know the right answer?
Indigo Corporation wants to transfer cash of $182,400 or property worth $182,400 to one of its share...
Questions
Questions on the website: 13722360