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schepotkina [342]
3 years ago
6

Marie and Ethan form Roundtree Corporation with the transfer of the following:

Business
1 answer:
Gelneren [198K]3 years ago
7 0

Answer: Please see the expl;anation column

Explanation:

Current Income of  Marie =$80,000 due to  services done for the corporation

Basis of Marie =$80,000 basis in her 400 shares of stock

b)Current  income of  Ethan =$0, due to no service done for the corporation.

basis of Ethan =$175,000 basis in his 1,600 shares of stock.  This is accrued from

Note Receivable 25,000

land                         50, 000

Inventory              100,000

Total basis of Ethan     $175,000

c) No gain or loss recognized  this is because according to Section 351

When there is a  transfer of property to corporation in exchange for stock and transferors take  control of the corporation then No gain or loss will be recognized.

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Required information Skip to question [The following information applies to the questions displayed below.]
Dimas [21]

Answer:

($148 million)

Explanation:

Calculation to determine Rapid Pac’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2021

Cash flow from Investing activities ($ Million)

Proceeds from sale of land 12

Purchase of Investment (160)

Net cash inflows (outflows) from Investing activities ($148)

Therefore Rapid Pac’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2021 will be ($148 million)

8 0
3 years ago
Which command is used to draw visible line form invisible line mode *
KatRina [158]

In Microsoft window logo, the command which is used to draw visible line that forms an invisible line mode is: A. PD.

Microsoft window logo is a programming language that was designed and developed at the Massachusetts Institute of Technology (MIT) by George Mills, based on the educational programming language called Logo.

Some of the commands that are used on Microsoft window logo include the following:

  • FORWARD (fd)
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  • HOME
  • RIGHT (rt)
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In Microsoft window logo, the Pendown (PD) command is used to instruct the turtle to draw a visible line or leave ink (tracks) on the screen as it moves. Thus, it is a command which is used to draw visible line while forming an invisible line mode.

Read more on programming language here: brainly.com/question/16901424

6 0
2 years ago
If you focus on the present now, instead of focusing on your future concerns, you will be able to __________.
dalvyx [7]
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D

Explanation:
4 0
3 years ago
Read 2 more answers
Which factor caused a higher oil prices to directly lead to inflation?
defon
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7 0
3 years ago
Hi-Tek is a young start-up company that is currently retaining all of its earnings. The company plans to pay a $2 per share divi
ziro4ka [17]

Answer:

Option (a) is correct.

Explanation:

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Dividend pay in year 7, D7 = $2 per share

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3 years ago
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