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Gemiola [76]
3 years ago
10

In general, the basis of property to a corporation in a transfer that qualifies as a nontaxable exchange under § 351 is the basi

s in the hands of the transferor shareholder decreased by the amount of any gain recognized on the transfer.
True / False.
Business
1 answer:
Shalnov [3]3 years ago
6 0

Answer

False

the basis of property to a corporation in a transfer that qualifies as a nontaxable exchange under § 351 is not the basis in the hands of the transferor shareholder decreased by the amount of any gain recognized on the transfer.

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Grouper Corporation has outstanding 1,900 $1,000 bonds, each convertible into 60 shares of $10 par value common stock. The bonds
natima [27]

Answer:

Explanation:

The journal entries are shown below:

1. Bonds payable A/c Dr   $1,900,000 (1,900 × $1,000)

          To Discount on bonds payable $37,000

          To Common stock $1,140,000  ($10 × 60 shares × 1,900)

          To Additional paid-in capital in excess of par $723,000

(Being the conversion of bonds is recorded and the remaining balance is credited to the Additional paid-in capital in excess of par)

4 0
4 years ago
On january 1, guillen corporation had 95,0000 shares of no par common stock issued and outstanding. The stock has a state value
SpyIntel [72]

Answer:

Follows are the solution to the given question:

Explanation:

Please find the complete question in the attachment file.

Market capitalization at 30 June:  120000 = 95000+25000

Dividends payable on 10 July: 120000

Actions omitted by 31 December: 122000 = 95000+25000+2000

X Stock Dividends 1.2

Dividend payments payable on 31  December: 146400

Total value is given: 266400 =120000+146400

7 0
3 years ago
The _______ was a foreign policy embarrassment for the United States during the Kennedy Administration. 
mrs_skeptik [129]
The Bay of Pigs Invasion was a foreign policy embarrassment for the Kennedy Administration.
When John Kennedy assumed the presidency after Dwight Eisenhower, he was faced with the pressure to act on Cuban dictator Fidel Castro's growing relationship with the Soviet Union (yet another of US' formidable enemies).
His senior advisers urged him to authorize the attack on Cuba and initiate a movement to overthrow Fidel Castro. This played on Kennedy's foreign principle which is for Democratic countries such the US to show a strong force against dictatorships like Castro's. In April 1961, the invasion at the Bay of Pigs failed extremely. Castro was quick to mobilize his militia to counter Kennedy's botched plan. Aside from this, Kennedy made some worst decisions that nailed the coffin shut. Thus the Kennedy Administration suffered a lot of damage due to this failure. 

3 0
4 years ago
Read 2 more answers
____ post ratings of products and services and contribute to and edit articles in wikis
Setler79 [48]
Critics post ratings of products and service and contribute to an edited article in wikis.
The product can be a service or an item. It can be physical or in virtual or cyber form. Each one product is made at a cost and each is sold at a price.
6 0
3 years ago
The most appropriate match between type of product and type of process occurs as one moves away from the diagonal in the product
Pavel [41]

The given statement " The most appropriate match between type of product and type of process occurs as one moves away from the diagonal in the product-process matrix " is FALSE

Explanation:

An object is a tangible product which can be marketed or used to meet internal company specifications to external consumers. A method is systemic For example – a procedure can be used in order to create a commodity.

Different objects are clustered together in a process configuration.

Process models are suitable for small businesses that do not need a single product. All unit, equipment, and machines according to how a product is made are placed in a design layout.

5 0
4 years ago
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