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AysviL [449]
3 years ago
8

Mandel transferred property to his new corporation in a section 351 transaction. Among the several properties transferred by Man

del was land with a fair market value of $200,000 and a tax basis of $250,000. In all cases, the corporation will always take a tax basis in the land of $200,000 to prevent the "built-in loss" from being transferred from Mandel to the corporation.
True / False.
Business
1 answer:
JulsSmile [24]3 years ago
5 0

Answer:

False

Explanation:

§ 351 establishes that businesses shall not recognize any capital gain or loss from property transferred to them in exchange of stocks or partnership share. So the businesses have to record this type of transactions at their fair market value and not their tax basis.

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Phishing is looking for and reporting online scams.<br><br> True or <br> False
MAXImum [283]
False. Phishing is usually considered emails that are sent that look genuine but are actually from scammers trying to obtain personal or financial information. 
4 0
4 years ago
Read 2 more answers
At Celgene, the environment is _________ because of the __________ and because of the ___________. Resources are __________.The
sveta [45]

Answer: The answers are "dynamic", "pace of change and complex",  "number of factors that are changing", "scarce", "high" and "difficult".

Explanation: At Celgene, the environment is <u>dynamic</u> because of the<u> pace of change and complex</u> and because of the <u>number of factors that are changing</u>. Resources are <u>scarce</u>. The managers at Celgene are facing conditions of <u>high</u> uncertainty. This means that it will be <u>difficult</u> for them to make strategic decisions about the types of products the company will offer in the future.

7 0
3 years ago
As of December 31, Year 1, Mason Company had $500 cash. During Year 2, Mason earned $1,200 of cash revenue and paid $800 of cash
alexgriva [62]

Answer:

The balance sheet will show a cash balance of 900 dollars.

Explanation:

<em>We do the cash T account to solve for this. As it resumes all the transactions for the given period of time and can be used to determinate the balance.</em>

           CASH

<u>   DEBIT        CREDIT   </u>

    500

   1,200

<u>                         800     </u>

  1,700              800

Balance: 900

We post the inflow in the debit side while the outflow (expenses paid) in the credit side.

Then we subtract one from another and get the balance which is always on debit.

6 0
3 years ago
Retained earnings, December 31, 2012 $ 306,800 Cost of equipment purchased during 2013 29,000 Net loss for the year ended Decemb
aksik [14]

Answer:

$288,500

Explanation:

Particulars                                                          Amount

Retained Earnings Dec 31, 2012                      $306,800

Less: Net Loss for the Year                              $4,000

Less: Dividend declared and paid in 2013      <u>$14,300</u>

Retained Earnings Dec 31, 2013                     <u>$288,500</u>

3 0
3 years ago
To determine a credit score, debt, available credit and total assets are all part of the
satela [25.4K]

Answer:

Net assets of smith family = $167,000

Explanation:

Given:

Net worth of smith family = $100,000

Net liabilities of smith family = $67,000

Find:

Net assets of smith family

Computation:

Net assets = Net worth + Net liabilities

Net assets of smith family = Net worth of smith family + Net liabilities of smith family

Net assets of smith family = $100,000 + $67,000

Net assets of smith family = $167,000

4 0
3 years ago
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