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Sveta_85 [38]
3 years ago
11

At a point when Robin Corporation has been in existence for six years, shareholder Ted transfers real estate (with an adjusted b

asis of $20,000 and fair market value of $100,000) to the corporation for additional stock. At the same time, Peggy, the other shareholder, acquires one share of stock for cash. After the two transfers, the percentages of stock ownership are as follows: 79% is owned by Ted and 21% by Peggy.
Business
1 answer:
Zigmanuir [339]3 years ago
6 0

Answer:

  • It appears that Ted wants to gain control per the requirements of section 351. However, Ted was short. Ted only has 79% of the stock ownership and not 80% or more. There for he does not have control. Since he does not have control, he is unable to qualify for the nontaxable transaction under section 351.

  • The Regulations provide that stock issued for property whose value is (equal/ relatively small/ relatively large) compared to the (fair market value of the assets/ value of the stock already owned) will not be treated as issued in return for property.

Explanation:

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Answer:

When goods were sold to Shiva :

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Sales Returns A/C   Rs.2000

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(Being goods returned by Shiva)

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Cash A/C  Dr    Rs.8000

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3 years ago
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vladimir1956 [14]

Answer:

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3 years ago
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Which guy is on the dollar bill
notsponge [240]

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You want to save $98,000 to buy an boat by making an equal, end of year payment into a brokerage account for the next 9 years. I
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Answer:

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Explanation:

Giving the following information:

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<u>To calculate the annual deposit, we need to use the following formula:</u>

<u></u>

FV= {A*[(1+i)^n-1]}/i

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Isolating A:

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Japanese auto manufacturers, such as Toyota and Nissan, have invested billions of dollars in the United States by building new f
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