1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Valentin [98]
2 years ago
10

On July 1, of the current year, Robert forms the Yew Corporation. In exchange for 100 percent of the corporation's stock, Robert

contributes land with a fair market value of $100,000. Robert acquired the land 5 years ago at a cost of $30,000. At the date of the contribution, the land is subject to a $10,000 mortgage which the corporation assumes. What is the basis of the land to Yew Corporation
Business
1 answer:
SOVA2 [1]2 years ago
5 0

Answer:

$20,000

Explanation:

Based on the information given the basis of the land to Yew Corporation will be the amount of $20,000 which represent the cost of acquiring the land less mortgage reason been that we were told that the land was acquired by Robert 5 years ago at the amount of $30,000 in which it was subject to $10,000 mortgage.

Hence,

Basis=Cost of land -Mortgage

Basis=$30,000-$10,000

Basis=$20,000

You might be interested in
Companies in the same industry often select very different distribution networks, because the choice of the distribution network
Helen [10]

Answer:

T

Explanation:

6 0
2 years ago
Melanie Gollick, nursing floor manager for Scripps Memorial Hospital La Jolla, says, "It’s the personality and being able to mes
ipn [44]

Answer:

The correct answer is b) Be able to use his or her skills.

Explanation:

Melanie Gollick believes that employees must be able to develop and use their skills to perform work in the hospital. But the use of these skills will depend on the personality of each person and the way they adapt to carry out group work.

Skills refer to a set of skills that each person presents, this ability may be different for each person, for example, a person who works in the health area in a hospital needs to be among their skills, work under pressure, follow instructions, empathy, adaptation, group work, among others.

<em />

<em>I hope this information can help you.</em>

5 0
3 years ago
Which company is most exposed to the ups and downs of the aircraft engine industry? a) General Electric b) MTU Aero Engines c) U
Mrac [35]
I think it’s b but I can’t garauntee I’m sorry
6 0
3 years ago
What are the central concerns of economics?
attashe74 [19]
"<span>B) Resource use, production, and distribution of goods and services" is the correct answer. Economics is really a study of limited resources, and how people make choices. </span>
5 0
2 years ago
Petrenko Corporation has outstanding 2,000 $1,000 bonds, each convertible into 50 shares of $10 par value common stock. The bond
cricket20 [7]

Explanation:

The Journal entry is given below :-

Bonds payable                                      $2,000,000

      To common stock                          $1,000,000

      To Discount on common stock     $30,000

      To Paid in capital                            $970,000

The calculation of bonds payable, common stock is below:-

For bonds payable            

= 2,000 × $1,000

= $2,000,000

For common stock

= 2,000 × 50 × $10

= $1,000,000

For paid in capital

= $2,000,000 - ($1,000,000 - $30,000)

= $970,000

4 0
3 years ago
Other questions:
  • For every 20 minutes that jack spends on his homework, he spends 40 minutes at hockey practice. what is the ratio of the amount
    10·1 answer
  • Why do managers of financial institutions care so much about the activities of the Central <br>Bank​
    8·1 answer
  • What are the difference classifications for deposit account
    12·1 answer
  • The supply and demand curves reflect data for a specific brand of sunglasses. Which circumstance can explains the shift of the d
    10·1 answer
  • As a store manager, Leah has to play the role of negotiator, such as purchasing products at a fair price for her company. As she
    12·1 answer
  • On behalf of Bobble Head Manufacturing Company, Carmela types her name at the bottom of an e-mail purchase order and submits the
    13·1 answer
  • Ayuda por favor, el que no sabe no responda o los reporto.​
    6·1 answer
  • : Identify your top four work values. Work values are the elements of
    10·1 answer
  • Reg has just purchased a new car. The car had a list price of $22,499, and he was responsible for 7. 96% sales tax, a $2,138 veh
    10·1 answer
  • This video speeds through over 10 common mistakes people make that leave them open to identity theft. list at least 5 of them he
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!