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Katen [24]
3 years ago
7

Tristan transfers property with a tax basis of $1,255 and a fair market value of $1,570 to a corporation in exchange for stock w

ith a fair market value of $1,255 and $276 in cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $39 on the property transferred. What is the corporation's tax basis in the property received in the exchange
Business
1 answer:
AlladinOne [14]3 years ago
4 0

Answer: $1531

Explanation:

The corporation's tax basis in the property received in the exchange will be the addition of Tristan's Tax basis and the gain that's recognized on exchange by Tristan.

The gain realized will be:

= $1,570 - $1,255

= $315

Boot received = $276

Therefore, lower of $315 or $276 is $276.

The corporation's tax basis in the property received will then be:

= $1255 + $276

= $1531

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Answer:

attached table

Explanation:

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5 0
3 years ago
Miller Fruit wants to expand its citrus grove operations. The firm estimates that it needs $8.6 million to buy land and establis
sergeinik [125]

Answer:

2.072 rights

Explanation:

Amount needed to buy the land = $8.6 million = $8,600,000

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Market price per share = $34.80

subscription price = $33 a share

Now,

Number shares to be issued = ( Amount needed ) ÷ ( subscription price )

= $8,600,000 ÷ $33

= 260606.06 shares

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= ( stock outstanding ) ÷ ( Number shares to be issued  )

= 540,000 ÷ 260606.06

= 2.072 rights

3 0
3 years ago
ill, a manager in healthcare, is leveraging marketing strategies and tactics that will alter or create behaviors that have a pos
Veseljchak [2.6K]

Answer:

The correct answer is the option A: social marketing.  

Explanation:

To begin with, the concept called <em>''social marketing''</em>, in the world of business, refers to the process of implementing the marketing mix strategies to the organization with the purpose of focusing and caring about the good of the community as a whole. Moreover, it also benefits the company due to the fact that it shows a great corporate social responsibility. Furthermore, it aims to influence behaviors that benefit individuals and societies for the greater social good.

7 0
3 years ago
The accounts used by a business can be kept on pages or cards, which are kept together in a book or file called a(n) ___________
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The accounts used by a business can be kept on pages or cards, which are kept together in a book or file called .. Ledger.
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3 years ago
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Llana [10]

Answer:

4%

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Property tax rate=4%

8 0
3 years ago
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