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Verdich [7]
2 years ago
7

Antoine transfers property with a tax basis of $535 and a fair market value of $652 to a corporation in exchange for stock with

a fair market value of $555 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $97 on the property transferred. What is Antoine's tax basis in the stock received in the exchange
Business
1 answer:
Dimas [21]2 years ago
8 0

Answer: $438

Explanation:

Antoine's tax basis in the stock received in the exchange will be gotten as the adjusted basis of asset exchanged which will then be decreased by the liability assumed on the property that's transfered. This will be:

= $535 - $97

= $438

Therefore, Antoine's tax basis in the stock received in the exchange is $438.

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Calculate net worth using the following information. Assets Liabilities car - $3,500 car loan - $3,000 savings account - $1,000
raketka [301]
Ok, I'm going to tell you how to calculate it and the answer.
so what you do is add up your assets and then add up your liabilities.
then you subtract your liabilities from your assets in this case your assets add up to 4,700 and your liabilities add up to 3,500.
then you subtract 4,700 from 3,500 since your liability is a lower number.
And then your answer would be $1,200 dollars hope it helped :D
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In the process of benchmarking for a variable expense (such as payroll) the typical metrics used are "Total Dollars" and "Dollar
g100num [7]
The answer is false
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3 years ago
Now you must decide who should be on the team. Kelly will be on the team as a matter of course, and you must choose three other
Maurinko [17]

Answer: The best choices would have been Deepak Menon, Ruby Coulbury, and Ethan Atkinson

Explanation:

Team work requires the best of those not only coming to the team with their talent and idea but those who'd be willing to put their everything to make sure the project being carried out is a success, failure to do so would just be having bunch of talented people with no passion but woould rather work for personal gain and fame. Choosing the best shouldn't just be what they can do but also how passionate are they. That's why the best choices would have been Deepak Menon, Ruby Coulbury, and Ethan Atkinson based on their passion accompanied with their talent.

7 0
3 years ago
Which of the following statements about the inclusion of boot in a nontaxable exchange is false? Multiple Choice The purpose of
ankoles [38]

<u>Answer:</u>

<em>The purpose of including boot in a nontaxable exchange is to equalize the adjusted tax bases of the properties exchanged. </em>

<em></em>

<u>Explanation:</u>

A nontaxable exchange is a trade wherein you are not exhausted on any addition, and you cannot deduct any loss. On the off chance that you get property in a "nontaxable business", its premise usually is equivalent to the assumption of the property you moved. A nontaxable increase or misfortune is otherwise called an unrecognized addition or misfortune.

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3 years ago
All _____________must become part of the federal reserve system.
grin007 [14]

All  <u>national banks</u> become part of the federal reserve system.

<h3>What is federal reserve system?</h3>

Federal reserve system is a financial institution that is in charge of regulating and controlling  money in circulation so as create a stable economy that will help to prevent of financial crisis.

National banks are also known as commercial bank and this commercial banks are under  central bank supervision.

Therefore all  <u>national banks</u> become part of the federal reserve system

Learn more about Federal reserve system here:brainly.com/question/1997750

#SPJ1

7 0
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