Maurice Tutor

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About Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 1 Day Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 09 Aug 2017 My Price 3.00

assets to a corporation

Jerry transfers two assets to a corporation as part of a Sec. 351 exchange. The first asset has an adjusted basis of $70,000 and a FMV of $50,000. The second asset has an adjusted basis of $70,000 and a FMV of $150,000. The FMV of the stock received is $180,000, and he also receives $20,000 cash. The realized and recognized gain on the second asset is? A) $80,000 realized; $20,000 recognized. B) $80,000 realized; $15,000 recognized. C) $20,000 realized; $10,000 recognized. D) $10,000 realized; $10,000 recognized.

Answers

Maurice Tutor
(5)
Status NEW Posted 09 Aug 2017 10:08 PM My Price 3.00

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