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

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Aug 2017 My Price 4.00

C Contributes to Z

C Contributes to Z, a newly formed corporation, property worth $400 with a basis of $300 in exchange for 100 shares. D (an employee of C) contributes to Z property worth $100 with a basis of $40 in exchange for 400 shares. a. This is most likely not a good 351. C must recognize gain of $100 and D $50 of gain. b. This is not a good 351 because receipt of stock is disproportionate to teh property contributed c. This is a good 351 transaction. C and D will not recognize gain on the transfers to Z. d. C must have also transferred property to D (an employee after the incorporation). Most likely this would be a transfer of 300 shares. D. gain to C would be $75 e. C and D

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Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 02:08 PM My Price 4.00

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