Hosha exchanges all of her leaf stock for petal stock plus $5,000 cash. the exchange is pursuant to a tax-free reorganization. hosha paid $25,000 for the leaf stock five years ago. the petal stock received by hosha has an $18,000 fair market value. if an amount is zero, enter "0".
a. what is hosha's realized and recognized gain/loss from the reorganization
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Hosha exchanges all of her leaf stock for petal stock plus $5,000 cash. the exchange is pursuant to a tax-free reorganization. hosha paid ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
If Angela's $98,760 home appreciates three percent a year, will she have enough appreciation to try to sell the home for a $15,000 profit in five years?
Answers (1)
Why should a student not eat or drink from laboratory equipment?
Answers (1)
the italian airline alitalia will pay $10 million to United Airlines one year from today. The spot rate is $1.35/E, while the 1-year forward rate is $1.40/E.
Answers (1)
What is the amount of owner's equity for Tom Cotton in the Blue Top Taxi Company? A. $900 C. $2,000 B. $1,100 D. $2,900
Answers (1)
On January 1, 2017, Brenner Company purchased at face value, a $1,000, 6% bond that pays interest on January 1 and July 1. Brenner Company has a calendar year end. The entry for the receipt of interest on July 1, 2017 entails a Select one: a.
Answers (1)
New Questions in Business
An airline company is interested in the opinions of their frequent flyer customers about their proposed new routes. Specifically, they want to know what proportion of them plan to use one of their new hubs in the next 10 months.
Answers (1)
Taylor Bank lends Guarantee Company $92,811 on January 1. Guarantee Company signs a $92,811, 12%, nine-month note. The entry made by Guarantee Company on January 1 to record the proceeds and issuance of the note is
Answers (1)
Why is it important to know the interest rate on your credit card? a) The higher the interest rate, the more money you will be paying back b) The higher the interest rate, the less money you will be paying back c) The lower the interest rate, the
Answers (2)
It is appropriate to use the fixed assets turnover ratio to appraise firms' effectiveness in managing their fixed assets if and only all the firms being compared have the same proportion of fixed assets to total assets. a) trueb) false
Answers (1)
Which of the following actions differentiates an entrepreneur from other small business owners?
Answers (1)