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ACC 4020 Slingshot Academy / snaptutorial.com
ACC 4020 Week 2 Assignment 2 Tax Effect
Four years ago Nelson purchased stock in Black
Corporation for 37,000. The stock has a current
value of 5,000. Nelson needs to decide which of
the following alternatives to pursue. Determine
the tax effect of each of the following.
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ACC 4020 Week 2 Assignment 3 Capital Structure
Juan organized Teal Corporation 10 years ago. He
contributed property worth 1 million (basis of
200,000) for 2,000 shares of stock in Teal
(representing 100 ownership). Juan later gave
each of his children, Julie and Rachel, 500
shares of the stock. In the current year, Juan
transfers property worth 400,000 (basis of
150,000) to Teal for 500 more of its shares.
What gain or loss will Juan recognize on the
transfer? Explain.
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ACC 4020 Week 3 Assignment 3 Tax Consequences
Pedro owns 700 of the 1,000 shares outstanding of
Indigo Corporation (earnings and profits of
950,000). Pedro paid 170 per share for the
stock 12 years ago. The remaining stock in Indigo
is owned by unrelated individuals. What are the
tax consequences to Pedro in the following
independent situations?
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ACC 4020 Week 4 Assignment 2 Pink Corporation
Situation 1 Pink Corporation acquired land and
securities in a 351 tax-free exchange in 2011.
on the date of transfer, the land had a basis of
720,000 and a fair market value of 1 million,
and the securities had a basis of 110,000 and a
fair market value of 250,000. Pink Corporation
has two shareholders
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ACC 4020 Week 4 Assignment 3 Distributions and
Liquidation
ACC 4020 Week 4 Assignment 3 Distributions and
Liquidation
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