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Allie forms Broadbill Corporation by transferring land (basis of $125,000, fair market value of $775,000), which is subject to a mortgage of $375,000. One month prior to incorporating Broadbill, Allie borrows $100,000 for personal reasons and gives the lender a second mortgage on the land. Broadbill Corporation issues stock worth $300,000 to Allie and assumes the mortgages on the land.
a. What are the tax consequences to Allie and to Broadbill Corporation?
b. How would the tax consequences to Allie differ if she had not borrowed the $100,000
Post a brief statement that summarizes the topic argument of capital punishment, the type of argument that is being used and the sources that you are using to support your claims.
Artifacts of our own cultures surround us. From art and music to architecture and literature, from philosophy and religion to laws and economics, we live among cultural artifacts that have deep roots.
Tish entered into a contract with Michelle, in which Michelle would redecorate Tish's bedroom to incorporate more lighting and pastel colors. The contract provided that Michelle would perform the duties in a "satisfactory and timely manner." When the..
What can diversity provide to your work environment? How can you, as a manager, create and sustain a diversified and productive environment? How might you handle diversity-related conflicts in your work environment?
Kant believes that, as long as we have some good reasons, it is legitimate for each of us to come up with different "categorical imperatives" that are valid for us.
We defined ethical behavior as behavior that is consistent with the principles, norms, and standards of business practice that have been agreed upon by society. What happens if society hasn't agreed (as when new technologies come on the scene).
Why do US consumers have or do not haveâ?"a â??right to know whether a food contains an ingredient derived from rDNA techniques.
Noticing that his heart was pounding and that his palms were sweaty while he was taking a difficult test, Harley concluded that he was anxious.
Describe Atkinson -shiffrins classic three- stage processing model of memory, and exlain how the contemporary model of working memory differs. psychology
Which of the following is true regarding service?
You are a new health services administrator at Good-Patient Hospital located on the east coast of Florida. Upon reviewing different aspects of the facility, you realize that there is no facility disaster management plan in place.
Critically discuss the pros and cons for restructering. Discuss the preconditions to allow such restructuring and what are the obstacles expected?
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