Should ira follow her friends advice

Assignment Help Financial Accounting

Reference no: EM13126026

"Ira Cook is planning to make a charitable contribution of Crystal Inc. Stock worth 20,000 to Boy Scouts. The stock has adjusted basis of 15,000. A friend has suggested that Ira sell the stock and contribute the 20,000 in proceeds rather than contribute the stock.

a) Should Ira follow the friends advice? Why?.

b)Assume the fair market value is only $13,000. In this case, should Ira follow the friends advice? Why?

c)Rather than make a charitable contribution to the Boy Scouts, Ira is going to make a gift to Nancy, his niece. Advise Ira regarding (a) and (b).

d)Write a letter to Ira regarding whether in (a) he should sell the stock and contribute the cash or contribute the stock. He has informed you that he has purchased the stock six years ago."

Reference no: EM13126026

Questions Cloud

Find the solution to physical chemistry : The solution to physical chemistry, A laser used to read CDs emits red light of wavelength 700 nm. How many photons does the laser emit per second

Can firm claim that average life time is of given value : Finds the average life time for this sample is 970 hour and the standard deviation is 80 hours. Can the firm claim that the average life time is 1000 hours at the 5% level of significance?

Solve the work function problem : The work function for Cu metal is 4.80 eV. If a piece of Cu is bombarded by violet light (λ = 4,000 Å), will electrons be ejected? "YES" or "NO" with supporting argument/calculation.

Compute the issue price of each of the following bonds : $10,000,000 face value, serial bonds repayable in 40 equal semi-annual installments of $500,000, which includes coupon payments and repayment of principal, for 20 years, priced on the market to yield 6% compounded semi-annually. Round your answer ..

Should ira follow her friends advice : A friend has suggested that Ira sell the stock and contribute the 20,000 in proceeds rather than contribute the stock. Should Ira follow her friends advice? Why?. Assume the fair market value is only $13,000. In this case, should Ira follow the fri..

Valencies and syntactic roles and basic phrase : QUIZZIE 1 VALENCIES AND SYNTACTIC ROLES QUIZZIE 2 Basic Phrase Structures

The development of a specific mental disorder : Analyze the factors (both genetic and environmental) contributing to the development of a specific mental disorder (of your choice) and discuss steps that could be taken to reduce the incidence of that disorder. Be sure to focus on prevention, not tr..

Find the covariance between hi and inc : Calculate the mean income class for those individuals with private, employer sponsored insurance. Is this greater than or less than the mean income class for those with private, individually purchased insurance? Any thoughts regarding the compari..

Compute mass mole fraction and avg molecular weight : Calculate mass, mole fraction and avg. molecular weight of air, Calculate the constituent (a) mass, (b) mole fraction (c)average molecular weight of air at 25 degree centigrade, 1 atm, and molar density of all listed gases

User Account

All Pages