12 matches Remaining Time: 2 hours, 08 minutes, 28 seconds Question Completion Status: Questions 25-35 are based on the following facts: z Co. adopts a plan of complete liquidation and makes the following pro rata distributions to its shareholders (assume all are individuals and each has a $2,000 basis in the Z Co stock) A Cash $40,000 B Capital Asset FMV $30,000 BASIS $10,000 MORTGAGE $20,000 Capital Asset FMV $50,000 BASIS $10,000 MORTGAGE $80,000 Capital Asset FMV $1,400 BASIS $3,000 (Assume that Z Co. acquired the property distributed to Din a Code Sec. 351 transfer 6 months before adopting a plan of liquidation when the FMV of the property was $1,800 and Z Co.'s basis was $3,000). Inventory FMV $50,000 BASIS $20,000 B's basis in the property received is 1. None of these 2. $10,000 D 3. $20,000 4.$30,000 2 points Sa QUESTION 26 Save Al Answers Save a Click Save and Submit to save and submit. Click Save All Answers to save all answers 21 Content Remaining Time: 2 hours, 08 minutes, 12 seconds. Question Completion Status: QUESTION 26 See Question 25 for the facts. z Co.'s recognized gain or loss on the distribution to Ais 1. ordinary loss 2.535,000 capital gain 3. None of these. 4.0 QUESTION 27 2 See Question 25 for the facts. z Co.'s recognized gain or loss on the distribution to Bis 1.520,000 capital gain 2.0 3. None of these 4.510,000 capital gain Click Save and Submit to save and submit. Click Save All Answers to sow all answers Remaining Time: 2 hours, 08 minutes, 00 seconds. Question Completion Status: QUESTION 28 See Question 25 for the facts. Z Co.'s recognized gain or loss on the distribution to Cis 1.540,000 gain 2.520,000 capital gain 3.570,000 capital gain 4. None of these QUESTION 29 See Question 25 for the facts. z Co.'s recognized gain or loss on the distribution to Dis 1.$400 capital loss 2.0 3. None of these. 4. capital loss Save All Antwer Click Save and Submit to save and submit. Click Save All Answers to save all answers 21 MySJU Robinhood Spotlight - MySJU Content Untitled Content Remaining Time: 2 hours, 07 minutes, 50 seconds. Question Completion Status: QUESTION 30 See Question 25 for the facts. z Co.'s recognized gain or loss on the distribution to Els 1. None of these 2. $30,000 ordinary income 3.0 4.$30,000 capital gain QUESTION 31 See Question 25 for the facts. The gain or loss recognized by Ais 1.0 2.538,000 capital gain 3. capital loss 4. None of these 5 Click Save and Submit to save and submit. Click Save All Answers to save all answers Lo Remaining Time: 2 hours, 07 minutes, 41 seconds. Question Completion Status: QUESTION 32 See Question 25 for the facts. The gain or loss recognized by Bis 1.0 2.58,000 capital gain 3. None of these 4.528,000 capital gain BE QUESTION 33 See Question 25 for the facts. The gain or loss recognized by Cis 1.-532,000 capital loss 2.578,000 capital gain 3.548.000 capital gain 4. None of these Click Saw and submit to sew and submit. Click Save All Answers to swallammers Remaining Time: 2 hours, 07 minutes, 29 seconds. Question Completion Status: QUESTION 34 See Question 25 for the facts. The gain or loss recognized by Dis 1. None of these 2.51,400 capital gain 3.0 4. ordinary loss 2.535,000 capital gain 3. None of these. 4.0 QUESTION 27 2 See Question 25 for the facts. z Co.'s recognized gain or loss on the distribution to Bis 1.520,000 capital gain 2.0 3. None of these 4.510,000 capital gain Click Save and Submit to save and submit. Click Save All Answers to sow all answers Remaining Time: 2 hours, 08 minutes, 00 seconds. Question Completion Status: QUESTION 28 See Question 25 for the facts. Z Co.'s recognized gain or loss on the distribution to Cis 1.540,000 gain 2.520,000 capital gain 3.570,000 capital gain 4. None of these QUESTION 29 See Question 25 for the facts. z Co.'s recognized gain or loss on the distribution to Dis 1.$400 capital loss 2.0 3. None of these. 4. capital loss Save All Antwer Click Save and Submit to save and submit. Click Save All Answers to save all answers 21 MySJU Robinhood Spotlight - MySJU Content Untitled Content Remaining Time: 2 hours, 07 minutes, 50 seconds. Question Completion Status: QUESTION 30 See Question 25 for the facts. z Co.'s recognized gain or loss on the distribution to Els 1. None of these 2. $30,000 ordinary income 3.0 4.$30,000 capital gain QUESTION 31 See Question 25 for the facts. The gain or loss recognized by Ais 1.0 2.538,000 capital gain 3. capital loss 4. None of these 5 Click Save and Submit to save and submit. Click Save All Answers to save all answers Lo Remaining Time: 2 hours, 07 minutes, 41 seconds. Question Completion Status: QUESTION 32 See Question 25 for the facts. The gain or loss recognized by Bis 1.0 2.58,000 capital gain 3. None of these 4.528,000 capital gain BE QUESTION 33 See Question 25 for the facts. The gain or loss recognized by Cis 1.-532,000 capital loss 2.578,000 capital gain 3.548.000 capital gain 4. None of these Click Saw and submit to sew and submit. Click Save All Answers to swallammers Remaining Time: 2 hours, 07 minutes, 29 seconds. Question Completion Status: QUESTION 34 See Question 25 for the facts. The gain or loss recognized by Dis 1. None of these 2.51,400 capital gain 3.0 4.