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2-27 Corporate Formation-Services. This year, F and G decided to organize FG, Inc. They received stock in exchange for the following asset contributions to the
2-27 Corporate Formation-Services. This year, F and G decided to organize FG, Inc. They received stock in exchange for the following asset contributions to the corporation: G Transferor Contributed Market Value Transferor's Basis Shares Received Equipment Cash $50,000 $33,000 50 20,000 20,000 20 2.20 In addition, services were performed in exchange for 30 shares of stock worth $30,000. Compute (1) each transferor's recognized gain or income, (2) each transferor's basis in the stock, and (3) FG's basis in the assets for each of the fol- lowing situations. a. Y performed the services involved in the incorporation of FG. b. Y performed the services two years after F and G made their contributions. C. F performed the services involved in the incorporation of FG. d. G performed the services involved in the incorporation of FG
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