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answer Q2 please that highlighted Flores. Lamonica. Stabler. Plunket. & Gannon incorporate their partnership. Each member makes the following contributions to the new corporation. Raiders
answer Q2 please that highlighted
Flores. Lamonica. Stabler. Plunket. & Gannon incorporate their partnership. Each member makes the following contributions to the new corporation. Raiders Q3. Inc. ("Raiders. Inc.): A) Vlores contributes his real estate (basis of $190,064 andVMVof $340,982) for 8,217 shares of Raiders Inc. stock. worth S317.000. The corporation also assumed his $65.330 of business debts. B) Lamonica contributes his copyright (basis ofS220.OOO.FMVof $365.000) for 6.054 shares of Raiders. stock. worth $371.000. and received SZ7.OOO cash. The corporation also assumed Lamonica's $62,000 business mortgage. C) Stabler contributes his motor home (basis of $247,923 FMVof $202,000) for 8,312 sharesof Raiders. Inc. stock. worth $220.000. ibe corporation also gave Stadler a brand new 2018 BMW, worth $154.130. 0) Plunket contributes his for 15.446 shares of Raiders. stock- worth S373,OOO. and received Sl 44.000 cash. E) Gannon contributes his contributes his landscaping services to the corporation (bas's of SD of 568.000). for 5.932 shares of Raiders. inc. stock worth SISS,OOO. The corporation also assumed his $87,000 mortgage, whicn Gannon took In order to pay his past due gambling losses to the MGM Grand Hotel. using the spreadsheet below. calculate the (7 pont5 each): Raiders' basis n the motor nome contributed by Stabler, any bas,s stoa. Stawefs reaozeo e. recognized gains 't any. S' Raiders' basis in the library contributed by Plunkett_ E) basis n his Raiders stDOE
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