Question
laquisha converted her sole proprietorship to an S corporation and transferred several assets to the corporation the asset cost $ 20,000 with adjusted basis of
laquisha converted her sole proprietorship to an S corporation and transferred several assets to the corporation the asset cost $ 20,000 with adjusted basis of $14,700 she also spent an additional $ 750 to make conversion to an s corporation. What is her beginning basis in the S Corporation? A $14700 or B $15,450 or C $20,000 or D $ 20,750
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Financial Accounting
Authors: Michael J. Jones
2nd Edition
1119977150, 978-1119977155
