Mary and Todd

8:14 al LTE ACCT 540 A3 Both Mary and Todd receive a 50% interest in the corporate stock Complete the following Mary Tedd Realized gain Recognized gain Basis of Stock MT basis in contributed asset VARIATION 1: In addition to Mary and Todd, Karla joins the corporation at its inception. Karla will provide services to the corporation in exchange for a 25% interest in the stock. That is, she receives 25% of the outstanding shares. Does anything change? Why or why not? CHECK THE BOOK AS A SOURCE VARIATION 2: return to original facts (no Karla). Todd's property is valued at $700,000 but is contributed subject to a $200,000 liability. Complete the following Mary Todd Realized gain Recognized gain Basis of