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Murphy contributed property with an adjusted basis of $66,000 and fair market value of $80,000 for 80% of the stock of CAN Corporation. Dan rendered
Murphy contributed property with an adjusted basis of $66,000 and fair market value of $80,000 for 80% of the stock of CAN Corporation. Dan rendered services to CAN and received 20% of CAN's stock...
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
22nd Edition
324401841, 978-0-324-6250, 0-324-62509-X, 978-0324401844
