sara and tony mother and son from dove corp with the following investments : cash by sara cash of $ 65,000 land by tony basis of $ 25,000 FMV $ 35,000. Dove corp issues 400 shares of stock 200 each to sara and tony. Thus each receives stock in dove worth $ 50,000.<\/p>
a-section 351 should not apply since sara should have received 260 shares instead of only 200<\/p>
b-section 351 may apply because stock need not be issued to sara and tony in proportion to the value of the property transferred<\/p>
c-tonys basis in the stock of dove corp is $ 50,000<\/p>
d-as a result f the transfer tony recognixes a gian of $10,000<\/p>
e-none of above<\/p>", "transcribed_text": "", "related_book": { "title": "Data Analysis And Decision Making", "isbn": "538476125, 978-0538476126", "edition": "4th Edition", "authors": "Christian Albright, Wayne Winston, Christopher Zappe", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/415.jpg", "uri": "\/textbooks\/data-analysis-and-decision-making-4th-edition-415", "see_more_uri": "" }, "free_related_book": { "isbn": "1522530355", "uri": "\/textbooks\/soft-computing-techniques-and-applications-in-mechanical-engineering-1st-edition-978-1522530350-294295", "name": "Soft Computing Techniques And Applications In Mechanical Engineering", "edition": "1st Edition" }, "question_posted": "2024-06-28 08:13:54", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-13", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/for-each-of-the-following-items-relating-to-the-debt", "description": "For each of the following items relating to the debt of Marfa City, indicate whether and how the debt would be reported on a balance sheet of one of the city's governmental funds. 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