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Rosa owns 30% of Pine Corporation's stock (basis of $50,000), and the other 70% was recently purchased by Arvid (basis of $620,000). Pine enters into a reorganization with Lodgepole Corporation, in which Rosa will receive a 5% interest (value of $300,000) in Lodgepole and Arvid will receive a 10% interest (value of $600,000) plus assets worth $100,000. Lodgepole's basis in these assets is $60,000. At the time of the reorganization, Pine's value is $1 million, and Lodgepole's value is $6 million.
a. What are Rosa's and Arvid's bases in their new Lodgepole stock?b. What is the amount of gain (loss) recognized by Rosa, Arvid, Pine, and Lodgepole on the reorganization?
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Dougherty Company employs 20 individuals. Eight employees are paid $12 per hour and the rest are salaried employees paid $3,000 a month. How would total costs of personnel b
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准备一个预算showing the quantity of switches to be purchased each month for January, February, and March and in total for the quarter.
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Adjusting Entries: The ledger of Duggan Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared.An
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