Carlos transfers property with a tax basis of $800 and a fair market value of $1,170 to a corporation in exchange for stock with a fair market value of $910 and $97 in cash in a transaction that qualifies for deferral under section 351. the corporation assumed a liability of $163 on the property transferred. what is the corporation's tax basis in the property received in the exchange?

If you miss two payments on a credit card what is generally the penalty

One pound of material is required for each finished unit. the inventory of materials at the end of each month should equal 20% of the following month's production needs. purchases of raw materials for february would be budgeted to be:

Peppy knows a lot about marketing, but not much about the legal or financial aspects of starting a new business. he wants to consult with a lawyer and accountant, but his budget is tight with all of the expenses involved in getting peppy's pizzazzeria up and running. peppy should: trust his basic instincts and try to put it together without the advice of lawyers and accountants. delay talking with a lawyer and accountant until the business has established a positive cash flow for at least one year. immediately hire full-time lawyers and accountants for his staff. consult with a lawyer and accountant even though the budget is tight.