Determine the basis of stock in the hands of the shareholder in each of the following instances. Assume that the 80% rule is met in all cases. Required: Contribution of property with a basis of $1,000 and an FMV of $1,400. Contribution of property with a basis of $3,000 and an FMV of $3,800. The stockholder also received $500 cash from the corporation as part of the stock transaction. Contribution of property with a basis of $8,200 and an FMV of $12,500. The stockholder also received property with an FMV of $1,700 from the corporation as part of the stock transaction. Contribution of a building with an FMV of $200,000, a mortgage (assumed by the corporation) of $100,000, and a basis of $125,000. Contribution of a building with an FMV of $1,700,000, a mortgage (assumed by the corporation) of $1,000,000, and a basis of $635,000.

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The cutting department of cassel company has the following production and cost data for july. production costs 1. transferred out 12,300 units. beginning work in process $0 2. started 3,900 units that are 60% materials 62,856 complete as to conversion labor 12,622 costs and 100% complete as manufacturing overhead 23,100 to materials at july 31. materials are entered at the beginning of the process. conversion costs are incurred uniformly during the process. determine the equivalent units of production for (1) materials and (2) conversion costs. materials conversion costs total equivalent units of production link to text link to text compute unit costs. (round unit costs to 2 decimal places, e.g. 2.25.) materials $ conversion costs $ link to text link to text prepare a cost reconciliation schedule. (round unit costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 1,225.) cost reconciliation costs accounted for transferred out $ work in process, july 31 materials $ conversion costs total costs $