attachment - Week 2 1. Discussion Question C:21What...

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Week 2 1. Discussion Question C: 2-1  What entities or business forms are available for a new business? Explain the advantages and disadvantagesof each. C: 2-2  Alice and Bill plan to go into business together. They anticipate losses in the first two or three years, which they would like to use to offset income from other sources. They also are concerned about exposing their personal assets to business liabilities. Advise Alice and Bill as to what business form would best meet their needs. C: 2-9  How is “control” defined for purposes of Sec.351(a)? C: 2-21  What are the advantages and disadvantages of using debt in a firm’s capital structure? PROBLEMS C: 2-31  Transfer of Property and Services to a Controlled Corporation. In 2010, Ed, Fran, and George form Jet Corporation. Ed contributes land having a $35,000 FMV purchased as an investment in 2006 for $15,000 in exchange for 35 shares of Jet stock. Fran contributes machinery (Sec. 1231 property) purchased in 2006 and used in her business in exchange for 35
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This note was uploaded on 10/04/2011 for the course ACCOUNTING AC 430 taught by Professor Johndavis during the Spring '09 term at Kaplan University.

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attachment - Week 2 1. Discussion Question C:21What...

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