Adjusted Fair Market
Cash $200,000 $200,000
Inventory 165,000 150,000
Equipment 210,000 250,000
Land 430,000 400,000
a. What gain or loss would Black Corporation recognize if it distributes the cash, inventory, and equipment to Sam and the land to Susan?
b. What gain or loss would Black Corporation recognize if it distributes the cash and land to Sam and the inventory and equipment to Susan?
- Sent to Accounting Expert Tutor on 5/7/2010 at 8:34am
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