Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. marquis owns 140 shares of stock in an s corporati

Marquis owns 140 shares of stock in an S corporation which he purchased for $85...

60.1K

Verified Solution

Question

Accounting

Marquis owns 140 shares of stock in an S corporation which he purchased for $85 per share. He gave 35 shares to his son, Marcel. He also sold 45 shares to his friend, DeShawn, for $90 a share. What are Marquis, Marcel, and DeShawn's respective bases after those transactions

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A project has annual cash flows of $7,000 for the next 10 years and then $8,000...

Finance
Q

Yasser Arafat, former chairman of the Palestine Liberation Organization (PLO), died in November 2004, after a...

Physics
Q

A piano tuner hears a beat every 1.60 s when listening to a 272.0 Hz tuning...

Physics
Q

On September 1, Duffs Beer Distributor had an inventory of 60 cases of beer at a...

Accounting
Q

a classical C2b Microbe 03a C1 C4 C2a C4b C4a 8 Antigen Antibody

Biology
Q

2 Rectangle M 3 2 N 4 1 O 2 3 P 3 0 MO...

Geometry
Q

Write the Mayan numeral as a Hindu Arabic numeral FI 0 10 11 EEN 3...

Basic Math
Q

For a and b, write an equation in slope-intercept form that meets the given criteria....

Basic Math
Q

There are 3 questions and I will post 3 times because the content is too...

Accounting
Q

Problem 14-52 Economic Value Added (LO 14-4) Biddle Company uses EVA to evaluate the performance...

Accounting
Q

plz help me complete and correct the answer ...

Accounting
Q

After our move to California, we used the money that Scott received from that bad...

Accounting