Evan transferred inventory


Evan transferred inventory to a corporation in a Code Section 351 transaction. His basis in the inventory was $10,000 and its value was $8,000. If he received $2,000 in cash and 100 shares of stock, the resulting bases are?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Evan transferred inventory
Reference No:- TGS0701366

Expected delivery within 24 Hours