“Your clients‚ Lisa and Matthew‚ are planning to form Lima Corporation. Lisa will contribute $50‚000 cash to Lima for 50 shares of its stock. Matthew will contribute land having a $35‚000 adjusted basis and a $50‚000 FMV for 50 shares of Lima Stock. Lima will borrow additional capital from a bank and then will subdivide and sell the land. Prepare a memorandum‚ compare tax and financial accounting for this transaction.” Memorandum To: Dr. Ulysses Taylor From: Jessica Cain Date: January 26‚ 2015
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(1). The major events of the novel True Grit‚ by Charles Portis. The first major event is the thing that leads to everything else in the novel. The cold blooded murder of the father of Mattie Ross by Tom Chaney‚ in Ft Smith‚ Arkansas. The next major event is Mattie hiring US Marshall Rooster Cogburn to hunt down Chaney and bring him back to Ft Smith to hang for the murder of her father. As it turns out‚ just after she hired Rooster‚ a Texas Ranger shows up in Ft Smith‚ by the name of LaBoeuf
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The Puritan faith varied greatly between its public and private members during the 17th and 18th century. Anne Bradstreet shows the private side of the Puritan faith in her poem and Jonathan Edwards shows the public side of the Puritan faith. Bradstreet was a very successful colonial poet during the mid to late 17th century‚ while Edwards was a Puritan preacher who led the Great Awakening about seventy years after Bradstreet‚ in the 1730s and 1740s. Bradstreet’s poem “Upon the Burning of Our House
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Not So Lonely Crowd”‚ I can honestly say I was a little more enamored with the “Queer Customs” section more than I was with the “The Not So Lonely Crowd” section. While I found “The Not So Lonely Crowd” section to be interesting especially with the Ohio State example as I love sports‚ I just found the “Queer Customs” section to be a lot more interesting for two specific examples that were brought up in the chapter. One was very intriguing and while the other one was very intriguing‚ it made me almost
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One dark vague morning I awoke‚ to rays of sunlight beaming down on my face. I slowly begin to smile as thoughts flowed into me like a river. I jumped up with excitement as I realized we were going to Florida. I grabbed all my bags that I had packed the night before and laid them beside the door. "Ready‚ We should get going before it’s too late." My dad crackled. I smiled and thought to myself‚" I never have been more ready in my entire life!" Alright let’s get going then. I bolted to the car and
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Read more: Violence‚ Dogs‚ Animals‚ To Breed or Not to Breed‚ Life [pic] AP Photo/David Zalubowski A pit bull peers out from the door to its pen in the Denver Animal Shelter. Aug. 20‚ 2007 | When you fall in love with a pit bull‚ you need to be prepared for a lot of abuse from strangers -- a lot of accusations‚ a lot of glares. Walking down the street with my dog‚ Sula‚ cars slow down as they pass. People cross to the other side of the street‚ as if my canine is a convicted killer or I am an
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It’s what decides if you go to hells pit of shangra-la (heaven). There are 6 stages which we call joker cards. The first joker’s card is the carnival of carnage it’s the physical extension of the Dark Carnival. The Carnival of Carnage it is what the name would suggest‚ a traveling mass of
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Ancient Egypt‚ a magnificent civilization‚ but just how did they treat their dead kings? This essay will explain what and why pharaohs became mummified‚ and how they did. The Egyptians believed that a body had to be properly prepared in order to live on in a similar way in the afterlife‚ more importantly‚ they thought the body had to be preserved. The Egyptians embalmed and mummified their dead to preserve them‚ the body needed to be accompanied by its Ba and Ka‚ the person’s dead spirit
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Treadway Tire: Job dissatisfaction and high turnover for the Lima Plant Introduction Treadway Tire case study is all about job dissatisfaction and high turnover rate at Lima Tire Plant. In 2007‚ half of the foreman at the Lima Facility had a turnover. The past ten year this been highest turnover rate for foreman. Ashley Walls the Human Resource Director have concern with high turnover in the Lima Plant. She have major objective for this Lima Plant are cost cutting‚ increase productivity‚ and reducing
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would like to form a new corporation‚ Lima Corporation. Lisa will be exchanging $50‚000 cash in exchange for 50 shares of stock in Lima. Matthew will be contributing land which has a $35‚000 adjusted basis and a $50‚000 FMV‚ also in exchange for 50 shares of stock in Lima. ISSUE: When assets are exchanged for stock and control in a newly formed corporation‚ what are the tax and financial accounting implications of those transactions to Lisa‚ Matthew and Lima Corporation? LAW: 1. IRC Section
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