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Title: Reba, a cash basis accountant, transfers all of the assets and liabilities of her practice to Able ... Post by: safezone on Feb 14, 2017 Reba, a cash basis accountant, transfers all of the assets and liabilities of her practice to Able Corporation in exchange for all of Able Corporation's stock. The assets include $20,000 of accounts receivable. What is the Corporation's basis in the receivables? Will the corporation be taxed on the receivables, as they are collected?
Title: Re: Reba, a cash basis accountant, transfers all of the assets and liabilities of her practice to ... Post by: strwbrry on Feb 14, 2017 Content hidden
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