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    lynglo's Avatar
    lynglo Posts: 1, Reputation: 1
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    #1

    Jul 21, 2015, 04:53 PM
    Accounting question
    Beth purchased 40% of Cerise Corporation for $350,000 six years ago. In the current year, Cerise consolidates with Pink Corporation, and Beth receives 10% of Cerise-Pink stock valued at $500,000 and a $200,000 bond. At the time of the transaction, Cerise held E & P of $600,000 and Pink's E & P was $1.2 million. How should Beth treat this transaction for income tax purposes? What is Beth's basis in her Cerise-Pink stock?
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #2

    Jul 21, 2015, 07:22 PM
    So, how much work have you done, what do you think? We don't do your homework.
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