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During 2016,Mercedes Incorporates Her Accounting Practice

Question 78

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During 2016,Mercedes incorporates her accounting practice.Mercedes is the sole shareholder.The following assets are transferred to the corporation: During 2016,Mercedes incorporates her accounting practice.Mercedes is the sole shareholder.The following assets are transferred to the corporation: ​ What is the corporation's total basis in all of the transferred assets? A) $6,000 B) $7,000 C) $10,000 D) $11,000 E) $13,000 ​
What is the corporation's total basis in all of the transferred assets?


A) $6,000
B) $7,000
C) $10,000
D) $11,000
E) $13,000

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