Question 9 of 15. Maribel converted her sole proprietorship to an S corporation and transferred several...

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Question 9 of 15. Maribel converted her sole proprietorship to an S corporation and transferred several assets to the corporation. The assets cost $20,000 and had an adjusted basis of $8,500. She also spent an additional $1,100 to make the conversion to an S corporation. What is her beginning basis in the S corporation? XO $8,500 $9,600 $20,000 $21,100 20,000 Mark for follow up 8.500 28, 500 1100 Question 8 of 15. Which of these shareholder-employees seems to be receiving reasonable compensation for their full-time position running the S corporation on a daily basis? O Anu is one of five shareholder-employees of Procol Harum, a clothing boutique formed as an S corporation, that makes $465,000 a year. She pays herself a salary of $15,000 for her full-time position running the company on a daily basis. Desna is the only shareholder-employee of Manatee Nail Salon, an S corporation that makes $245,000 a year. She paid herself a salary of $65,000, which is comparable to other employees in her field of work. Fiona is a shareholder-employee of Buskers Bagels, an S corporation, that makes $99,000 a year. She pays herself a salary of $6,600. Judee is a dermatologist who owns the Skin Tight Clinic, an S corporation, with three other shareholders. The clinic makes $995,000 a year. She pays herself a salary of $50,000. Comparable dermatologist salaries range from $260,000 to $470,000. Mark for follow up Question 9 of 15. Maribel converted her sole proprietorship to an S corporation and transferred several assets to the corporation. The assets cost $20,000 and had an adjusted basis of $8,500. She also spent an additional $1,100 to make the conversion to an S corporation. What is her beginning basis in the S corporation? XO $8,500 $9,600 $20,000 $21,100 20,000 Mark for follow up 8.500 28, 500 1100 Question 8 of 15. Which of these shareholder-employees seems to be receiving reasonable compensation for their full-time position running the S corporation on a daily basis? O Anu is one of five shareholder-employees of Procol Harum, a clothing boutique formed as an S corporation, that makes $465,000 a year. She pays herself a salary of $15,000 for her full-time position running the company on a daily basis. Desna is the only shareholder-employee of Manatee Nail Salon, an S corporation that makes $245,000 a year. She paid herself a salary of $65,000, which is comparable to other employees in her field of work. Fiona is a shareholder-employee of Buskers Bagels, an S corporation, that makes $99,000 a year. She pays herself a salary of $6,600. Judee is a dermatologist who owns the Skin Tight Clinic, an S corporation, with three other shareholders. The clinic makes $995,000 a year. She pays herself a salary of $50,000. Comparable dermatologist salaries range from $260,000 to $470,000. Mark for follow up