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  3. (3 points) four friends plan to form a corporation

(3 points) Four friends plan to form a corporation for the purpose of constructing a...

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Accounting

(3 points) Four friends plan to form a corporation for the purpose of constructing a
shopping center. Sheldon will contribute the land for the project and wants more
security than shareholder status provides. He is very smart and has been preparing
his parents' tax return for years, so he has come up with a few possible ways to
structure the incorporation to receive that security he desires: 1) receive corporate
bonds for his land; or 2) take out a mortgage on the land before transferring it to
the corporation. Comment on Sheldon's proposed structures and provide him with
an alternative.
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