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Balsa Corporation distributes land with a fair market value of $75,000 and an adjusted basis...

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Accounting

Balsa Corporation distributes land with a fair market value of $75,000 and an adjusted basis of $25,000. The land is subject to a liability of $30,000. Which is the total effect of the distribution on the E & P of Balsa? (Points : 2) Balsa

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