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Mountain Corporation forms Hill Corporation, and acquires Mound Corporation by merging Mound into Hill Corporation, with the former Mound Corporation shareholders receiving solely voting stock of Mountain Corporation.

a. What type of reorganization has taken place? Describe the tax consequences to Mound Corporation, its former shareholders, and Mountain Corporation.

b. How would your answers change if the former Mound shareholders instead received only nonvoting stock of Mountain Corporation?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M973971

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