Parent corporation owns 100% of the single class of stock of subsidiary corporation. parent's basis in the subsidiary stock is $500,000 when parent completely liquidates subsidiary corporation within a single tax year. the subsidiary corporation assets have a $700,000 adjusted basis and an $800,000 fmv at liquidation. as a result of the liquidation, parent must recognize a
a) $300,000 gain.
b) $0 gain.
c) $200,000 gain.
d) none of the above1.

The following information is needed to reconcile the cash balance for gourmet catering services. * a deposit of $5,600 is in transit. * outstanding checks total $1,000. * the book balance is $6,400 at february 28, 2019. * the bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent. * the bank balance at february 28, 2019 was $17,410. * a deposit of $400 was credited by the bank for $4,000. * a customer's check for $3,300 was returned for nonsufficient funds. * the bank service charge is $90. what was the adjusted book balance?