âHastenâ or âspeed upâ, not âfastenâ. If it is a check you wrote on a BofA account to someone else, the issue may be that they have not deposited the check yet. Once deposited, most checks clear in one day as banks use electronic images of the checks, not the actual checks, to clear them.
The transferee. corporation's basis in the property transferred by the transferor in a. Section 351 transaction generally is the same as the transferor's basis, increased by the amount of any gain recognized by the transferor.roup, and the group will own control of Holdco after the transaction. Accordingly, Section 351 will apply to each of A, B, E and F (as to A. and B, the transaction also may qualify as a reorganization under. Section 368(a)(1)(B)).
CIP assets. See construction-in-process assets. clearing account An account used to ensure that both sides of an accounting transaction are recorded. For example, when you purchase an asset, your payables group creates a journal entry to the asset clearing account.IP assets. See construction-in-process assets. clearing account An account used to ensure that both sides of an accounting transaction are recorded. For example, when you purchase an asset, your payables group creates a journal entry to the asset clearing account.