Answer:
$102,000
Explanation:
According to 26 US code Section 704(c) - Partner's distributive share :
Taxable gain to be recognized from sale = Sale value - ( Partner's share * Fair market value )
Brooke contributed the land, the gain realized before the land was contributed = $120,000 - $90,000 will be allocated entirely to her. She will also be allocated 40% of the gain after the contribution was made = ($150,000 - $120,000) x 40% = $30,000 x 40% = $12,000.
So the total gain recognized by Brooke will be $90,000 + $12,000 = $102,000.
Partnerships are pass through entities, the partners are taxed, not the partnership itself.
Answer:
Jensen company has a contribution margin ratio of 45%. This means that its variable costs are 55% of sales.
This statement is true
Explanation:
Contribution margin ratio is the ratio of contribution to sales. Since the contribution margin ratio is 45%, it implies that variable costs are 55% of sales.
When plumbers from a local union stopped working during negotiations, management hired replacement plumbers so the effects on their business would be lessened. These replacement plumbers are called strikebreakers.
Answer:
today's organizations use more competitive work teams.
Explanation:
U.S. business organizations differ from those a century ago because today's organizations use more competitive work teams. These competitive work teams motivate employees to work harder within the company in order to achieve the organizational goals which will result in various benefits for the workers that manage to help the organization achieve these goals.
Answer and explanation:
The Securities and Exchange Commission or SEC is an independent agency of the United States government. The mission of the SEC is to enforce securities laws as passed by Congress. These laws promote fair, orderly and efficient securities markets, protect investors from abuses, and help maintain a well-functioning economy. The SEC is also responsible for <em>setting accounting and reporting standards for companies whose securities are publicly traded</em>.