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Andreyy89
3 years ago
13

Sharon contributed property to the newly formed QRST Partnership. The property had a $100,000 adjusted basis to Sharon and a $16

0,000 fair market value on the contribution date. The property was also encumbered by a $90,000 nonrecourse debt, which was transferred to the partnership on that date. Sharon is treated as a general partner. She is allocated 30% of QRST's profits, and 20% of QRST's losses. Sharon's basis in the partnership interest after the formation transaction is:
a.$127,000.
b.$28,000.
c.$118,000.
d.$37,000.
e.$88,000.

Business
1 answer:
Flura [38]3 years ago
3 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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they provide incentives for firms to develop technologies that are less polluting.

Explanation:

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When the activity level increases by 15%, net operating income in the flexible budget will ordinarily increase by?
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When the activity level increases by 15%, net operating income in the flexible budget will ordinarily increase by -more than 15% b/c fixed costs do not increase with changes in activity.

<h3>What is Net operating income?</h3>
  • Net income in business and accounting is an entity's revenue less costs, depreciation and amortization, interest, and taxes for a certain accounting period..

  • Net Operating Income, or NOI for short, exists a formula those in real estate use to quickly calculate the profitability of a particular investment. After deducting essential operational costs, NOI calculates the revenue and profitability of investment real estate property.

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Hence,  When the activity level increases by 15%, net operating income in the flexible budget will ordinarily increase by -more than 15% b/c fixed costs do not increase with changes in activity.

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1 year ago
Terry company had january 1 inventory of $100,000 when it adopted dollar-value lifo. during the year, purchases were $600,000 an
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Answer:

Terry's Closing Inventory is $131,360.

Terry's Gross profit is $431,360.

We follow these steps to arrive at the answers:

<u>1. Calculate the base value of closing inventory (CI):</u>

CI_{base value} = \frac{CI*Index at base year}{current price index}

CI_{base value} = \frac{143360*100}{112} =  128,000

<u>2. Calculate additions to inventory at base price</u>

Additions to inventory = CI_{base value} - Beginning inventory

Additions to inventory = 128000 - 100000 = 28,000

<u>3. Calculate the value of additions to inventory at current prices</u>

Additions to inventory_{current Value} = Additions to inventory_{base Value} * \frac{current price index}{base price index}

Additions to inventory_{current Value} = 28,000 * \frac{112}{100} = 31,360

<u>4. Calculate the value of Closing inventory</u>

Closing inventory = Beginning Inventory + Additions to inventory_{current Value}

Closing inventory = 100,000 + 31,360 =  131,360

<u>5. Compute Cost of Goods Sold (COGS):</u>

COGS = Opening Inventory + Purchases - Closing Inventory

COGS = (100000 + 600000 - 131360) = 568640

<u>6. Compute Gross profit</u>

Gross profit = Sales - COGS

Gross profit = 1000000 - 568640 = 431360

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