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3 years ago

How do general partnerships and limited partnerships differ?

1 answer:

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While limited partnerships have at least one general partner who controls the company's day-to-day operations and is personally liable for business debts, they also have passive partners called limited partners.

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Partnership XYZ distributed a piece of land in a nonliquidating distribution to Bob, a 50% partner, during the current taxable y

mash [69]

Answer:

Partnership XYZ

Item Amount

1. Partnership XYZ's recognized gain (loss) $130,000

2. Bob's taxable gain (income) $65,000

3. Bob's basis in the property $90,000

4. Bob's basis in the partnership $105,000

Explanation:

a) Data and Calculations:

Bob's partnership interest = 50%

Adjusted basis of land = $50,000

Fair market value (FMV) = $180,000

Bob's basis in the partnership at year end = $40,000

Item Amount

1. Partnership XYZ's recognized gain (loss) $130,000 ($180,000 - $50,000)

2. Bob's taxable gain (income) $65,000 ($130,000 * 50%)

3. Bob's basis in the property $90,000 ($180,000 * 50%)

4. Bob's basis in the partnership $105,000 ($65,000 + $40,000)

5 0

3 years ago

What is buisness studies

Jet001 [13]

Answer:

its a subject ....is a study of economic ,business concepts....

8 0

3 years ago

Read 2 more answers

Discuss the rationale of organizing an industrial strike in resolving employee dispute with the state, focusing on the detriment

Charra [1.4K]

Answer: The answer is provided below.

Explanation:

Strike is a refusal to work organized by body of employees as a way of protesting typically in an attempt to gain concessions from their employer.

Causes of strike include demand for leave with pay, pay increase,health hazards in the workplace, inadequate working tools, excessive working hours; low wages, discrimination, and aggressive behaviour of the managers towards employees.

Eben though there are potential benefits from strikes, like improved labor productivity, better work morale, or lower absenteeism, strike action brings about economic costs which can be high, depending on the duration, number of workers involved and also the divisions affected.

Strikes results in negative impacts on the employees, the employers, their stakeholders, consumers, the government, and the economy.

Furthermore, it also affects the international trade as it can hinder the economic development of a country and create great economic uncertainty especially when the global media continues to share details, videos and images of violence, damage to property and clashes between strikers and security.

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3 years ago

The following information pertains to Ash Co., which prepares its statement of cash flows using the indirect method: Interest pa

Alborosie

Answer:

$30,000

Explanation:

A supplemental disclosure of cash flow information requires that all the cash paid in interest during the period must be disclosed.

In Ash's case:

beginning balance interest payable account $15,000

+ interest expense during the year $20,000

- ending balance interest payable account ($5,000)

supplemental disclosure = $30,000

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3 years ago

What are characteristics of economic growth

NemiM [27]

First you need what a economic growth is, Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.Growth is usually calculated in real terms- i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. The the charactersticts are that you make alot of money. I hope this helps!!

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4 years ago