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LekaFEV [45]
3 years ago
6

Molly is a 30% partner in the MAP Partnership. During the current tax year, the partnership reported ordinary income of $200,000

before payment of guaranteed payments and distributions to partners. The partnership made an ordinary cash distribution of $20,000 to Molly, and paid guaranteed payments to partners Molly, Amber, and Pat of $20,000 each ($60,000 total guaranteed payments). How much will Molly’s adjusted gross income increase as a result of the above items? a. $42,000 b. $60,000 c. $62,000 d. $80,000
Business
1 answer:
loris [4]3 years ago
8 0

Answer:

The answer is: C) $62,000

Explanation:

The partnership had a total ordinary income of $200,000. It made guaranteed payments to its three partners (Molly, Amber and Pat) of $20,000 each ($60,000 in total).

So the partnership adjusted income is reduced to $140,000, out of that amount, 30% belongs to Molly. Molly's share of the partnership adjusted income is $42,000.

Molly's total earnings from the partnership are $62,000 ($20,000 + $42,000)

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Abel was employed as a security guard for Seep Corporation. Abel's job was to guard a fenced-in area and to use force to keep in
snow_tiger [21]

Answer:

B) Seep's is not liable because Abel didn't act within the scope of his employment.

Explanation:

Seep Corporation is only liable for actions made by its employees when they are acting within the scope of their employment and within labor hours. Even though Abel was a security guard whose job was to guard the fence, he was outside his work hours. His work shift is from 8:00 A.M. to 5:00 P.M. and the incident occurred at 11 P.M. which is 6 hours after his shift was over.

8 0
3 years ago
Mike has inherited his father's traditional ira. as beneficiary, he will pay ____ taxes on any money withdrawn.
zloy xaker [14]
The answer would be income taxes. The recipient can pull back the assets and pay the pay charges over a five-year time span. The recipient can make required yearly least disseminations throughout the recipient's measurably decided future, paying pay charges as withdrawals are made. The IRS has an outline with respect to future. This choice could enable a more youthful recipient to spread out the withdrawals and along these lines the income taxes over numerous years; The recipient can make required yearly least dispersions through the span of the decedent's factually decided future, paying wage charges as withdrawals are made.
5 0
3 years ago
Other things the same, when the interest rate rises, people would want to lend Group of answer choices less, making the quantity
Ahat [919]

When there are a shortage of loanable funds and the interest rate rises, the quantity required exceeds the amount supplied, and the interest rate rises.

<h3>What happens if the interest rate in the economy rises?</h3>

Businesses and individuals will cut down on spending as interest rates rise. Earnings will suffer as a result, as will stock values. Consumers and corporations, on the other hand, will boost spending when interest rates have decreased dramatically, leading stock values to climb.

The availability of loanable funds indicates that as the interest rate rises, the amount of savings accessible will rise as well.

As a result, anytime interest rates rise, the economy will see a sudden and unexpected surge in borrowing costs.

Learn more about interest rates:

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4 0
2 years ago
Why are batteries not included in toys?
Nitella [24]
They can be easily swallowed by children and can also be toxic. It sometimes happens that they break and release their contents,contaminating the toys and making them unsafe for further use.

7 0
3 years ago
A bond that pays interest semiannually has a coupon rate of 5.44 percent and a current yield of 4.91 percent. The par value is $
Aleksandr [31]

Answer:

Results are below.

Explanation:

Giving the following information:

Cupon rate= 0.0544/2= 0.0272

YTM= 0.0491/2= 0.02455

The par value is $1,000

<u>We weren't provided with the number of years of the bond. I imagine for 9 years.</u>

<u>To calculate the bond price, we need to use the following formula:</u>

Bond Price​= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]

Bond Price​= 27.2*{[1 - (1.02455^-18)] /0.02455} + [1,000*(1.02455^18)]

Bond Price​= 391.93 + 646.25

Bond Price​= $1,038.18

4 0
3 years ago
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