<u>Solution:</u>
1. It is given that capital contribution on year 1 is $120,000. Loss allocation is $40,000. It is equal. Depreciation is allocated on the basis of 80:20. Thus, depreciation expense of $36,000 is allocated as $28,800 and $7,200. They all are added. Therefore, basis on the end of year 1 is $51,200 and $72,800. Income allocation on year 2 is $20,000. Depreciation allocation on year 2 is also allocated same with $57,600. It is $46,080 and $11,520. Therefore, basis on the end of year 2 is $25,120 and $81,280. No losses were suspended for any partner. As there is no loss beyond partner’s tax basis it is not suspended.
2. It is true that the allocations on the agreement of partnership have “economic effect”. Given gains, income or any losses are reflected through their allocation in the balance of capital accounts. Capital balances that are deficit must be restored and capital accounts balance on end should be in accordance with liquidating distributions.
Answer:
guy who is this and what is the cow ate grass and died in the middle of the night
Answer: ( B ) Working for long hours in a sitting position with an incorrect posture
Explanation: What is the most common reason for neck injuries in people working in offices? Working for long hours in a sitting position with an incorrect posture
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It will generally cause your initial monthly payments to be higher! (:
Answer: B and A
Explanation: Economic growth is the increase in the productive capacity of the economy. There will be a decrease in economic growth if more capital per hour is used as a result of the diminishing returns to capital.
Some economies maintain high growth rates despite diminishing returns to capital through the use of enhanced or better technology, coupled with accumulating capital. There are growth in such economies because unlike capital, technology is subject to increasing returns.