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dybincka [34]
3 years ago
7

On November 1, Ashton sells her interest in XYZ partnership to Wayne for $200,000 cash and a release of liability of $30,000. As

hton’s basis at the beginning of the year was $125,000 (including the $30,000 of liability). Ashton’s share of income through November 1 was $45,000, and she received a $15,000 cash distribution earlier in the year. What are the tax consequences to Ashton of the sale of her partnership interest?
Business
1 answer:
polet [3.4K]3 years ago
3 0

Answer:

$75,000 capital gain

Explanation:

Ashton’s basis at sales = Beginning basis + Share of income - Sash distribution = $125,000 + $45,000 - $15,000 = $155,000.

Capital gains (loss) = Sales proceed + Liability - Basis at sales = $200,000 + $30,000 - $155,000 = $75,000 gain.

Therefore, t he tax consequences to Ashton of the sale of her partnership interest is a capital gain of $75,000.

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Answer:

Explanation:Answer:

The balance amount owned in six months is $ 46.8

Explanation:

Given as :

The price of new shoes = $85

The amount paid for the shoes  = $ 40

The balance amount for the shoes = $85 - $40 = $ 45

The rate of interest = 8%  

the time period = 6 months = 0.5 years

From simple method

Simple interest =  

or, Simple interest =  

Or, Simple interest =  = $1.8

So, Amount = Principal + Interest

or, Amount = $45 + $1.8 = $ 46.8

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2 years ago
The classical view of the economy holds that transitions to full employment are relatively quick.1. Under what condition(s) can
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Answer:

1. Under what condition(s) can an economy make a relatively quick and easy transition to full-employment level of output?

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When a demand shock occurs, and the aggregate demand curve shifts to the right, the aggregate supply curve will also shift. At this point, suppliers will need to hire more employees and fast since they cannot keep up with the demand. The problem is that in real life, demand shocks are sudden only in theory, no one will wake up tomorrow having twice the money and willing to spend it all immediately.

Classical economics work on the long run, but the problem is that the long run is not a definite point in time. We might actually never live to see the long run occur.

2. What condition(s) would keep an economy from moving back to full employment quickly and easily?

Shifts in the aggregate demand curve never occur from one day to another, they are gradual and take time. In real life, unless you suddenly win the lottery, the amount of goods that you purchase is generally stable. It will increase or decrease over time but not abruptly. Since sudden demand shocks do not occur in real life, neither do sudden shifts in the employment level. That is why the government issues monthly unemployment data, and you analyze the trends over several months or even years.

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Some industries’ competition is much more intense than others. Retail grocery stores such as Kroger, Safeway, and Albertson’s in
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Answer:

rivalry among existing competitors

Explanation:

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