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Thepotemich [5.8K]
3 years ago
5

Riley is a 50% partner in the RF Partnership and has an outside basis of $56,000 at the end of the year prior to any distributio

ns. On December 31, Riley receives a proportionate operating distribution of $6,000 cash and a parcel of land with a $14,000 fair value and an $8,000 basis to RF. What is Riley's basis in the distributed property?
Business
1 answer:
Savatey [412]3 years ago
5 0

Answer:

The land basis will be $8,000 and partnership basis will be $42,000.

Explanation:

The outside basis at the end of the year is $56,000.

The cash basis is $6,000.

The fair value of land is $14,000.

The land basis to RF is $8000.

The partnership basis will be

=Outside basis-cash basis-land basis

=$(56,000-6,000-8,000)

=$42,000.

So, the land basis will be $8,000 and partnership basis will be $42,000.

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Farah Snack Co has earnings after taxes of $128, 750. Interest expense for the year was $20,000: preferred dividends paid were $
Leto [7]

Answer:

A. $0.90

Explanation:

Earning per share = (Net Income - dividends on preferred stocks)/average outstanding common shares

Particulars                                                               Amount

Earning After Tax                                                       128750

Taxes                                                                       15000

Earning before Tax & Interest Expense               143750

Interest Expense                                                      (20000)

Earning after Interest, but before Tax                       123750

Taxes                                                                       (15000)

Earning after Taxes                                               108750

Preferred Dividends                                               (18750)

Earning available for common stock holders       90000

common stock outstanding                                      100000

Earning per share                                                         0.9

Therefore, The outstanding Earnings per share on the common stock was $0.90

8 0
3 years ago
the contribution margin income statement allows users to easily judge the impact of a change in ______ on profit.
Ne4ueva [31]

The blank space has been correctly filled below:

  • The contribution margin income statement allows users to easily judge the impact of a change in <u>selling price, cost, or volume</u> on profit.

The contribution margin income statement is an evaluation of a former sales period. Entrepreneurs use this procedure to determine whether they made a profit or loss during the period.

After their evaluation, they realize the operating income or net income. The contribution margin is generated using this formula,

Net product revenue - Total variable cost ÷ product revenue.

A proper understanding of the fixed and variable costs is essential to accurately calculate the contribution margin.

Learn more here:

brainly.com/question/24596251

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2 years ago
As rationing mechanisms, prices options: a. are efficient, but long lines are inefficient. b. and long lines are inefficient. c.
valentina_108 [34]

Answer:

a. are efficient, but long lines are inefficient

Explanation:

A rationing mechanism is a system in which who gets how many goods during a shortage is carefully chosen, in order to do these long lines are used even though they are inefficient.

I hope you find this information useful and interesting! Good luck!

4 0
3 years ago
Where did the indestrial revolution starts and why did it beinging there​
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Answer:

it began in 1760. it started there because of the new inventions that were made like the cotton gin, electricity and other inventions. More and more countries got access to these inventions and they became more and more industrialized and urban.

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2 years ago
What are two advantages of the procurement integrated enterprise environment.
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Increasing visibility on all procurement stages. You can get access to the reports, documents, payments, workflows anytime. Data Security.

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