Answer:
0 gain ; 72,000 basis
Explanation:
Given that
Outside basis at the end of the year = $112,000
Received a proportionate operating distribution in cash for $40,000
So by considering the above information, the amount of gain or loss is zero as she does not recognized in the distribution and her basis in her partnership interest is the remaining amount i.e
= $112,000 - $40,000
= $72,000
Answer:
I used an excel spreadsheet to calculate this:
the least squares regression line:
y = a + bx
y = $2,937 + 3.96x
where y = total cash wash costs and x = rental returns
fixed costs = $2,937 per month
variable cost = $3.96 per car washed
Wow, That's tough..... I'll help. 1, A. Income. 2, D. Soil. 3, D. Resources. I hope this helped. :)
