1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Reptile [31]
3 years ago
6

Randolph is a 30 percent partner in the RD Partnership. On January 1, RD distributes $15,000 cash and inventory with a fair valu

e of $20,000 (inside basis of $10,000) to Randolph in complete liquidation of his interest. RD has no liabilities at the date of the distribution. Randolph's basis in his RD Partnership interest is $27,000. What is the amount and character of Randolph's gain or loss on the distribution?
Business
1 answer:
Naya [18.7K]3 years ago
7 0

Answer:

$2,000 capital loss

Explanation:

Randolph recognizes a $2,000 capital loss because RD distributes only cash and inventory and the adjusted bases of the property distributed is less than his basis in RD.

You might be interested in
____ refers to experimenting with work first and then deciding on a path instead of doing all the ethical considering up front.
Vlad1618 [11]
The answer to this question is Millenial
Millenials refers to the group of people that enter adulthood in early 21st centuries. This group of people tend to seek work-life balance in choosing their careers, which led many of them to job-hopping from one place to another if they feel that the workplace is not suitable/ideal for their ethical and values.
4 0
2 years ago
On April 1, the company retained an attorney for a flat monthly fee of $2,000. Payment for April legal services was made by the
olga55 [171]

Answer:

                                       Journal Entries

Date         Account Titles and Explanation      Debit       Credit

April 30   Salaries expenses                             $4,800

                 ($12,000/5) * 2

                        Salaries payable                                         $4,800

                  (To record the Accrual of salaries expense)

May 30      Salaries Expenses

                   ($12,000/5)*3                                   $7,200

                   Salaries payable                              $4,800

                           Cash                                                           $12,000

                    (To record the payment of salaries expenses)

6 0
3 years ago
Which tech company is named after a very large number
nlexa [21]

Answer:

Gogle, which was derived from a misspelling of Page's original planned name,  (a mathematical term for the number one followed by 100 zeroes).

Explanation:

6 0
2 years ago
Read 2 more answers
One advantage of increasing your own responsibilities is that you
lara31 [8.8K]
The answer is: A - have more control.
3 0
2 years ago
Read 2 more answers
Based on the specificity and reversibility principle, training during the off-season should?
likoan [24]

Answer:

Off-season training should be focused on building general strength and conditioning in activities that are similar to the sport an athlete. According to the principle of specificity and reversibility, specificity states that the change in physical nature of the body is in line with the training type performed. Reversibility explains how an athlete can lose the effects gained from training from he stops training. Thus to stay fit, off-season training must concentrate on exercises that keeps the body in shape for the same type of sports.

Explanation:

6 0
3 years ago
Other questions:
  • Marshland Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information i
    10·1 answer
  • Regardless of how departments like​ accounting, engineering,​ finance, and marketing function in an​ organization, they are all
    14·1 answer
  • How to make demon children
    13·2 answers
  • In the Keynesian-cross analysis, if the consumption function is given by C = 20 + 0.7 (Y – T), and planned investment is 100, G
    5·1 answer
  • How has persuasion changed in the digital age?
    7·1 answer
  • Compute the payback period for a project that requires an initial outlay of $297,771 that is expected to generate $40,000 per ye
    6·1 answer
  • Match the different account heads to the two aspects of business.
    15·1 answer
  • Sales $3,400,000 $2,100,000 Contribution margin $1,500,000 $900,000 Divisional segment margin $1,000,000 $300,000 Net operating
    7·1 answer
  • In what way are mutual funds similar to common stocks
    11·1 answer
  • Brady Company entered into these transactions during May 2022, its first month of operations.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!