Answer:
$21000
Explanation:
To determine Gray’s tax basis for a 50% interest in the Fabco Partnership, The interest is increased by the partner’s distributive share of all partnership items of income and decreased by the partner’s distributive share of all loss and deduction items.
Gray’s beginning basis = $5,000
Gray’s 50% distributive share of ordinary income = 50% × $20000 = $10000
Gray’s 50% tax-exempt income= 50% × $8000 = $4,000 and
portfolio income = 50% × $4000 = $2,000
Therefore, the ending basis of Gray’s Fabco partnership interest = $5000 + $10000 + $4000 + $2000 = $21000
Answer:
d. $141,000
Explanation:
As the following information is given
Purchase of raw material = $165,000
Beginning Raw material balance = $22,000
Completed direct material = $141,000
Completed indirect material = $13,000
Since the work in progress includes only direct material i.e $141,000 as indirect material is allocated to the overhead account. Therefore, only $141,000 of raw material is transferred to work in process account
So other information which is mentioned is ignored
Under free market conditions, the relationship between the quantity of medical services demanded and the price of medical services is:(D.) Inverse
What are free market conditions?
The relationship between quantity demanded and price normally, where the market forces are left to determine the happenings in the market, is inverse, in that as the quantity demanded increases prices decrease.
In the same vein, the relationship between the quantity of medical services demanded and the price of medical services, is also inverse which means that the amounts charged by doctors for medical treatment reduces, there would be more patients, since the cost is now cheaper which discourages people to seek alternative medicine.
Find out more about demand-price relationship on:brainly.com/question/26264326
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Full question:
Under free market conditions, the relationship between the quantity of medical services demanded and the price of medical services is:
A. Unknown
B. Equal
C. Direct
D. Inverse
Answer:
A.true hope this helps sorry if I'm wrong have a wonderful day
Answer:
Explanation:
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:
