Answer:
$102,000
Explanation:
According to 26 US code Section 704(c) - Partner's distributive share :
Taxable gain to be recognized from sale = Sale value - ( Partner's share * Fair market value )
Brooke contributed the land, the gain realized before the land was contributed = $120,000 - $90,000 will be allocated entirely to her. She will also be allocated 40% of the gain after the contribution was made = ($150,000 - $120,000) x 40% = $30,000 x 40% = $12,000.
So the total gain recognized by Brooke will be $90,000 + $12,000 = $102,000.
Partnerships are pass through entities, the partners are taxed, not the partnership itself.
Answer:
since the price elasticity of demand for students is -4, the the price charged to them should be:
price = [-4 / (-4 + 1)] x $6 = (-4 / -3) x $6 = $8
since the price elasticity of demand for faculty is -2, the the price charged to them should be:
price = [-2 / (-2 + 1)] x $6 = (-2 / -1) x $6 = $12
Answer:
6,000
Explanation:
The computation of the total administrative expense allocated to the Meats department is shown below:
= (Total administrative expenses ÷ total square feet) × meat square feet
= ($15,000 ÷ 3,000) × 1,200
= 6,000
We simply do the proportion based on the meats department by dividing the total square feet
All other information which is given in the question is not considered. Hence, ignored it
Answer: $68,000
Explanation:
If the inventory that remains is the $46,000 then that means that the cars costing $33,000 and $24,000 have been sold.
With specific identification, the actual prices of the stock are used so the cost of goods sold is:
= 24,000 + 33,000
= $57,000
The gross profit is therefore:
= Sales - Cost of goods sold
= 125,000 - 57,000
= $68,000
Answer:
b. Herfindahl-Hirschman index
Explanation:
Option b. Herfindahl-Hirschman index
The HHI is calculated by taking the square of the market share and then adding all the squared values. Thus, the resulting answer will be the HHI magnitude.
