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sergiy2304 [10]
4 years ago
14

Bob contributed a building with an adjusted basis to Bob of $50,000 and a fair market value of $150,000 subject to a mortgage of

$120,000 in exchange for a 30 percent interest in the Alpha Partnership. Alpha will assume the mortgage on the building.
What is Alpha's basis in the building?

a. $0b. $30,000c. $50,000d. $84,000
Business
1 answer:
Gre4nikov [31]4 years ago
6 0

Answer:

Correct option is C.

<u>$50,000</u>

Explanation:

Alpha's basis in the building is equal to the adjusted basis of the building.

30% of $150,000= $50,000

and the Adjusted basis= $50,000(given)

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If you wanted to make sure a company has enough money available to pay its bills, which financial statement would
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D. Cash flow statement

Explanation:

that is the answer

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3 years ago
The listing and selling brokers agree to split a 7% commission fifty-fifty on a $96,900 lot sale. The listing broker is on a 30%
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Answer:

1,187.03

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3 years ago
Suppose there are only two firms that sell smartphones: Flashfone and Pictech. The following payoff matrix shows the profit (in
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Answer:

Flashfone and Pictech

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b. If Pictech prices high, Flashfone will make more profit if it chooses a(high,low)__low____price, and if Pictech prices low, Flashfone will make more profit if it chooses a (high,low) __low____ price.

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Flashfone Pricing High 11, 11        2, 18

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b) A dominant strategy exists if Pictech or Flashfone would implement a particular strategy that benefits it no matter what the other firm does.

3 0
3 years ago
3. State the difference between limited liability and unlimited liability?​
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Limited liability means the business owners' liability for debts is restricted to the amount they put into the business. With unlimited liability, the business owner is personally responsible for any loss the business makes.

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