Answer:
Emily’s cost basis in the new building is $900,750.
Explanation:
Cost basis in the new building
= Purchase price of building + legal fees + Cost of interior design
= $895,000 + $450 + $5,300
= $900,750
Therefore, Emily’s cost basis in the new building is $900,750.
Answer:
the possible income from producing an additional item.
Explanation:
hope this helps if not let me know
Answer: the correct answer is a disclosure of $20,000
Explanation:
The annual preferred stock dividend is $15,000 = 3,000 x $100 x 5%. Total dividends in arrears at the end of 20X3 are therefore $20,000 = 2 years x $15,000 - $10,000 paid.
Dividends in arrears are footnoted only. They are not recognized as a liability until they are declared.
Answer:
aren't binding on the limited partners.
Explanation:
A partnership is a form of business ownership where two or more individuals come together to establish a business venture. A partnership may consist of generals and limited partners.
General partners are actively involved in business operations. They manage the day to day activities of the business. Generals partners act on behalf of the business and have unlimited liabilities to the debt of the enterprise.
Limited partners are silent partners. They do not participate in managing the business. A limited partner, as the name suggests, has limited liability to the obligations of the business. Should a general partner take out a loan, a limited partner will be liable to the extent of his or her capital contribution.
