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Shalnov [3]
3 years ago
15

Riley is a 50% partner in the RF Partnership and has an outside basis of $56,000 at the end of the year prior to any distributio

ns. On December 31, Riley receives a proportionate operating distribution of $6,000 cash and a parcel of land with a $14,000 fair value and an $8,000 basis to RF. What is the amount and character of Riley's recognized gain or loss and what is his basis in his partnership interest?
Business
1 answer:
Anvisha [2.4K]3 years ago
4 0

Answer:

partnership interest $42000 basis

Explanation:

given data

outside basis = $56000

operating distribution = $6000

fair value = $14000

basis to RF = $8000

to find out

partnership interest

solution

we will find  partnership interest by given formula that is

partnership interest = outside basis - operating distribution - basis to RF

put here all these value

partnership interest = outside basis - operating distribution - basis to RF

partnership interest = 56000 - 6000 - 8000

partnership interest = $42000

so here partnership interest $42000 basis

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Answer:

The correct answer is (e)

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Digital currency, such as bitcoin is out of government’s control. Similarly, the market decides their price and that makes them unpredictable. Likewise, the digital money has various problems that make them different and hard to trust on, such as, they can’t be used as means of payment, the unit of account, store of value and standard value. Because fiat money is equipped with all those advantages, which is why people doubt that current forms of digital will replace traditional money.

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Answer:

1. What amounts did Target report for the following items for the year ended January 30, 2016?

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e) Total equity

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2) What was Target’s basic earnings per share for the year ended January 30, 2016?

$4.74 per share

Why do you think Target has chosen to have its fiscal year end on January 30, as opposed to December 31?

I guess that Christmas Holiday season is very important for them and a large percentage of their revenue is generated during November and December. It reports at the end of January to have time to consolidate its financial statements.

3) Regarding Target’s audit report:

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3 years ago
Powerpoint slides can be quite effective and used best when they
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8 0
3 years ago
according to one-period model of macroeconomics which of the following statements is correct about an economy engaging in a war
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Option (b) for a response. In order to keep the expenditure multiplier from exceeding 1, output must increase while consumption must decrease.

<h3>Spending multiplier: What does it tell you?</h3>

An economic indicator of the impact that changes in government spending and investment have on a nation's Gross Domestic Product is the expenditure multiplier, often known as the fiscal multiplier.

<h3>When the multiplier is negative, what does that mean?</h3>

The negative multiplier effect happens when a spending leak or initial withdrawal from the circular flow has further impacts and a larger final decline in real GDP.

<h3>Why does multiplier exceed 1?</h3>

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Learn more about expenditure multiplier: brainly.com/question/28140364

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4 0
1 year ago
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Answer:

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