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AnnZ [28]
4 years ago
14

Calvin purchased a 40% partnership interest for $43,000 in February 2017. His share of partnership income in 2017 was $22,000, i

n 2018 was $25,000, and in 2019 was $12,000. He made no additional contributions to or withdrawals from the partnership. On December 18, 2019, Calvin sold his partnership interest for $103,000. What is his gain or loss on the sale of his partnership interest?
Business
1 answer:
Bess [88]4 years ago
4 0

Answer:

Calvin would have a long-term capital gain of $1000.

Explanation:

Calvin's contributions towards partnership is as below

Beg                                           $43,000

2010 income                            $22,000

2011 income                             $25,000

2010 income                            $12,000

Total  contribution                   $102,000

Total amount Calvin realized by selling his partnership interest = $103,000.

Therefore, Calvin would have a long-term capital gain of $1000 (amount Calvin realized - Calvin's contributions  = $103,000 - $102,000).

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Sensitive data on a gfe mobile device does not need to be encrypted.
ser-zykov [4K]

ANSWER – TRUE

 

Sensitive data on a Government Furnished Equipment (GFE) mobile device does not need to be encrypted. This is because all Government Furnished Equipment (GFE) has encrypted hard drive and all data are automatically encrypted; even after an authorized personnel logs in (locally or remotely), the data remains encrypted.

4 0
3 years ago
Preston, Inc., manufactures wooden shelving units for collecting and sorting mail. The company expects to produce 300 units in J
ZanzabumX [31]

Answer:

Direct material purchase budget for July and August= <u> $10634</u>

Explanation:

T<em>he material purchases budget is determined by adding the the closing stock of materials to the material usage budget and subtracting the opening inventory of materials.</em>

<em>Material purchase budget= Material usage budget + closing inventory - opening inventory</em>

Material budget=

                                               Unit

July  =           300×12       = 3600

August  =       360  ×   12 = <u>4320 </u>                

                                             7920

Closing inventory                 <u>260</u>

                                              8180

cost per unit                        <u>    × $1.30</u>

                                          <u> $10634</u>

Direct material purchase budget for July and August= <u> </u><u>$10634</u>

4 0
3 years ago
Productive inefficiency could arise from a. a waste of available labor b. a lack of resources c. an improvement in technology d.
kolezko [41]

Answer:

The correct answer is a. a waste of available labor.

Explanation:

Productive efficiency (also known as technical efficiency) occurs when the economy is using all its resources efficiently, producing maximum production with minimum resources. The concept is illustrated in the Production Opportunity Frontier (FPP) in which all points of the curve are the points of maximum productive efficiency (that is, no more products can be achieved from the present resources).

This happens when the production of an economic good is achieved at the lowest possible cost, given the production of another good (s). In other words, when it is achieved, given the need to produce other goods, the highest possible productivity of a good. In a situation of long-term equilibrium for markets in perfect competition, it is where the average cost is the base on the average of the total cost curve, that is, the cost curve where CM = A (T) C.

6 0
4 years ago
Being Human, Inc., recently issued new securities to finance a new TV show. The project cost $14.1 million, and the company paid
ioda

Answer:

The company’s target debt-equity ratio is 1.16 : 1

Explanation:

Percentage flotation costs = 1 - (14100000/14100000 + 735000)

                                             = 1 - (14100000/14835000)

                                             = 4.95%

We know that:

(1 + Debt/Equity)*4.95%  = 0.071 + 0.031*(Debt/Equity)(Percentage flotation cost equation)

0.0495 + 0.0495*(Debt/Equity) = 0.071 + 0.031*(Debt / Equity)

0.049545*(Debt/Equity) - 0.031*(Debt/Equity) = 0.071 - 0.0495

0.018545*(Debt/Equity) = 0.021455

Debt/Equity = 0.021455/0.018545

Debt / Equity = 1.16 : 1

Therefore, The company’s target debt-equity ratio is 1.16 : 1

6 0
3 years ago
The substitution effect: a) predicts that taxpayers will work harder to pay for consumer products when tax rates increase. b) is
pychu [463]

Answer:

Option E. None of the choices are correct.

Explanation:

The substitution effect refers to the situation whereby there is a decrease in sales for a particular product due to the fact that consumers are switching to cheaper alternatives when its price rises.

The substitution effect arises purely out of the need for consumers to be frugal. If a producer raises the price of their commodities, some consumers will opt for a cheaper alternative. For example, if beef prices go up, many consumers will switch to chicken.

A manufacturer can also experience the substitution effect when faced with a price hike for an essential raw material needed for production, he/she may switch to cheaper resources.

8 0
3 years ago
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