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lidiya [134]
3 years ago
13

Franco owns a 60% interest in the Dulera LLC. On December 31 of the current tax year, his basis in the LLC interest is $128,000.

The fair market value of the interest is $140,000. In a proportinate nonliquidating distribution, the LLC distributes $30,000 cash and equipment with an adjusted basis of $5,000 and a fair market value of $8,000 to him on that date. How much is Franco's adjusted basis in the LLC interest after the distribution and what is the amount of his basis in the equipment received?

Business
1 answer:
andreev551 [17]3 years ago
7 0

Answer:

Please see attachment

Explanation:

Please see attachment

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According to recent data, obese patients are less likely than nonobese patients to obtain preventive health services and exams,
Blizzard [7]

The statements that are true based on the obese pations are statements 1 and 2. Henvce Both the first and second statements are true.. Option 2

<h3>What is meant by obesity?</h3>

The delay in receiving medical care has a positive relationship with BMI. 12.7% of participants said they have postponed or cancelled a doctor's appointment because of weight issues.

An important component of treating obesity is increasing physical activity or exercise: Exercise. For those who are obese, 150 minutes a week of moderate-intensity exercise is required to either maintain current weight loss or to stop further weight gain.

Weight gain that is abnormal or excessive and poses a risk to health is what is meant by the terms "overweight" and "obesity." Overweight is defined as a body mass index (BMI) of 25, and obesity as a BMI of greater than 30. Obesity in the United States has dramatically increased in prevalence over the past few decades, leading to a huge public health concern.

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6 0
1 year ago
You are the newly assigned project manager for the James Madison construction project. To what document should you look for auth
Ipatiy [6.2K]

Answer:

The project Charter.

Explanation:

A project charter is a structured, generally short documents that outlines the project as a whole — including what the goals are, how it will be implemented, and who are the stakeholders. It is a crucial ingredient of project planning, since it is used throughout the life cycle of the project.

7 0
3 years ago
Oregon Outfitters issues 1,300 shares of $1 par value common stock at $21 per share. Later in the year, the company decides to r
Molodets [167]

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr, $27,300

(1,300 × $21)  

      To Common Stock $1,300  

       To Paid in capital in excess of par-Common Stock $26,000

(Being issue of common stock is recorded)

2.Treasury stock Dr, $5,000

(250 × $20)

        To Cash  $5,000

(Being repurchase of treasury stock is recorded)

3. Cash Dr, $6,750

(250 × $27)

      To Treasury stock $5,000

(250 × $20)

      To Paid in capital-Treasury stock $1,750

(Being reissue of treasury stock is recorded)

3 0
2 years ago
The following data were reported by a corporation: 20,000 15,000 3,000the number of outstanding shares is:
7nadin3 [17]

Outstanding shares will be 12,000 shares.

These are calculated as follows:

Here the number of shares are as follows;

Authorized shares are 20,000, Issued shares are 15,000, Treasury shares are 3,000

Therefore, the number of outstanding shares can be calculated as follows

Number of outstanding shares = Issued stock- Treasury stock

= 15,000-3,000

= 12,000

Hence the number of outstanding shares is 12,000

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brainly.com/question/17167434

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8 0
1 year ago
The income statement shows the difference between a firm's income and its costs--i.e., its profits--during a specified period of
Aloiza [94]

Answer:

True.

Explanation:

‘Cash Flow Statement’ is one of major financial statement that indicates the inflow and outflow of cash along with the reasons by categorizing each cash transaction in three activities i.e., operating, investing or financing activity. Non-cash transactions are not considered while preparing a cash flow statement.

The cash flow from operating activities is generally more than the net income after taxes.

The cash flow from operating activities includes only the cash transactions relating to the operations of the business. It ignores the non-cash transactions. On the other hand, net income is derived after deducting all the expenses (paid or unpaid) from the revenue earned, pertaining to a particular period.

Example: Depreciation expense is a non-cash transaction. It is treated as follows:

While calculating cash flow from operating activities, depreciation expense is ignored (added back to the net income) as it is a non-cash transaction.

On the other hand, depreciation expense pertaining to the accounting period is deducted from revenue to calculate net income after taxes.

Thus, the cash flow from operations is generally more than the net income after taxes.

5 0
3 years ago
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