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kykrilka [37]
3 years ago
6

Daniela is a 25% partner in the JRD Partnership. On January 1, JRD makes a proportionatedistribution of $16,000 cash, inventory

with a $16,000 fair value (inside basis $8,000), and accountsreceivable with a fair value of $8,000 (inside basis of $0) to Daniela. JRD has no liabilities at thedate of the distribution. Daniela's basis in JRD is $21,000. What is Daniela's basis in the distributedinventory and accounts receivable?A)$8,000 inventory, $0 accounts receivable.B)$5,000 inventory, $0 accounts receivable.C)$6,000 inventory, $1,000 accounts receivable.D)$16,000 inventory, $8,000 accounts receivable.
Business
1 answer:
Olenka [21]3 years ago
8 0

Answer: B. $5,000 inventory, $0 accounts receivable

Explanation:

Daniel's basis in JRD is $21,000

Inventory fair value is $16,000

$21,000 - $16,000 = $5,000

Accounts receivable inside basis is $0.

Inside basis is basically each partner's tax basis in the partnership.

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Suppose payments will be made for 7 1/4 years at the end of each month from an ordinary annuity earning interest at the rate of
GaryK [48]

Answer:

The size of the payment = $628.63

Explanation:

<em>An annuity is a series of equal payment or receipt occurring for certain number of period. </em>

The payment in question is an example of an annuity . We can work back the size of the payment using the present value of the ordinary annuity formula stated below

The Present Value of annuity = A × (1- (1+r)^(-n))/r

A- periodic cash flow,= ? r- monthly  rate of interest - 4.25%/12= 0.354%  

n- number of period- (71/4×12)= 87.

Let y represent the size of the payment, so we have

47,000 = y × ( 1-1.00354^(-87))/0.00354

47,000 = y× 74.76

y =47,000/74.7656= 628.63

The size of the payment = $628.63

3 0
3 years ago
Pluto Company owns 100 percent of the capital stock of both Saturn Corporation and Sol Corporation. Saturn purchases merchandise
likoan [24]

Answer:

The amount that should be eliminated from cost of goods sold in the combined income statement for 20X8 is $31,250.

Explanation:

Amount eliminated from cost of goods sold in the combined income statement for year 2008.

saturn purchase merchandise from Venus at 125 % of sol cost.

sol sold inventory to saturn for $ 25,000

Amount should be eliminated from combined income statement

=  $25,000*125/100

= $31,250

Therefore, The amount that should be eliminated from cost of goods sold in the combined income statement for 20X8 is $31,250.

4 0
3 years ago
If a consumer is always indifferent between an additional one grapefruit or an additional two oranges, then when oranges are on
garri49 [273]

Answer: will be straight lines with a slope of -1/2.

Explanation:

An indifference curve simply means the combination of two goods that can give a consumer equal satisfaction, and this makes the consumer indifferent.

It should be noted that along the curve, the consumer will have an equal preference which is for the combinations of the goods that are shown.

If a consumer is always indifferent between an additional one grapefruit or an additional two oranges, then when oranges are on the horizontal axis, then the indifference curves will be straight lines with a slope of -1/2. Here, the fact that the slope is negative

is due to the fact that the curve is downward sloping.

8 0
3 years ago
ICH E6 has broader requirements than FDA or HHS concerning confidentiality of medical records and access by third parties. If in
Soloha48 [4]

Answer:

They must disclose that they are entitled to having access to the medical record of the subject. This is usually disclosed in the form of an informed consent that provides access to the auditor, monitor, regulatory authorities and IRB/IEC. This is usually for verification purposes of the data and procedures used in the research. No confidentiality or data violation issues outside the law may arise by this consent.

Explanation:

6 0
3 years ago
Universal Waste Disposal sold 1,350,000 shares of stock at $24.62 per share. The investment banker's commission was 5% of the va
love history [14]
In total, the money they got was 1.350.000*24.62=33.237.000$ . 5% of it was given to the investment banker; so UWD keeps 95% of it. 95% * 33.237.000= 31.575.150$. The total costs were 1.225.000+450.000+275.000+300.000=2.250.000$
We need to take the difference of these 2 to calculate the net gain. This gain is 29.325.150$ .
4 0
3 years ago
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