Answer:
trying to evaluate the situation from all diff perspectives
Answer:
a. Monica is treated as receiving cash distributions of $50,000 ($10,000 cash plus $40,000 relief of liabilities). The distributions reduce Monica's basis to $10,000
b. The inventory takes a carryover basis to Monica of $6,000, and reduces her basis in MIP to $4,000
c. If this is a proportionate liquidating distribution, Monica recognizes a loss of $4,000, and her basis in the inventory will be $6,000. The inventory cannot be "stepped up" to absorb the $10,000 of basis remaining after the distribution. Because Monica has received only cash and inventory, she may claim the loss.
Answer:
20.875
Explanation:
18+24+17+21+24+16+29+18=167/8=20.875
<span>You decide to go to a consumer cooperative to buy supplies for your class party prices are cheaper there mainly because consumer cooperatives are making larger or more purchases. The answer to the given statement is making larger of more purchases.</span>
On FOB terms, the buyer:
1. Pays the cost of the goods, a car in this case.
2. Pays for transportation of the goods.
3. Pays import duties.
4. Pays for insurance.
However, advertising and salaries are general and administrative expenses and thus related to operation expenses and not production expenses.
In this case,
Assigned cost of the used car = 18,000+180+810+140 = $19,130