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stiv31 [10]
3 years ago
12

Brian is a 25% partner in the BC Partnership. On January 1, BC distributes $20,000 cash and land with a $16,000 fair value (insi

de basis $8,000) to Brian. BC has no liabilities at the date of the distribution. Brian's basis in his BC partnership interest is $16,000. What is the amount and character of Brian's gain or loss on the distribution?
Business
1 answer:
pentagon [3]3 years ago
6 0

Answer:

The amount is $4,000 and Brain character reflects the capital gain.

Explanation:

Partnership: In partnership, there are two or more partners who are ready to share the profit or losses in their profit-loss sharing ratio.

The computation is shown below:

= Brain's basis - the inside basis

= $16,000 - ($20,000 - $8,000)

Since the brain basis show excess amount than inside basis which reflects the capital gain .

The inside basis is not relevant in the computation part. Hence, it is ignored.  

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Hayden, a buyer for a medium-sized company, is assessing the value of competing software products for use in his firm. Which of
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Answer: A. Speech of delivery

Explanation:

When buying things like software, there are certain things that will determine the value apart from the monetary price. These include the ease of installation and the availability of training assistance.

With ease of installation, the fundamental question is if the software is easy or complicated to install. The easier it is the better. Also is there someone who can help the users be able to master the features of the software. This is availability of training assistance.

Now while speech of delivery can help in convincing Hayden to buy from a particular shop, it does not contribute to the value of the software.

6 0
3 years ago
Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Michael Mirer worked for Dawson Company for six months t
lisov135 [29]

Answer:

$83.4

Explanation:

Under FUTA, only the first $7000 earning per year will be taxed. Any amounts above $7000 will be tax-exempt.

For Michael, the tax will be calculated as follows.

for the$11200 earned in Dawson company

=0.6% x $7000

=0.06/100 x 7000

=0.006 x 7000

=$42

Amount earned working at McBribe

=0.06% x 6900

=0.006 x $6900

=$41.4

Total to be paid by the two companies

=$42 + $ 41.4

=$83.4

5 0
3 years ago
An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Vaugh
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Answer:

Beginning Raw material Inventory = Direct materials used - Raw Materials purchases + Ending raw materials inventory

= 188,420 - 159,120 + 22,610

= $‭51,910‬

Total cost of work in process = Cost of goods manufactured + Work in process (12/31)

= 544,240 + 83,230

= $627,470

Total Manufacturing costs = Total cost of work in process - Work in process (1/1)

= 627,470  - 220,940

= $406,530

Direct labor = Total Manufacturing costs - Total overhead - Direct materials used

= 406,530 - 139,320 - 188,420

= $78,790

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3 years ago
It is said that there are a number of steps in designing an effective service system which include a) Establishing procedures to
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Answer is in a file below

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3 years ago
At​ ch2m hill, dan​ anderson, planning project​ manager, suggests that in a flat structure like​ theirs, at times project manage
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The style of leadership that most directly aligned with this behavior is SUPPORTIVE.
A supportive leadership style is one which seeks to reduce the employees' stress and frustration at the work place by motivating them. This style is especially effective, if the type of work that the employees are undertaking is stressful, dangerous and tasking. 
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