1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MAVERICK [17]
3 years ago
9

Joy is a 30 percent partner in the JOM Partnership when she sells her entire interest to Hope for $72,000 cash. At the time of t

he sale, Joy’s basis in JOM is $44,000 (which includes her $6,000 share of JOM liabilities). JOM does not have any hot assets. What is Joy’s gain or loss on the sale of her interest?
Business
1 answer:
dusya [7]3 years ago
5 0

Answer: $34,000

Explanation: The gain or loss of joy on the sale can be computed using following equation :-

Gain or loss = Amount realized on sale + relief on debt - JOM basis

now, putting the values into equation  above we get :-

Gain or loss = $72,000 + $6,000 - $44,000

Gain or loss = $34,000 gain

You might be interested in
Which of the following is not one of the four basic forms of organizational structure?
grigory [225]

Dafuq is this dumb site. This is some bull the verified answers where always wrong like dafuq is the point.


5 0
3 years ago
Read 2 more answers
In addition to compensation, customers expect _____. in other words, they expect fairness in terms of policies, rules and timeli
konstantin123 [22]
The answer to this question is "OUTCOME FAIRNESS". Such as in addition to compensation, the customers expect OUTCOME FAIRNESS. In other words, the customers expect fairness in terms of policies, rules, guidelines, and timeless of the complaint process. Therefore, the answer is the last item in the choices which is outcome fairness.
4 0
3 years ago
Q 6.20: Switzer, Inc. has 8 computers which have been part of the inventory for over two years. Each computer cost $600 and orig
borishaifa [10]

Answer:

$400 .Since inventory is valued at cost or market value(current replacement cost) whichever is lower .

Therefore value of inventory : $400*8=$3200

Explanation:

8 0
4 years ago
Read 2 more answers
Consider the following​ statement: ​"An increase in supply decreases the equilibrium price. The decrease in price increases​ dem
pochemuha

Answer:

The correct answer is option A.

Explanation:

An increase in supply decreases the equilibrium price as the supply curve shifts rightward and intersects the demand curve at a lower point. This decline in the equilibrium price causes the quantity demanded to increase. The demand for the product remains the same.

The statement given in the question is false. A change in demand is caused by a change in other factors while the price of the product remains the same. The change in price affects the quantity demanded.

5 0
4 years ago
In the context of sports, with the recent proliferation of mobile devices and growing connectivity, many people have _____. Mult
CaHeK987 [17]

Answer:

gained the ability to produce and distribute sport content and commentary.

Explanation:

In the context of sports, with the recent proliferation of mobile devices and growing connectivity, many people have gained the ability to produce and distribute sport content and commentary.

4 0
3 years ago
Other questions:
  • Agatha has worked for ten years in the public relations department of a large firm. she has been promoted to several higher payi
    9·1 answer
  • How are issues such as customer theft and spoilage addressed at year-end?
    5·1 answer
  • Hotel clerks, amusement park workers, and travel agents all work in careers found in the _____ career cluster.
    7·2 answers
  • Kangaroo Autos is offering free credit on a new $10,000 car. You pay $1,000 down and then $300 a month for the next 30 months. T
    13·2 answers
  • Bella’s Beauties sells vacuums and shampooers. The vacuums have a unit selling price of $60 and unit variable costs of $20. The
    7·1 answer
  • (Scenario: Sugar Trade in Birdonia) In autarky, suppose that equilibrium sugar price is $100 per ton in Birdonia, a small agricu
    9·1 answer
  • A seller buys an item from a manufacturer for $100 and sells it to a customer for $120. What term describes this extra $20?
    11·1 answer
  • According to the video, what are the goals of window displays? Check all that apply.
    11·2 answers
  • If I Want to be a Child Pycoligest, what would the steps be to become this.​
    14·1 answer
  • Upon beginning her career at Davidson Inc., a small consulting firm, Stephanie Benjamin receives a copy of the firm's organizati
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!