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VashaNatasha [74]
3 years ago
10

Pablo has a $63,000 basis in his partnership interest. On May 9 of the current tax year, the partnership distributes to him, in

a proportionate current distribution, cash of $25,000, cash basis receivables with an inside basis of $0 and a fair market value of $16,000, and land with a basis and fair market value to the partnership of $80,000.
How much is Pablo’s realized and recognized gain on the distribution?

Business
1 answer:
Galina-37 [17]3 years ago
8 0

Answer:

Please see attachment

Explanation:

Please see attachment

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It's not an easy life, but it's a good life! Suppose you decide to take the summer off and sign on as a deck hand for a commerci
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Check the attached file

Explanation:

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3 years ago
Ruth Richter gives a nonprofit entity $25,000 in cash. She tells the entity that it may use the gift for a particular research p
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Answer:

The correct answer is 'Deferred Revenue'.

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3 years ago
Running vertically down the market-product grid, each column represents an opportunity for efficiency in A. A product grouping.
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Explanation:

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4 years ago
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Answer:

$11,400  and $27,600

Explanation:

The computation of the dividend distributed are as follows

Given that

6% noncumulative, nonparticipating, preferred stock = $190,000.

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First we have to paid preferred stockholders and then equity stockholders

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