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IceJOKER [234]
3 years ago
7

8.Kline and Salomon form the KS Partnership as 50/50 partners. Kline contributes equipment that has a fair market value of $60,0

00 and an adjusted basis of $45,000. In addition, the equipment is subject to a $10,000 loan that KS Partnership is assuming. What amount represents Kline's initial basis in the partnership
Business
1 answer:
mojhsa [17]3 years ago
5 0

Answer: $40,000

Explanation:

Kline brings in equipment that is worth $60,000 but has a basis of $45,000.

The equipment however is subject to a loan of $10,000.

This loan will have to be deducted from the basis. The partnership however is assuming the loan and Kline is only 50% liable in the partnership so Kline's basis will only be affected by half of the loan.

Basis = 45,000 - 5,000

= $40,000

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A store offers two payment plans. Under the installment plan, you pay 25% down and 25% of the purchase price in each of the next
aev [14]

Answer:

a-1. The present value of Plan 1 = $93.08

a-2. The deal 2 which involves paying immediately adn taking the 10% discount is better.

Explanation:

a-1.

The interest rate of 5% is taken as the discount rate to convert future cash flows into the present value.

The First payment plan with installments has a present value of,

Present Value-Plan 1 = 25 + 25/1.05 + 25/1.05² + 25/1.05³ = $93.08

a-2.

The first plan will cost $93.08 in the present value.

The second plan will involve immediate payment and a discount of 10%vwhch makes the present value of plan 2 as $90 (100 - (100*0.1)).

Thus, the second deal or deal involving immediate payment and taking the discount is better.

6 0
3 years ago
Suppose you deposit $2,500 at the end of year 1, nothing at the end of year 2, $750 at the end of year 3, and $1,300 at the end
pantera1 [17]

Answer:212121212212121212ggthdfb b bgf bv f fsbggrb

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Explanation:

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4 0
3 years ago
Which of the following can explain the upward slope of the short-run aggregate supply curve? a. nominal wages are slow to adjust
Goryan [66]

Answer: A - nominal wages are slow to adjust to changing economic conditions 

Explanation:

In the short run, the costs of many of the factors used in the production process are fixed.  For example labours wage is fixed for a number of years because of labour contracts. Also the raw materials used in the production process have long term agreements that fix their prices.

As a result of factors of production been fixed in the short run, when general price level rises and the cost of production remains constant, profit also rises.

Firms take advantage of this rise in price and increase production and the quantity of aggregate supply increases. This is why the short run aggregate supply curve is upward sloping.

7 0
3 years ago
Marilyn Simms died with a $200,000 life insurance policy. Her husband, Jack, was the primary beneficiary and their children, Mim
loris [4]

Answer:

a) $200,000 to Jack

Explanation:

Data provided in the question  

Life insurance policy amount of Marilyn Simms  = $200,000

The primary beneficiary = Jack

The contingent beneficiaries = Their children

Now, the distribution of the policy could be taken by only Jack as he is her husband plus he is also a primary benefit of her life insurance policy,

So, the whole amount i.e $200,000 is distributed to Jack

8 0
3 years ago
The rate of interest agreed upon contractually charged by a lender or promised by a borrower is the​ ________ interest rate. A.
finlep [7]

Answer: The correct answer is d) NOMINAL

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It is the contractual interest rate charged by a lender or promised by the borrower.

3 0
3 years ago
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