Answer:
$415,000
Explanation:
Following is the formula for cash flow:
<em>Ending Cash Balance = CFO + CFI + CFF + Beginning Cash Balance</em>
<em>CFO = Cash flow from operating activities</em>
<em>CFI = Cash flow from investing activities</em>
<em>CFF = Cash flow from financing activities</em>
We can easily rearrange the formula to find CFO
<em>Ending Cash Balance - CFI - CFF - Beginning Cash Balance = CFO </em>
<em>or </em>
<em>CFO = Ending Cash Balance - CFI - CFF - Beginning Cash Balance</em>
<u>Solution</u>
<em>CFO = $415,000</em>
How much something cost is it's monetary value.
Answer: A: $0.None of the members recognize gain because their debt relief was not in excess of their bases in their LLC interest prior to any debt relief.
B: $55,000
C: $285,000
D: $625,000 Albee, LLC takes a $135,000 carryover basis in the assets Kevan contributes and a $490,000 basis in the total cash the other two members contributed.
Explanation: check attached file
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