Answer:
Elisha's basis in the partnership interest on December 31 is $339,525
Explanation:
In order to calculate Elisha's basis in the partnership interest on December 31 we would to calculate the following formula as follows:
Elisha’s basis=cash contributes + liability/2 +reported net income/2 + partnership borrowship/2 + partnership obligations/2=
Elisha’s basis= $227,520+ $151,680/2 + $35,550/2 + $23,700/2 + $9,480/2
Elisha’s basis=$339,525
Elisha's basis in the partnership interest on December 31 is $339,525
Answer:
a loss of $3650
Explanation:
Book value at the time of the sale = purchase price - accumulated depreciation
$34,250 - 12,000 = $22,450
the sales price is less than the book price, thus it is sold at a loss
22,450 - 18600 = 3650
<span>A(n) hierarchy consists of one person at the top of the organization and many levels of managers who are responsible to that person.
A hierarchy works like pyramid and tasks are delegated down through the channels. One person is at the top leading and funneling work to be done. The person at the top has the most authority and highest "rank" compared with those at the bottom, who have the lowest. </span>