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Mariana [72]
3 years ago
15

Sue and Andrew form SA general partnership. Each person receives an equal interest in the newly created partnership. Sue contrib

utes $16,000 of cash and land with a FMV of $61,000. Her basis in the land is $26,000. Andrew contributes equipment with a FMV of $18,000 and a building with a FMV of $39,000. His basis in the equipment is $14,000, and his basis in the building is $26,000. How much gain must the SA general partnership recognize on the transfer of these assets from Sue and Andrew?
Business
1 answer:
brilliants [131]3 years ago
5 0

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Martin transfers real estate with an adjusted basis of $260,000 and fair market value of $350,000 to a newly formed corporation
katrin [286]

Answer:

$40,000

Explanation:

We can calculate recognized gain on the transfer and basis for his stock just by deducting adjusted basis value from liability on the transfered real estate.

Calcuation

iability on the transfered real estate        $300,000

less: adjusted basis value                       ($260,000)

Gain recognized                                        $40,000

3 0
3 years ago
Read 2 more answers
Settings alzania produces and consumes​ 500,000 tons of cotton during a year. Reports indicate that​ alzania's neighbor, which a
UkoKoshka [18]

Answer: C- Alzania's neighbor exported half its production of cotton that year

Explanation: Alzania produces and consumes​ 500,000 tons of cotton during a year. While, the neighbor which also employs the same number of people in the cotton​ industry, consumed​ 400,000 tons of cotton. There is no information on production of the neighbor. Just by looking at the consumption units we can argue that Alzania has an absolute advantage over the neighbor as it consumes more. However, if there is any information on the amount of exports of cotton from the neighbor then it will weaken the absolute advantage conclusion.

Thus, if <em>Alzania's neighbor exported half its production of cotton that year </em>the total production of cotton is greater of the neighbor than Alzania.

6 0
3 years ago
Public saving is negative when:A. there is a government budget surplus.B. there is a government budget deficit.C. the government
m_a_m_a [10]

Answer: Option (B) is correct.

Explanation:

Public saving refers to the tax revenue amount that a government left with after paying for its expenditure or spending.

Public saving = Tax revenue - Spending

Private saving refers to the after tax income of the individuals after paying for their consumption and taxes.

Suppose there is a government budget deficit, in this situation government's expenditure is greater than government's receipts. This means that tax revenue is not enough to pay out its expenditure.

Therefore, this will lead to negative public savings.

3 0
3 years ago
A customer owns a convertible subordinated debenture, convertible into common at $25 per share. The bond is currently trading at
Dafna1 [17]

Answer:

c:40:1 OR B:32:1

Explanation:

3 0
3 years ago
Organisms exhibiting complex multicellularity are large and have cells/tissues that are not in contact with their environment. S
maxonik [38]

Answer:

Explanation: the question should be, Why is bulk flow a necessary condition of complex multicellularity?

Then here is the answer, Multicellular organisms are that have plenty cells and they have s complex units that makes up their functions and makes them to begin to function as one.

Organisms exhibiting complex multicellularity are big and have cells/tissues that are not usually in contact with their environment. They are have systems that can overcome the limits of diffusion (movement from area of higher concentration to that of lower) must evolve for basic physiologic processes to occur.

7 0
3 years ago
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