Answer: See explanation
Explanation:
a. What is Laurel’s initial tax basis in her LLC interest?
This will be the addition of the $250,000 basis for the equipment, accounts payable of $15,000 and also the $15,000 (15% × $100,000). This will be:
= $250,000 + $15,000 + $15,000
= $280,000
b. True.
Laurel’s holding period in the partnership interest begins the day the LLC interest is acquired. This is due to the fact that the asset contributed isn't a section 1232 asset. The reason for this is due to the fact that the asset was used for a year or less.
c. Sand Creek’s initial basis in the contributed property is $250,000.
d. Ten months.
Sand Creek’s holding period in the contributed property will be 10 months.
Answer:
Your answer is D. All of the above
Explanation:
There are 3 branches of government:
-Legislative: Congress makes and passes laws, can declare war, and set the national budget
-Judicial: The federal judges and Supreme Court rule on the Constitutionality of laws
-Executive: The President of the United States heads the exec branch and should enforce the laws passed by congress
Answer: High cultural values and high performance.
Explanation:
The business has been able to create a strong bond between their business performance and their cultural values, The leadership of the organization has been able to steer Camp Bow Wow to a level of high performance and culture in which every decision made is guided by clear cut values in line with the organizational goals and also the employees have a say in the organization which gives them a feel of joint ownership.
High performance coupled with high cultural value helps a business to consistently deliver at top level, get results and consistently achieve more. It is the difference between a growing and a stagnant organization or business.
Answer:
$87,000
Explanation:
Calculation of the conversion cost for November.
Conversion cost can be defined as the combination of both direct labor costs and manufacturing overhead costs that are vital to help convert raw materials into product.
Using this formula
Total Conversion cost = Direct labor cost + Manufacturing overhead cost
Hence,
Direct labor cost $25,000
Add Manufacturing overhead cost $62,000
Total Conversion cost $87,000
Therefore the conversion cost for November is $87,000
