1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Bond [772]
3 years ago
7

Fred contributes cash of $350,000 to Strumble Partnership for his 50% interest in the partnership. For his 50% interest Gary con

tibutes a building with a fairmarket value of $550,000 and a basis of $250,000. The building is subject to a mortgage of $200,000. Net income for Strumble for 2019 is $100,000, Strumble borrows an additional $50,000 during 2019 and makes a distribution to each partner of $20,000. Assuming that the partners share profits and losses equally what is Gary's basis in his partnership interest at the end of 2019.
Business
1 answer:
n200080 [17]3 years ago
8 0

Answer:

Gary's Basis in the partnership interest is $155,000

Explanation:

Particulars                                                                                Amount ($)

Adjusted Basis Of Land                                                          250000

Mortage*Share In Percentage ($200000*50%)                    (100000)

Additional Borrowing*Share In Percentage ($50000*50%)   (25000)

#Difference*Share In Percentage ($100000-$40000)*50%     30000

          Basis                                                                                    155000

Difference:

Net Income                                                                                   100000

Distribution Of Each Partner*2 ($20000*2)                                   (40000)

You might be interested in
Please help
Reil [10]

A budget is a plan you make to decide how you spend your money.

To make a budget you must decide how much of your money you want to spend and how much of it you want to set aside. To balance a budget, keep track of all your expenses, payments, and income.

5 0
2 years ago
You just sold 900 shares of Alcove stock at a price of $34.08 a share. Last year you paid $39.20 a share to buy this stock. You
ehidna [41]

Answer:

d. -$4,608

Explanation:

The computation of the total capital gain is shown below:

Total capital gains is

= (End value - Beginning value) × 900 shares

= ($34.08 - $39.20) × 900 shares

= -$4,608

Hence, the  total capital gain on this investment is -$4,608

Therefore the option d is correct

And, the same is to be relevant

5 0
3 years ago
A charity organization had a fundraiser where they sold each ticket for a fixed price. After selling 200 tickets, they had a net
Arlecino [84]

Answer: y = 66x - 1200

Explanation: The charity organisation has to sell a number of tickets to cover their production costs of $1,200. It is given that after selling 200 tickets they retain a net profit of $12,000. Net profit is deduced as: Total sales - total costs. Sales is calculated as total tickets x selling price per ticket.

If we let b represent the sales earned from selling tickets, then:

Net profit = total sales - total costs

12,000 = 200b - 1,200

We can then solve for b by taking the 1200 to the other side of the equal sign. When we do that the sign of that number changes. This is also the same as adding 1200 to both sides of the equal sign:

∴12000 + 1200 = 200b

13200 = 200b

To get the price of one single ticket, b, we need to divide both sides by 200.

∴ b = 66

This means that each ticket's selling price is $66.

So when when we take it back to the calculation of net profit then it becomes:

Net profit = total sales - total costs

y = 66x - 1200

To test:

y = 66x - 1200

= 66 (200 tickets) - 1200

= $12,000

4 0
3 years ago
Read 2 more answers
Nighthawk Inc. is considering disposing of an old machine with a book value of $22,500 and an estimated remaining life of three
Juli2301 [7.4K]

Answer:

b. $8,750 increase

Explanation:

Please see attachment

3 0
3 years ago
Read 2 more answers
Which of the following describes the process by which radical changes needed to meet higher customer expectations can be achieve
Oliga [24]

Answer:

correct option is Business process reengineering

Explanation:

solution

the correct answer is Business process re-engineering because business process re-engineering is a radical re-design of the business process for getting  improvement in the critical aspect as like it quality and cost and service etc.  

and it is focusing on  analysis and design of workflow

so correct option is Business process reengineering

6 0
3 years ago
Other questions:
  • The story of the Reset Button is an example of a noise caused by (select all that apply)
    12·1 answer
  • Which one of the following is NOT one of the arguments against social responsibility as used by economist Milton Friedman?
    13·1 answer
  • Identify the career that matches each description.
    7·2 answers
  • What explanation might an economist provide why some people smoke cigarettessmoke cigarettes when such behavior can lead to heal
    11·1 answer
  • Willow Corporation had three employees. Two of the employees worked full-time and earned salaries of $25,000 each. The third emp
    5·1 answer
  • You are comparing three investments, all of which pay $100 a month and have an interest rate of 8 percent. One is ordinary annui
    7·1 answer
  • Many health care organizations are drowning in data. yet health care workers cannot get reliable insights from this data. inform
    7·2 answers
  • Asset A and B have expected returns of 5% and 3% per year respectively. Their annual volatilities are both 20% and the correlati
    10·1 answer
  • Which of the following activities are credits? The impact on accounts receivable from a $10 million collection from a customer.
    15·1 answer
  • Al owned a family high-deductible health policy as part of his MSA for the entire year. What is his maximum permitted contributi
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!