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liq [111]
3 years ago
10

A customer subscribes to a $10,000 limited partnership interest. The commission is $1,000. The up-front costs are $500 for legal

expenditures, and $500 for organization costs. What is the customer's beginning tax basis
Business
1 answer:
vazorg [7]3 years ago
3 0

Answer: customer's beginning tax basis =  $10,000

Explanation:

Customer's beginning tax basis are the initial cost of the partnership for commission legal and organizational fees and these are not deductible from the cost basis.

Given: A customer subscribes to a $10,000 limited partnership interest.

That means initial cost = $10,000

So, the customer's beginning tax basis =  $10,000

You might be interested in
The criteria that parties to a contract must be in agreement is also known as
irga5000 [103]

Answer:

C: Mutual Assent.

Explanation:

Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.

Hence, the criteria that parties to a contract must be in agreement is also known as mutual assent.

<em>In a nutshell, mutual assent connotes agreement, acceptance and consent to a contract by both parties. </em>

7 0
3 years ago
Bonita Industries has estimated that total depreciation expense for the year ending December 31, 2018 will amount to $583000, an
Mice21 [21]

Answer:

<u><em>Total expenses 936,500</em></u>

depreciation 291,500

wages expense 645,000

Explanation:

Assuming the depreciation are calculate base on straight line or that their output is lineal through the year:

It will be half of the depreciation for the year.

583,000 / 2 =  291,500 depreciation expense for six-month

For the year-end bonused It wll be the same ideal, we assume are earned equally during the year. So at half year half of the bonuses should be earned:

wages expense 1,290,000/2 = 645,000

<u>Total expenses 936,500</u>

7 0
2 years ago
Explain why you wouldn't want to use the customer first or last name field as the primary key for a table. What problem could th
zlopas [31]

Answer:

There could be a customer with the same name or surname. It could cause a mess in your database if the customer wants payback for something and there will be the customer with the same name. I think that the primary key should be consisted of unique Customer's ID number.

Read more on Brainly.com - brainly.com/question/2870954#readmore

Explanation:

Asked on brainley already

4 0
3 years ago
Karen and Anika, the owners of a new personal assistant firm called Assist You 2, are interested in offering their services in a
maks197457 [2]

The first thing Karen and Anika should do is to understand the position of competitors by using the positioning process.

<h3>What is positioning?</h3>

The process of positioning refers to the establishment of a business and its products in the market by creating awareness about it. This product positioning helps to create an image of the products among customers.

This product positioning helps the consumers to compare the product with competitors and identify the product with brand value. It also helps to recognize our products with similar products available in the market.

Therefore, Karen and Anika need to understand the position of their competitors if they wanted to provide their services in a market that has already startups and firms.

This helps them to settle the unique value of their products among customers after recognizing the value of competitors' products.

Learn more about positioning, here:

brainly.com/question/14774463

#SPJ1

4 0
2 years ago
"Rico's Grill, Inc. is solely owned by Rico Vito. Rico's Grill borrows $10,000 from a local bank to finance the purchase of a ne
Aneli [31]

Answer:

Need not make any special disclosure

Explanation:

The reason is that it is not a parent-subsidiary transaction which means if the group as a whole trade with each other then they must add a special disclosure in the financial statement otherwise it must be neglected. The company must not specially disclose small borrowings from the lenders when it is presenting that figure in the financial statement borrowing figures. If the transaction is between the group or the borrowings are prominent it must be disclosed separately in the note to financial statement.

8 0
3 years ago
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