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emmainna [20.7K]
3 years ago
5

Zelda Partnership holds cash of $30,000 and inventory worth $60,000 (basis equals $42,000). Zelda makes a $30,000 cash liquidati

ng distribution to Link, a one-third partner with an outside basis of $24,000. How much gain or loss, if any, does Link recognize
Business
1 answer:
Vsevolod [243]3 years ago
8 0

Answer:

6,000 ordinary gain

Explanation:

The computation of gain or loss is shown below:-

Given that

Worth of an inventory = $60,000

Basic inventory = $42,000

Now if we divide this two by each other so the percentage would be

= $60,000 ÷ $42,000 i.e to be greater than the 120% and it is said that the one third would be considered of $18,000

The $18,000 come from

= $42,000 - $24,000

= $18,000

Now its one third is $6,000 and the same is to be treated as ordinary gain

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Corporate governance is important to nations because: a. firms seek to invest in nations with national governance standards that
Mama L [17]

Answer:

Firms seek to invest in nations with national governance standards that are acceptable to them.

Explanation:

Corporate governance involves the way a company is been controlled by the owners or board of directors. It involves the rules by which workers abide and the hierarchy of workers.

Corporate governance is important to nations because in most cases it is the owners of a company that decide which country to invest in, and in most cases the investors critically check if the country has a suitable governing atmosphere for their business to run smoothly in.

6 0
3 years ago
a debit entry in the cash account and a corresponding credit entry in David Levin's account are made for the transaction.....
Alborosie

Answer:

receipts of cash from David Levin's

Explanation:

6 0
2 years ago
You just got a job and plan to save for the college expenses for your kids. You have a son and a daughter. Your son is 4 years o
Dafna1 [17]

Answer:

$11,508.25

Explanation:

your son will start college in 14 years, and the present value of his college tuition = $40,000 x 3.4651 (PVIFA, 6%, 4 periods) = $138,604

your daughter will start college in 17 years, so you need in today's dollars $138,604

you will need to save enough money to cover both tuitions;

money required to cover your son's tuition = $138,604 / 21.015 (FVIFA, 6%, 14 periods) = $6,595.48

money required to cover your daughter's tuition = $138,604 / 28.213 (FVIFA, 6%, 14 periods) = $4,912.77

total annual savings = $11,508.25

5 0
2 years ago
Can someone please help me with this question ?
Elis [28]

1) CORRECT

2) If it was an administrative assistant then this would be correct

3) A bachelor's degree

4 0
3 years ago
Madison's gross tax liability is $9,000. Madison had $3,000 of tax credits available and she had $8,000 of taxes withheld by her
Anuta_ua [19.1K]

Answer:

C. $2000 tax refund

Explanation:

Given that

Tax liability = 9000

Tax credits = 3000

Tax withheld = 8000

Maddison tax return = Gross tax liability - tax credits - tax withheld

Therefore

Tax return = 9000 - 3000 - 6000

= -2000.

This indicates a tax refund of $2,000

4 0
3 years ago
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