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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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identify each of the following expenditures as chargeable to land, land improvements, buildings, machinery and equipment, or oth
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An expenditure represents a charge with both coins or credit score to buy items or services. It is recorded at a unmarried factor in time (the time of buy), as compared to an expense this is recorded in a length wherein it's been used up or expired. This manual will evaluate the distinctive styles of fees utilized in accounting and finance.

The required details about expenditure  is  mentioned below .

(a) Land -

Cost of land fill for constructing site.

Special evaluation paid to town for extension of water fundamental to assets.

Cost of razing and putting off the vintage constructing on assets received for a constructing site.

Delinquent actual property taxes assumed with the aid of using client on assets received for a constructing site.

Attorney's rate for identify search.

(b) Land Improvements -

Cost of paving parking region for personnel and customers.

Parking lot lighting.

Installing a fence across the parking lot.

(c) Buildings -

Insurance in the course of production of constructing.

Interest incurred on mortgage in the course of production of constructing.

Architect's rate for constructing plans and supervision of production.

(d) Machinery and Equipment -

Fee paid for set up of gadget.

Special basis for brand new gadget received.

Insurance on new gadget at the same time as in transit.

Freight fees on new gadget.

Sales tax on new gadget.

(e) different account -

Cost of repairing vandalism harm to gadget in the course of set up.

Cost incurred in repairing harm because of set up of recent gadget.

Cost of lubricating oil bought for periodic oil modifications for gadget.

Repainting the trim on a constructing.

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6 0
1 year ago
A marketing activity that can be considered a privacy risk is ___
Kazeer [188]
Electronic Profiling is your answer. I hope I helped:)
6 0
3 years ago
Mullineaux Corporation has a target capital structure of 64 percent common stock, 9 percent preferred stock, and 27 percent debt
nlexa [21]

Answer:

10.02%

Explanation:

The computation of the WACC is shown below. The formula of WACC is shown below:

= (Weightage of debt × cost of debt)  + (Weightage of preferred stock) × (cost of preferred stock) + (Weightage of  common stock) × (cost of common stock)

= 27% × 7.6% × (1 - 0.40) + 9% × 5.9% + 64% × 12.9%

= 2.052% × (1 - 0.40) + 0.531% + 8.256%

= 10.02%

8 0
3 years ago
Where do you think the biggest hole is in the registration statement?
Alex17521 [72]
In the United States, a registration statement is a set of documents, including a prospectus, which a company must file with the U.S. Securities and Exchange Commission before it proceeds with a public offering.

Not that sure though
Best luck with your studying
8 0
2 years ago
Janice is unsure about her future career path. She has grown up on her family farm, but she is also interested in medicine. Jani
ArbitrLikvidat [17]

Instead of joining groups to learn more about the two fields, Janice should job shadow in the medical career and also her family members on the job. By job shadowing, she would get a better feel for what the work environment and everyday life would be like in that career instead of just what some groups teach about the different fields. Medical and farming are two large career fields with any different smaller job opportunities within.

8 0
3 years ago
Read 2 more answers
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