Answer:
Rita's basis in her partnership interest is $35000
Explanation:
given data
cash = $10,000
fair market value = $150,000
adjusted basis = $55,000
liability = $60,000
to find out
Rita's basis in her partnership interest
solution
we know both Rita and Gerry half of total liability
we get here 50% share on debt that is
50% share on debt = 50% × liability
50% share on debt = 0.50 × $60,000
50% share on debt = $30000
so basis on interest is here as
basis on interest = cash + adjusted basis - 50% share on debt
basis on interest = $10000 + $55000 - $30000
basis on interest = $35000
Answer:
Kim's total profits on the three stocks at the end of the first day of trading is $2157.80
Explanation:
The closing day valuation of stocks needs to be compared with the prices at the IPOs opened that same day to ascertain whether or not a profit has been made.
The purchase price of IPOs =(750+370+260)*$24
=$33,120.00
Closing day valuation=($23.15*750+$27.43*370+$29.87*260)
=$35,277.8
0
The total profit on the day's transactions=$35,277.8
0-$33,120.00
=$2157.8
The total profits on the three stocks on first day is $2157.8
0
Answer:
in Texas, the amount of oil and natural gas produced together with the market price determines the amount of tax to be generated.
Answer:
C,<em> Brain drain</em>
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Explanation:
<em>What is brain drain?</em> Brain drain according to Wikipedia is a problem described as the process in which a country loses its most educated and talented workers to other countries through migration. Negative effects include loss of tax revenues by the home country, and a loss of key health and education service professionals. <em>A brain drain can result from turmoil within a nation, the existence of favorable professional opportunities in other countries, or from a desire to seek a higher standard of living. </em>Johanna's brain drain came as a result of more favorable conditions in the U.S.
