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NNADVOKAT [17]
3 years ago
15

Jackson is a 30 percent partner in the JJM Partnership when he sells his entire interest to Rhonda for $112,000 cash. At the tim

e of the sale, Jackson's basis in JJM is $64,000. JJM does not have any debt or hot assets. What is Jackson's gain or loss on the sale of his interest?
A. $48,000 ordinary income.B. $24,000 capital gain and $24,000 ordinary income.C. $48,000 capital gain.D. Gain or loss cannot be determined.
Business
1 answer:
mart [117]3 years ago
3 0

Answer: C. $48,000 capital gain

Explanation:

To calculate the Gain or loss on the sale of Jackson's interest we will subtract his adjusted basis from the sale of his entire interest in the following manner,

Gain(loss) on sale of interest = Amount realised - Adjusted basis in partnership

= 112,000 - 64,000

= 48,000

$48,000 will be his Gain on the sale of his interest. It will also be considered CAPITAL as he does not have Hot assets like inventory just equity.

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In a planned economy, prices of commodities are controlled by _________.
AnnZ [28]
<h3>Answer:</h3>

C. The government

<h3>Explanation:</h3>

Vocabulary

First, it is important to define the key terms in the question and answers.

  • Planned Economy- A planned economy is an economy where the investments and capital are allocated by the government.
  • Commodities - Commodities are economic goods that have real value due to their real-life usefulness (like lumber) or rarity (like gold).

How Planned Economies Work

As its name suggests, a planned economy plans the economy out and the price of goods within the markets. These plans are created by the government. This means that private businesses, consumers, and supply/demand do not control prices. Only the government can do that because the government has full control of planned economies. This is the reason that planned economies are also called command economies because the economy is commanded by the government.

5 0
2 years ago
An investor sold mjs stock, a stock not currently owned in her portfolio. this is:______.
belka [17]

An investor has sold MJS stock, a stock not currently owned in her portfolio--------Bearish

What Is a Portfolio?

A portfolio is a collection of financial investments like stocks, bonds, commodities, cash, and cash equivalents, including closed-end funds and exchange traded funds (ETFs). People generally believe that stocks, bonds, and cash comprise the core of a portfolio.

What is a portfolio for a company?

The portfolio is a collection of the products, services and achievements of the company. The goal of a company portfolio is to create a presence of the business on the market, attract more customers and to show how the business differs from its direct competitors on the market.

What does bearish mean trading?

A bear is an investor who is pessimistic about the markets and expects prices to decline in the near- to medium-term. A bearish investor may take short positions in the market to profit off of declining prices. Often, bears are contrarian investors, and over the long-run bullish investors tend to prevail.

Learn more about bearish:

brainly.com/question/14078353

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8 0
1 year ago
Assume that the cost of money is 10% per year. The initial cost of a small personal aircraft is $35,000, the annual repair and m
babymother [125]

Answer:

The present worth of aircraft = $29137.82

Explanation:

Given the cost of money (r ) = 10%

The initial cost of small aircraft = $35000

Annual repair and maintenance costs (A) = $20000

Salvage valaue = $10000

Now calculate the present value of aircraft by adding the initial cost of annual maintenance and salvage value and subtracting the initial cost.

Present worth = initial cost + \frac{A[1-(1+r)^{-n}]}{r} - \frac{Salvage \ value}{(1 + r)^{n}} \\= 35000 + \frac{20000 [1 – (1+ 0.01)^{-2}]}{0.01} - \frac{10000}{(1 + 0.01)^{2}} \\= $29137.82

6 0
3 years ago
Technician a states that the torque-to-yeild method is one of the primary methods of replacing wheel lug studs. technician b sta
vaieri [72.5K]

<span>Wheel lug studs makes the changing of tires easy by creating the ability to hold  and locate the assembly in the changing of tire through lifting both tire onto the studs and also the wheel. The technician that states that torque-to-yield method is one of the primary method in replacing   wheel lug studs is correct. </span>

Wheel studs are threaded fasteners that holds on the wheel and doing re-torque of lug nuts that is fully assembled to the wheel stud is applied, then pull it a few times and seal it to secure the wheel. Then check the torque after a test drive to ensure safety.

Moreover, wheel studs are replaceable; it has two types, the press-in, and screw-in method. Nevertheless, the arc welder method is possible but unlikely to be used.

 

<span> </span>

8 0
3 years ago
The person you are pretending to be as you complete a PBL project is called
liraira [26]

Answer:

catastrophe

Explanation:

the person you are pretending to be as you complete a pbl project is called catastrophe peer

5 0
3 years ago
Read 2 more answers
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