Answer:
The Jerry's adjusted basis in his partnership interest at the end of the year is $45,500
Explanation:
The adjusted basis of Jerry in his partnership is shown below:
= Partnership interest - Ordinary loss + long term capital gain + dividend - non deductible expense + cash contribution - share reduction
= $50,000 -$15,000 + $3,000 + $2,000 - $500 + $10,000 -$4,000
= $45,500
The ordinary loss, share reduction, and non deductible expense would decrease the Jerry interest in partnership firm while all other cost would increase his interest. That's why the amount is added and subtracted.
Hence, the Jerry's adjusted basis in his partnership interest at the end of the year is $45,500
Answer:
The correct answer to the following question will be "Cost-benefit analysis".
Explanation:
The cost-benefit analysis also referred to as Benefit-cost analysis, is a strategic approach to evaluating the weaknesses and strengths of approaches used only to define solutions that provide the best strategy for generating advantages while retaining costs.
This can be used to assess implemented or future actions or to measure the benefit of decision, initiative or program costs.
Therefore, this will be the right answer.
Answer:
Total cost= $101,380
Explanation:
Giving the following information:
Production for April= 56,000
Production for May= 52,000
The raw material costs $1.85 per unit.
Each month's ending raw materials inventory should equal 30% of the following month's budgeted materials. The April 1 inventory for this material is 16,800 units.
We need to determine the budgeted material purchases for April:
Purchases= production for April + ending inventory - beginning inventory
purchases= 56,000 + (52,000*0.3) - 16,800= 54,800 units
Total cost= 54,800*1.85= $101,380
All of the following statements are true with regard to qualifying business losses EXCEPT: Qualifying losses from 2017 were carried forward to the taxpayer's 2018 tax return.
Explanation:
The loss would reduce any other eligible income of the applicant for the current year. An investor shall recover the QBI from various trades or businesses, including damages.
Upon deduction of all qualified company gains for the current year, the excess of the income shall be rolled forward to the next tax year. The unfavorable balance shall be shifted into the next fiscal year.
If the loss was incurred after 2018, the excluded or lost element is included in QBI and would otherwise be included in QBI, but is included in taxable income not until the year.
Answer:
total $3.36
Explanation:
required for producing 50 gallons of wine:
2,400 ounces of grape concentrate at $0.01 per ounce = $24 / 50 = $0.48 x 1.04 = $0.50
54 pounds of granulated sugar at $0.50 per pound = $27 / 50 = $0.54 x 1.1 = $0.59
60 lemons at $0.80 each = $48 / 50 = $0.96 x 1.25 = $1.20
100 yeast tablets at $0.21 each = $21 / 50 = $0.42
100 nutrient tablets at $0.14 each = $14 / 50 = $0.28
3,700 ounces of water at $0.005 per ounce = $18.50 / 50 = $0.37
Hank estimates that 4% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% of the lemons cannot be used.
total standard cost per gallon:
- grape concentrate = $0.50
- granulated sugar = $0.59
- lemons = $1.20
- yeast tablets = $0.42
- nutrient tablets = $0.28
- water = $0.37
- total $3.36
