1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
shepuryov [24]
3 years ago
7

Lola owns a one-half interest in the Lenax LLC. Her basis in this ownership interest is $22,000 on December 31, 2016, after acco

unting for the calendar year LLC’s 2016 operations. On that date, the LLC distributes $25,000 cash to Lola in a proportionate nonliquidating distribution.She recognizes a $___________ from this distribution.
Business
1 answer:
Marina CMI [18]3 years ago
7 0

Answer:

The answer is Lola should acknowledge a $3,000 from this distribution.

Explanation:

From the question given, we say that, Lola should acknowledge a $3,000 from this distribution.

Recall that

The Cash Distributed  cash = $ 25,000

The Basis in this ownership of interest is  = $22,000

The Gain = $3,000

Lola basis after the distribution is zero.

Therefore Lola should accept this distribution of a $ 3000

You might be interested in
Startup firms can struggle to gain lower prices from rivals, but FreshDirect seems to have found several ways to gain lower supp
chubhunter [2.5K]

Answer:

D. FreshDirect shares warehouse space with farmers and livestock producers

Explanation:

FreshDirect does not share its own resources with the supplier in order to get a lower rate. If it does that , he would be practicing a business model which has different entities attached to each other to work for greater goal.

Here, this is not the case. FreshDirect tends to look for out of the box ways to lower supplier cost but "FreshDirect shares warehouse space with farmers and livestock producers" is not one of those ways.

8 0
3 years ago
​Noah's sporting goods is having difficulty attaining the credit it needs to expand. what should the company do in order to alle
mr_godi [17]
Do advertising in sport magazine?
4 0
3 years ago
Enviro Company issues 8%, 10-year bonds with a par value of $250,000 and semiannual interest payments. On the issue date, the an
vichka [17]

Answer: 1. $218750 ; 2. $231, 250 ; 3. $11562.50

Explanation:

1. The bonds with a par value of $250,000 and implied selling price of 87 ½.

Cash proceed = 250,000 × 87.5%

= $218,750

2. Since it's semiannual interest payments, the total amount of bond interest expense that will be recognized over the life of these bonds will be:

[20 × (250,000 × 8% × 6/12)]+ $250,000 - $218,750

= $200,000 + $250,000 - $218,750

= $231, 250

3. The amount of bond interest expense recorded on the first interest payment date will be:

= Total bond interest expense/number of payments

= $231,250/20

= $11562.50

5 0
3 years ago
What are examples of criteria used in conditional formatting? Check all that apply. less than equal to added to divided by great
natima [27]

Answer:

  • Less than
  • Equal to
  • Greater than

Explanation:

Considering the listed options, the criteria used in conditional formatting are Less than, Equal to and Greater than

To make use of conditional formatting, follow the highlighted steps

1. Highlight cells that you want to format

2. Goto Home tab -> Styles -> then select Conditional Format

3. Select Highlight Cells Rules

4. Select the format type (this is where you get to pick either of greater than, equal to less than, etc.)

5. Enter the format value and how it is to be formatted

6. Press OK

3 0
3 years ago
High Country Corporation acquired two inventory items at a lump-sum cost of $80,000. The acquisition included 6,000 units of pro
SCORPION-xisa [38]

Answer:

$9,000

Explanation:

Calculation for the amount of gross profit that should be recognize

First step is to calculate the

A's sale value = 6,000 unit*12 per unit

A's sale value = $72,000

Second Step is to calculate B's sale value

B's sale value = 14,000 units*4 per unit

B's sale value= $56,000

Third step is to calculate the Total sale value

Total sale value = $72,000 + $56,000

Total sale value= $128,000

Fourth Step is to calculate the Cost of goods sold of A for 6,000 units and 2,000 units

Cost of goods sold of A for 6,000 units = ($72,000/$128,000) * $80,000

Cost of goods sold of A for 6,000 units = 0.5625*$80,000

Cost of goods sold of A for 6,000 units= $45,000

Cost of goods sold of A for 2,000 units = $45,000*2,000/6,000

Cost of goods sold of A for 2,000 units = $15,000

Last step is to calculate the Gross profit of A for 2,000 units

Gross profit of A for 2,000 units = (2,000*12 per units) - 15,000

Gross profit of A for 2,000 units = $24,000 - $15,000

Gross profit of A for 2,000 units = $9,000

Therefore the amount of gross profit that should be recognize will be $9,000

7 0
3 years ago
Other questions:
  • You met Tevin on a social media website. He was a personable, effective communicator. While online, he asked for a donation to a
    6·1 answer
  • You are working as a correctional officer. Your boss pulls you aside and discusses with you how you handled a situation with an
    10·1 answer
  • A job shadow takes place:
    11·2 answers
  • If you receive a phone call and the caller asks for personal information, what should you do?
    7·2 answers
  • Barney decides to quit his job as a corporate accountant (which pays $10,000 a month) and go into business for himself as a cert
    6·1 answer
  • The following information is available for Juno Company for the month ending June​ 30, 2019. ​* Balance as per the bank statemen
    11·1 answer
  • The income statements for Federer Sports Apparel for 2019 and 2018 are presented below Required Prepare a horizontal analysis fo
    14·1 answer
  • Juan transferred 100 percent of his stock in Rosa Company to Azul Corporation in a Type B stock-for-stock exchange. In exchange,
    11·1 answer
  • Write a 100-word draft of the memo, keeping in mind the formatting rules you have learned. Because this memo is short, it doesn'
    8·1 answer
  • Madison promises Grace $10 if Grace collects her dry cleaning for her. This is an example of a(n) ________ contract. Group of an
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!