Emma and Laine form the equal EL Partnership. Emma contributes cash of $100,000. Laine contributes property with an adjusted basis of $40,000 and a fair market value of $100,000
Explanation:
As given in the question
- <u>Emma and Laine form the equal EL Partnership.</u>
- <u>Emma contributes cash of $100,000 in EL Partnership</u>
- <u>Laine contributes property with an adjusted basis of $40,000</u>
1)How much gain, if any, must Emma recognize on the transfer
<u>Ans: Neither Emma nor Laine ,none of them recognize any gain.</u>
2) What is Emma's basis in her partnership interest
<u>Ans:</u><u>Emma basis in her patnership interest is $100,000 </u>
3) What is Laine's basis in her partnership interest
<u>Ans: Laine's basis in her partnership interest is $40000</u>
4) What basis does the partnership take in the property transferred by Laine
<u>Ans: $40,000</u>
Business formation is also known as: a business attraction
A resume is brief information of a person’s education, previous experience, and qualifications to send along with job application. After the submission of the resume by the person through the mail, he should hold for at least 1 week before following up with the employer.
<h3>
Submitting a résumé electronically</h3>
Correct option is C.
People should you wait for at least "2-3 days" before following up with an employer.
- After submitting a resume by mail, you should wait one week before following up with an employer. It is necessary to give ample time for the resume to make it in the mail and a chance for the company or individual to review your resume.
- It typically takes 2-3 business days for an item to travel by mail so calling 1 day later or 2-3 is likely too soon whereas, 2 weeks may be too long.
Learn more about résumé, refer to the link:
brainly.com/question/1965656
Answer:
-$2.24
Explanation:
For computation of EPS amount first we need to find out weighted average common shares outstanding and net income available to common stockholders the is shown below:-
Weighted average common shares outstanding = (Outstanding common shares ÷ 2) - (Treasury shares × 4 months ÷ 12 months) + (Issued shares × 2 months ÷ 12 months)
= (230,000 ÷ 2) - (11,500 × 4 ÷ 12) + (4,600 × 2 ÷ 12)
= 115,000 - 3,833.33 + 766.67
= 111,933.34
Net Income Available to Common Stockholders = Net loss - Number of shares × Par value × Shares percentage
= -$250,000 - 2,300 × $10 × 5%
= -$251,150
Earning per share = Net Income Available to Common Stockholders ÷ Weighted average common shares outstanding
= -$251,150 ÷ 111,933.34
= -$2.24
Therefore for computing the earning per share we simply applied the above formula.
Answer and Explanation:
The journal entries are shown below:
On Aug. 1
Merchandise Inventory $75,000
To Accounts Payable $75,000
(Being the purchase of merchandise inventory is recorded)
For recording this we debited the merchandise inventory as it increased the assets and credited the account payable as it also increased the liabilities
On Sept. 1
Accounts Payable $75,000
To Notes Payable $75,000
(Being the issued of note payable on the account is recorded)
For recording this we debited the account payable as it decreased the liabilities and credited the note payable as it increased the liabilities
On Nov. 30
Notes Payable $75,000
Interest Expense $1,125 ($75,000 × 6% × 90 days ÷ 360 days)
To Cash $76,125
(Being cash paid is recorded)
For recording this we debited the note payable and interest expense as it decreased the liabilities and increased the expense and credited the cash as it decreased the assets
