Answer:
$102,000
Explanation:
According to 26 US code Section 704(c) - Partner's distributive share :
Taxable gain to be recognized from sale = Sale value - ( Partner's share * Fair market value )
Brooke contributed the land, the gain realized before the land was contributed = $120,000 - $90,000 will be allocated entirely to her. She will also be allocated 40% of the gain after the contribution was made = ($150,000 - $120,000) x 40% = $30,000 x 40% = $12,000.
So the total gain recognized by Brooke will be $90,000 + $12,000 = $102,000.
Partnerships are pass through entities, the partners are taxed, not the partnership itself.
Answer:
Emerging
Explanation:
An emerging industry is a group of companies that is created around a new product or idea that is still in the early stages of development. An emerging industry consists of just a small number companies and is often centered around new technology. A example is the small wind generated power industry because wind is not a common source that is used for the generation of power.
Answer:
He should offer solution and gain agreement that the proposed solution is acceptable.
Explanation:
Achieving customer satisfaction is essential for any Company to be a successful entity. Anton is one of the representatives of Company and hence he needs to present the Company in good light before the customers. One of the ways of doing this is to pay attention to their grievances with the attempt to solve and redress the same as Anton should do in the above manner.
Answer:
-$144,000
Explanation:
Cash flow from financing activities
Payment to retire bonds payable -$361,500
Proceeds from borrowing at bank (note payable) $217,500
Net cash used by financing activities -$144,000
The payment made to retired bond payable reflects the outflow of cash so we deducted it and the borrowing at bank is a cash inflow so we added it
And, the rest items are not relevant. Hence, ignored it
Answer:
B
Explanation:
Because the goverment is shareing the bonds