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Fynjy0 [20]
3 years ago
5

Walter receives cash of $18,000 and land with a fair market value of $75,000 (adjusted basis of $50,000) in a current distributi

on. His basis in his partnership interest is $16,000 before the distribution. If an amount is zero, enter "0". a. What amount of gain must Walter recognize as a result of the current distribution?
Business
1 answer:
enot [183]3 years ago
4 0

Answer:

Walter's recognized gain is $2,000

Explanation:

Walter's gain/loss = cash distribution - basis in the partnership = $18,000 - $16,000 = $2,000

A partner (Walter) does not have to recognize income on a non-liquidating partnership distribution of property other than money. This land distribution must be treated as a sale and recorded at fair market value.

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a. Attracting large amounts of capital is more difficult for partnerships than for corporations because of such factors as unlim
lidiya [134]

Answer:

The statement is: True.

Explanation:

Partnerships are organizations that share ownership of two or more people. Corporations, on the other hand, are owned by shareholders who decide how and who will run the business. Partnership owners are individually liable, implying that the owners' assets can be taken away in front of the debt.  

Debt or legal responsibility in companies is not individual. Liability is only dealt with at the company level. In reality, partnerships require reorganization when one of the partners is quitting or passing away, something that does not happen to corporations. For these factors, the majority of associations find it difficult to raise significant amounts of funds relative to companies.

7 0
3 years ago
5 th question answer please
NeX [460]

Answer:C

Explanation:

7 0
3 years ago
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A project manager is estimating costs on her video game development project. She utilizes total costs from a similar project tha
Mumz [18]

Answer:

A) Analogous Estimation

Explanation:

Analogous Estimation is the process of comparing past costs and expenses of projects to make estimations for the current projects. This is usually used when there is data limitation for accurate estimations on the current projects.

Parametric is where a unit rate is devised to calculate project costs comprising of several units.

Bottom up estimation deals with estimating smaller cost components and then using the sum of these components to make larger estimates.

Option D is based on rough estimates on the time and effort required for a project.

None of the other options thus take into account past work other than the analogous estimation technique.

Hope that helps.

3 0
3 years ago
Jacques lives in San Diego and runs a business that sells boats. In an average year, he receives $728,000 from selling boats. Of
Gwar [14]

Answer:

1. <u>implicit cost</u>

2.<u> explicit cost</u>

3. <u>implicit cost</u>

4. <u>explicit cost</u>

Explanation:

Implicit costs refer to those costs that represent opportunity cost. In simple terms they are notional or those which haven't been actually incurred but considered.

Opportunity costs refer to the cost of sacrificed alternatives when an alternative is opted for. For instance, a student pursuing post graduation incurs implicit cost in the form of income foregone had he chosen to work instead for the same duration.

In the given case, the foregone rental income Jacques would've earned had he chosen to rent out his showroom represents opportunity cost or implicit cost.

Similarly, the salary Jacques sacrificed by working in boat business represents implicit cost.

The wages and utility bills that Jacques pays and wholesale cost which he pays represent costs which have actually been incurred, which are termed as explicit costs.

6 0
3 years ago
Define black hole.......​
larisa [96]

Answer:

hope this helps

Explanation:

A black hole is a place in space where gravity pulls so much that even light can not get out.

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3 years ago
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