The amount for which a promissory note is written is called the

Daniel acquires a 30% interest in the ppz partnership from paolo, an existing partner for $39,000 of cash. the ppz partnership i

Arte-miy333 [17]

Daniel has a 30% interest in the ppz partnership from paolo and has $39,000 cash but the ppz has also $10,000 of resource liability. So, Daniel basis in his partnership interest is $42,000

Daniel has outside basis of $3,000 ( .30 * $10,000) share of the partnership from their resource liability. So $3,000 + $39,000 = $42,000

7 0

3 years ago

Explain in three sentences what “a decision to communicate constructively” means

Brilliant_brown [7]

A decision to communicate means to communicate positively, offering help and support, and it doesn’t involve criticism and dispiriting. It a method of communicating more effectively and efficiently. In addition, communicating constructively is a way to present your points to a person or audience so they can understand them.

6 0

3 years ago

The Smiths are saving money for a down payment on a house. The Smiths have $25,000 in cash, and they estimate that in 5 years th

s2008m [1.1K]

Options :

A)net present value of the $25,000.

B)future value of the $25,000.

C)internal rate of the return on the $25,000.

D)present value of $25,000.

Answer: B)future value of the $25,000.

Explanation: The Smith's calculation and subsequent result which yielded $31,000 refers to the future value of $25,000. The initial $25000 is the present value of the amount held. If the initial amount is saved or deposited over a certain number of years in an account which yields a certain rate of interest per annum and is compounded either on a monthly, yearly, quarterly or semiannual basis as the case may be, in this scenario above, the interest is called mounded annually. This initial amount will grow and yield an amount which is greater than the present deposit. This is called the future value of the initial deposit.

8 0

3 years ago

A ____________________ is a promise that the buyer's money will be refunded under certain conditions.

notsponge [240]

Answer:

A. money-back guarantee

Explanation:

Money-back guarantee represents when buyers purchase a product from the market and get a warranty card. After purchasing a product if the buyer is not satisfied with the product and goes to the shop by stating that he is not satisfied with the product and it comes under warranty. The Product can replace a product or money-back guarantee (if it comes under the policy when purchased the product) if the customer not satisfied with the product.

So if seller is promised from buyer for a money-back guarantee if buyer is not satisfied from the product then the seller has a responsibility to return the buyer money.

5 0

3 years ago

During the current year, Eleanor earns $120,000 in wages as an employee of an accounting firm. She also earns $13,000 in gross i

larisa86 [58]

Answer:

$10,000

Explanation:

Eleanor's self-employment tax will require an understanding of a few points.

1. Eleanor earns $120,000 as wages working for an accounting firm therefore, this wages do not qualify for self-employment tax

2. Eleanor earns $13,000 as gross income for her own consulting service and this is self-employment income. However, $3,000 qualify as deductible expenses from the gross income. Taxable self-employment income= $13,000-$3,000= $10,000

3. Long term capital gain tax incurred = $1,000. Ordinarily the capital gain tax should increase the tax. However, its inclusion will be based on the federal government's table for calculating payment of long-term capital gain tax for 2019 based on income for the year.

Looking at the table, income from $0 Up to $39,375 will attract 0% payment of long-term capital gain tax. Since, the self-employment income of Eleanor is $10,000, no long-term capital gain tax will be incurred.

It means only the 13,000-3,000= $10,000 will be tax for self employment

5 0

3 years ago