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.
<span>Organizations known as Partnerships use the Form 1065 and Schedule K-1. A Partnership is an agreement between two partners to agree to work together to benefit each others interest. These organizations of Partnerships may be between individuals, governments, schools, etc.</span>
Answer:
Goods on which consumer spend less proportion of his income has an inelastic demand like a needle and newspaper. But the amount of income of a consumer does not affect the price elasticity of demand. Consumer's income has no relation with the price elasticity of demand for a particular good.
Explanation:
ANSWERS:
A-tertiary
B-primary
C-secondary
D-tertiary
E-primary
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Answer:
Direct expenses.
Explanation:
The departmental contribution is determined by deducting the direct expense from the amount of sales
In mathematically,
The following formula should be used
Departmental contribution = Department revenues - direct expense
Here The expenses to be - rent, utilities, taxes, insurance, etc
ANd, It is arrive after paying off the direct expenses that related to the overhead.
