Bart contributes $100,000 to the Fish Partnership for a 40% interest. During the first year of operations, Fish has a profit of

Question

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Bart contributes $100,000 to the Fish Partnership for a 40% interest. During the first year of operations, Fish has a profit of

$20,000. At the end of the first year, Fish has outstanding loans from the following banks. First Bank (recourse) $10,000 Second Bank (nonrecourse) 30,000 What is Bart's at-risk basis in Fish at the end of the first year? a. $112,000 b. $124,000 c. $108,000 d. $100,000

Business

1 answer:

barxatty [35] · Answer 1 · 2022-03-25T08:00:53+03:00

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

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