1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Norma-Jean [14]
3 years ago
15

Tyler and Josie formed a partnership. Tyler received a 25 percent interest in partnership capital and profits in exchange for la

nd with a basis of $40,000 and a fair market value of $60,000. Josie received a 75 percent interest in partnership capital and profits in exchange for $180,000 of cash. Three years after the contribution date, the land contributed by Tyler is sold by the partnership to a third party for $76,000. How much taxable gain will Tyler recognize from the sale
Business
2 answers:
Brilliant_brown [7]3 years ago
8 0

Answer:

$24000

Explanation:

Section 704(C)(1)(A) requires that any pre contribution gain must be allocated entirely to Tyler. Therefore, Tyler is allocated the $20,000 pre contribution gain and 25% of 76000-60000= 16000 post contribution gain

20000 + 4000

$24000

8090 [49]3 years ago
4 0

Answer:

Taxable gain  =   $76,000 - $60,000 =  $16,000

Explanation:

At the time of receiving the land from the partnership the market value is $60,000 aa gaianst the cost of $40,000.   The partners would have valued the land at market value before giving it to Tyler. therefore the cost of land to Tyler will be $60,000 and not $40,000.

You might be interested in
Increasing your 401k deduction will ________ your take-home pay and __________ your federal taxes in the current year.
Yuki888 [10]
Answer: Decrease your take-home pay and decrease your federal income taxes in the current year. A 401k allows you to deduct earnings from your current income, and put that money in an account that cannot be opened until around retirement. The money put into a 401k, and the returns earned on that money through interest or investments, is not taxed as income until you take it out after retirement. This means that, when you put some of your earnings in a 401k, your take-home pay is lower for that year (you can't spend that money) and your income tax is reduced. 
3 0
3 years ago
A​ check-processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks
Liula [17]

Answer:

a. 41.6 million

b. 42.28 million

Explanation:

A) GIven

forecast in june = Sjune = 42 million

Checks recived in june = Xjune = 40 million

Smoothing constant = a = 0.2

So for july

Sjuly = a*Xjune + (1-a)*Sjune

=0.2*40 + (1-0.2)*42 million

=8+33.6 = 41.6 million

B) forecast in july = Sjuly = 41.6 million

Checks recived in july = Xjuly = 45 million

Smoothing constant = a = 0.2

So for August

Saugust = a*Xjuly + (1-a)*Sjuly

=0.2*45 + (1-0.2)*41.6 million

=9+33.28 = 42.28 million

<em>Note: This uses an exponential smoothing to forecast the results, but from the number of checks recived we see that it increases linearly. So we need a linear forecasting method .</em>

5 0
3 years ago
True Help is a nonprofit organization that works toward rehabilitating the homeless. The credo of the organization is "help us h
maw [93]

Answer: C

Explanation:

7 0
3 years ago
What a example of a social news site
scoundrel [369]

Explanation:

  • It encourages people community to post their news
  • The news can be posted for a group or to a general public too
  • The group or the general public can comment on the news
  • The news which is interesting based on the reviews will be given the top priority

Example:

Reddit - A large site with huge number of user  

Digg - This is also quite popular and it has different categories of news where the user can view news based on his/her interest.

6 0
3 years ago
5
gtnhenbr [62]

Answer:

option c it will have negative consequences..

5 0
3 years ago
Other questions:
  • Anheuser-Busch InBev SA/NV (BUD) reported the following operating information for a recent year (in millions):
    9·1 answer
  • Primo Corporation acquired 60 percent of Secondo Corporation’s voting common stock. On the date of acquisition, Primo had equipm
    12·1 answer
  • Canada has nationalized health​ care, so that​ everyone, regardless of their ability to​ pay, has some access to health care. Ba
    13·1 answer
  • ________________ software analyzes vast stores of historical business data that have been prepared for analysis in corporate dat
    15·1 answer
  • When the amount paid for land is $36,000 and the amount paid for expenses is $10,000, the balance in total assets after transact
    12·1 answer
  • "fundamental disequilibrium," its government choose not to devalue its currency. a likely consequence of this would be
    5·1 answer
  • The cases of Enron and Bernard Madoff go beyond a question of ethics because in both cases ________. no harm was intended and th
    9·2 answers
  • Miller Mining, a calendar-year corporation, purchased the rights to a copper mine on July 1, Year 1. Of the total purchase price
    5·1 answer
  • Vihaan Chemicals Company processes a number of chemical compounds used in disinfecting health club fitness equipment. One compou
    12·1 answer
  • Account which shows gross profit or gross loss of the business is called​
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!