Answer:
b. $1,000
Explanation:
Basis at the beginning of the year $10,000
Less cash received $6,000
=$4,000
Distributive share of income is $5,000
Less land distribution with a basis of $8,000
=$3,000
Hence:
$4,000-$3,000
=$1,000
Therefore Beth’s partnership interest basis at the end of the year will be $1,000
I think the answer is false, if it’s not I’m so sorry
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Answer:
The sales budget
Jefferson Sports Medicine, Inc budgets sales budget (Amounts in $)
Months
Physical examination July August September Total
Basic physical 13,200 14,100 6,300 33,600
Extended physical 25,650 27,000 14,850 <u>67,500</u>
<u> 101,100 </u>
Explanation:
The sales expense shows the forecasted of sales from the various types of physical examination for a given period. These include the sales expected from Physical examination. The sales are the products of the charge per examination and the number of examinations conducted. It may be computed as follows;
July;
Physical examination
= $60 * 220
= $13,200
Extended physical
= $135 * 190
= $25,650
August
= $60 * 235
= $14,100
Extended physical
= $135 * 200
= $27,000
September
= $60 * 105
= $6,300
Extended physical
= $135 * 110
= $14,850