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LenKa [72]
3 years ago
15

Jerry, a partner with 30 percent capital and profits interest, received his Schedule K-1 from Plush Pillows, LP. At the beginnin

g of the year, Jerry's tax basis in his partnership interest was $44,000. His current-year Schedule K-1 reported an ordinary loss of $9,000, long-term capital gain of $4,600, qualified dividends of $3,600, $2,100 of non-deductible expenses, a $26,000 cash contribution, and a reduction of $5,600 in his share of partnership debt. What is Jerry's adjusted basis in his partnership interest (outside basis) at the end of the year
Business
1 answer:
Ierofanga [76]3 years ago
3 0

Answer: $61,500

Explanation:

Jerry's adjusted basis in his partnership interest at the end of the year is determined by adding his cash contributions, long-term capital gain, and qualified dividends to the original tax basis.

There will also be deductions of the non-deductible expenses, ordinary loss and his share of the reduction in partnership debt.

Jerry's adjusted basis at the end of the year = ( 44,000 + 26,000 + 3,600 4,600) - ( 2,100 + 9,000 + 5,600)

= 78,200 - 16,700

= $61,500

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Which is an easy-to-read, monthly statement that clearly lists medicare claims information?.
IgorC [24]

An easy-to-read, monthly statement, that clearly lists medicare claims information is a Medicare summary notice.

<h3>What is a Medicare summary notice?</h3>

MSN is a statement received by the people with Original Medicare recipients every three months in the mail for services covered by Medicare Part A and Part B.

It is a system that notifies consumers about  Medicare benefit decisions. You will not receive an MSN for that 3-month period if you do not receive any services or emergency aid during that time.

This notification might assist you in keeping track of your and in expenses and ensuring that you were correctly invoiced for the treatments you experienced.

It also helps to compare the information on your notification with the healthcare providers', statements, and receipts.

Learn more about the Medicare summary notice, here:

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8 0
2 years ago
Joe met with all of his department heads to listen to their opinions about buying a new machine. Although they all thought it wa
balandron [24]

Answer:

A. Democratic

Explanation:

Leadership is art of guiding & motivating a group of people to achieve a common goal.

Democracy is form of governing based on considerate importance to all people's opinion in group. It is opposite of 'autocratic' governing where leader has immense power & takes decision based on only own opinion.

Joe is considering opinion of all the members of organisation, while taking a decision of purchasing a machine. He paid attention to not only opinion of department heads, but also opinion of other employees. Despite of he & department heads perceiving it to be a good idea, employees considered it to be unnecessary. Thereafter Joe didn't purchase the machine. So, his decision encompassing all people's opinion depicts Democratic Leadership.

6 0
3 years ago
MacCloud Industries has two divisions-Standard and Premium. Each division has hundreds of different types of tennis racquets and
Helen [10]

Answer and Explanation:

a. The computation of the weighted average contribution margin ratio is shown below:

The Contribution margin ratio is

= (Combined contribution ) ÷ (Sales)

= ($60,000 + $180,000) ÷ ($1,000,000)

= ($240,000) ÷ ($1,000,000)

= 0.24

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= $300,000 ÷ 0.24

= $1,250,000

We simply applied the above formula so that the correct value could come

And, the same is to be considered

3 0
3 years ago
31. If a company initially records the purchase of supplies to the supplies expende account, the mount of the adjusting entry ma
scoundrel [369]

We can actually deduce here that the amount of the adjusting entry that was made at the end of an accounting period will be equal to the supplies on hand at the end of the period.

<h3>What is accounting period?</h3>

An accounting period is actually known to be the period of time that a particular accounting function is covered. It can be a fiscal year, quarterly, monthly or even weekly.

We see here that the amount of the adjusting entry that was made at the end of an accounting period will be equal to the supplies on hand at the end of the period.

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6 0
2 years ago
Classify each of the cost items (a-i) as an inventoriable cost or a period cost
guajiro [1.7K]
The ones that count equal the a-l period cost because the inventoriable cost is the thing businesses have at period cost
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