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
vovikov84 [41]
3 years ago
9

Jerry, a partner with 30% capital and profit interest, received his Schedule K-1 from Plush Pillows, LP. At the beginning of the

year, Jerry's tax basis in his partnership interest was $50,000. His current year Schedule K-1 reported an ordinary loss of $15,000, long-term capital gain of $3,000, qualified dividends of $2,000, $500 of non-deductible expenses, a $10,000 cash contribution, and a reduction of $4,000 in his share of partnership debt. What is Jerry's adjusted basis in his partnership interest at the end of the year?
Business
1 answer:
Kisachek [45]3 years ago
5 0

Answer:

The Jerry's adjusted basis in his partnership interest at the end of the year is $45,500

Explanation:

The adjusted basis of Jerry in his partnership is shown below:

= Partnership interest - Ordinary loss + long term capital gain + dividend - non deductible expense + cash contribution - share reduction

= $50,000 -$15,000 + $3,000 + $2,000 - $500 + $10,000 -$4,000

= $45,500

The ordinary loss, share reduction, and non deductible expense would decrease the Jerry interest in partnership firm while all other cost would increase his interest. That's why the amount is added and subtracted.

Hence, the Jerry's adjusted basis in his partnership interest at the end of the year is $45,500

You might be interested in
Compare the company profit performance and financial position with the average for the industry
Lady bird [3.3K]

Answer:

what average for the industry

Explanation:

can i have a choise

6 0
2 years ago
Shaila wants to add new tabs to her PowerPoint. She selects New Tab and renames it. She then starts adding the terms Bring Forwa
m_a_m_a [10]
I think the answer is D, but I may be wrong. The reason why is Shaila needs PowerPoint to check her grades to ease all the work.She may just add it into the main tabs.
5 0
3 years ago
Read 2 more answers
When writing a message to express condolences, you should mention the loss tactfully, recognize the good qualities of deceased,
Romashka-Z-Leto [24]

When writing a message to express condolences, you should mention the loss tactfully, recognize the good qualities of deceased, assure the receiver of your concern, offer assistance, and <u>conclude on a reassuring note.</u>

Explanation:

Certain points that are to be kept in Mind when writing a  Condolence Messages  are:

  • Don't unintentionally say the wrong thing in a sympathy message
  • The Condolence message should be short and crisp
  • In the message try to recall a funny memory of the deceased.
  • In the message ,you should not simply sign rather mention your full first and surname.
  • Don't mention any financial obligation of the deceased or offer any financial help
  • Don't try to offer any other help like cooking a good meal

Thus we can say that ,When writing a message to express condolences, you should mention the loss tactfully, recognize the good qualities of deceased, assure the receiver of your concern, offer assistance, and <u>conclude on a reassuring note.</u>

3 0
3 years ago
In the money creation process, the simple money multiplier assumes that banks hold no excess reserves. What is the consequence o
Alinara [238K]

Answer:

If banks hold excess reserves, then the money multiplier will be smaller.

Explanation:

It is easier to understand using an example:

required reserve rate = 5%

money multiplier = 1 / 5% = 20

if $100 are injected in to the economy and they are deposited in the banking system, the money supply will increase by $100 x 20 = $2,000. But this calculation only works if banks lend 100% of the loanable funds, but if instead banks only lend $90, instead of $95 ($100 x 95%), then the money multiplier will be 1 / 10% = 10. In this case, the money supply will only increase by half

7 0
3 years ago
A company is considering two projects.
zlopas [31]

Answer:

Option (B) is correct.

Explanation:

Given that,

Project 1:

Initial investment = $120,000

Cash inflow Year 1, Year 2, Year 3, Year 4, Year 5 = $40,000

Hence,

Annual cash flow = $40,000

Payback period:

= Initial investment ÷ annual cash inflow

= $120,000 ÷ $40,000

= 3 years

Therefore, the payback period for Project I is 3 years.

6 0
3 years ago
Other questions:
  • Product innovation refers to efforts to create designs and applications of technology to develop new products, while __________
    10·1 answer
  • Zippy had cash inflows from operations $60,500; cash outflows from investing activities of $47,000; and cash inflows from financ
    8·1 answer
  • As you get older, a Target Date Fund will adjust by…
    5·1 answer
  • Five independent projects are available for a small manufacturing company. Which projects should be selected if initial investme
    9·1 answer
  • As a manager for a company that is looking to expand to China, what should your company focus on?
    14·1 answer
  • The economy of Suielevia is under severe financial distress. Over the last few months, the economy has gradually picked up and t
    14·1 answer
  • Poodle Corporation was organized on January 3, 2018. The firm was authorized to issue 98,000 shares of $5 par common stock. Duri
    13·1 answer
  • I accidentally click on the wrong subject sorry... The quality of any writing in a graphic is less important than that in the bo
    15·1 answer
  • Methods of short-term financing include?
    12·1 answer
  • Need help ASAP!
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!