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
xxMikexx [17]
3 years ago
6

Tyson is a 25% partner in the KT Partnership. On January 1, KT distributes $16,000 cash, inventory with a $16,000 fair value (in

side basis $8,000), and land with a fair value of $8,000 (inside basis of $12,000) to Tyson. KT has no liabilities at the date of the distribution. Tyson's basis in KT is $24,000.
What is Tyson's basis in the distributed inventory and land?


A) $8,000 inventory, $12,000 land


B) $16,000 inventory, $8,000 land


C) $0 inventory, $8,000 land


D) $8,000 inventory, $0 land
Business
1 answer:
Marianna [84]3 years ago
4 0

Answer:

D) $8,000 inventory, $0 land

Explanation:

Tyson's basis in the distributed inventory and land will be $8,000 inventory, $0 land

Because he initially first allocates his outside basis to the assets distributed which is in an amount that is equal to KT's basis which is ($20,000 cash and $8,000 land).

Therefore this results in a required decrease of $0 due to the basis he reduces in the land by the required decrease, which thereby results in a basis of $0 to the land.

You might be interested in
Which of the following statements is correct with respect to economic incentives to release financial information?
makvit [3.9K]

Answer:

B

Explanation:

If investors do not have adequate information about the company they are investing, they would demand an higher rate of return. This would increase the cost of raising capital. So, financial managers who want to raise capital at a cheap rate would have the incentive to disclose information

8 0
3 years ago
A popular television program called the swan aimed to turn less visually appealing people into more socially acceptable ones by
Sati [7]
<span>This is an example of, "medicalization and the social construction of health and illness".

</span><span>Medicalization is examined from a sociologic point of view regarding the part and energy of experts, patients, and enterprises, and furthermore for its suggestions for ordinary individuals whose self-character and life choices may rely upon the overall ideas of health and illness.
</span>
3 0
3 years ago
Armando has a summer job hand-dyeing shirts that will be sold on the boardwalk. He is paid $5.00 per shirt. Armando is being pai
netineya [11]

Answer:

Pay for Performance

Explanation:

Pay for Performance is the strategy which is being referred to as the pay strategy where the evaluations or computations of the individual or the business performance have the influence on the pay amount bonuses or the increases provided to each and every employee.

So, in this case, the person is paid on the performance of the person as he will be paid on the $5 per shirt.

7 0
3 years ago
What change could be considered an effective sign of economic recovery from the Great Recession?
pogonyaev

Answer:

The answer is C. architecture and construction industry demonstrating a sustainable level of growth

4 0
3 years ago
A regulatory agency that protects workers is
bagirrra123 [75]

Answer:

answer is A

Explanation:

6 0
3 years ago
Other questions:
  • What High School did LeBron James go to?
    6·2 answers
  • The practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time is refe
    14·1 answer
  • Who is responsible for participating in the discussion at a performance review?
    7·2 answers
  • a firm in a perfectly competitive industry is producing 1000 units of output and earning revenues of 50000. At that level of out
    6·1 answer
  • In a negotiation, to allow for concessions, the expectations expressed in the seller team's opening position should be:
    14·1 answer
  • On the crossover chart where the costs of two or more location alternatives have been plotted, the quantity at which two cost cu
    13·1 answer
  • Egan is very skilled at budgeting his money, he is very patient, he understands how to track his own financial records, and he k
    14·2 answers
  • Jordan loves creating short films using his phone camera and small posable figures. He has learned how to edit the videos so tha
    5·2 answers
  • What is the difference between reliability for quantitative research and reliability for qualitative research?
    12·1 answer
  • Your rich aunt has promised to give you $2,000 per year at the end of each of the next four years to help you pay for college. U
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!