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
viktelen [127]
2 years ago
7

Hilary had an outside basis in LTL General Partnership of $10,000 at the beginning of the year. LTL reported the following items

on Hilary's K-1 for the year: ordinary business income of $5,000, a $10,000 reduction in Hilary's share of partnership debt, a cash distribution of $20,000, and tax-exempt income of $3,000. What is Hilary's adjusted basis at the end of the year
Business
1 answer:
topjm [15]2 years ago
3 0

Answer:

Hilary's adjusted basis at the end of the year $0

Explanation:

Hillary's base in general business income and tax-free income grows and then deducts . He understood the cash flow from his original cash disbursement and partnership debt reduction.  Hillary must report a capital gain of $ 12,000 on a zero interest basis in her partnership interest, since his actual and perceived cash distribution exceeds his base after raising it through a positive adjustment for the year.

$10,000 + $5,000 - $3,000 - $10,000 - $2,000  = 0

You might be interested in
What are the four instruments of exchange
kherson [118]

Answer:

BILL OF EXCHANGE. A payment method used in international trade that allows for a period of credit.

CHEQUE. A written instruction to a bank to transfer a certain sum to the account of the payee.

MONEY ORDER. ...

BANK DRAFT. ...

DEBIT CARD. ...

CREDIT CARD. ...

ELECTRONIC FUNDS TRANSFER. ...

DOCUMENTARY CREDIT.

4 0
2 years ago
Hinkle Corporation buys on terms of 2/15, net 60 days. It does not take discounts, and it typically pays on time, 60 days after
Readme [11.4K]

Answer: $90,411

Explanation:

Average Accounts payable = Net Purchases * Average collection period / 365

Average collection period is 60 days

Net Purchases as stated is $550,000

Average accounts payable = 550,000 * 60 / 365

= 90,410.9589

= $90,411

8 0
2 years ago
Do you think celebrities should weigh in on politics? Why or why not?
Nina [5.8K]

Answer:

I don't there should be a problem with celebrities weighing in on politics.They are human right? I mean everyone has the right to say who they want to vote for. The only problem there might be is celebrities may impact the views of younger adults before they even know the people running and the opinions.

Explanation:

7 0
3 years ago
The inflation rate is measured by calculating the percentage change in the consumer price index. True or False
kkurt [141]

Answer:

true

Explanation:

the consumer price index measures the average prices of a basket of goods and services, it includes housing costs, food, medical care, transportation, educational expenses, etc.

The current price of the CPI basket can be used to measure inflation by comparing it to the price of last year's basket ,or if you go a little further, you can compare it to the base year's basket of goods.

5 0
2 years ago
Answer the question on the basis of the following data for the hypothetical nations of Alpha and Beta. Qs is domestic quantity s
bezimeni [28]

Question Completion:

Domestic Market for Steel, Alpha

Qs P Qd

60 5 10

40 4 20

30 3 30

20 2 40

10 1 50

Domestic Market for Steel, Beta

Qs P Qd

80 5 20

70 4 30

60 3 40

50 2 50

40 1 60

Answer:

Assuming that Alpha and Beta are the only two nations in the world, at the equilibrium world price:

Beta will export steel and Alpha will import steel.

Explanation:

a) Data and Calculations:

Domestic and World Market for Steel

Alpha                   Beta           World Market

Qs    P      Qd       Qs    P      Qd       Qs    P       Qd  

60    5        10       80    5       20      140    5       30

40    4       20       70    4       30       110     4       50

30    3       30       60    3       40       90     3       70

25   2.50  35       55    2.50  45       80    2.50  80

20   2       40       50    2       50        70    2       90

10   1       50        40    1        60       50     1       110

b) In the world market, equilibrium will occur at a price of $2.50, when the quantity supplied and demanded will be 80.  At this equilibrium price of $2.50, Alpha will supply 25 units, and Beta will supply 55 units.  Alpha will demand 35 units, and Beta will demand 45 units.  This implies that Beta will supply more than its demand for steel, while Alpha will supply less.  Therefore, Beta will export steel and Alpha will import steel.

4 0
3 years ago
Other questions:
  • Presto company purchased equipment and these costs were incurred: cash price $65,000 sales taxes 3,600 insurance during transit
    10·1 answer
  • When a team consists of members who come from different functional areas, with different areas of expertise, different informati
    6·1 answer
  • Calculating Future Values [LO1] Gold Door Credit Bank is offering 9.3 percent compounded daily on its savings accounts. If you d
    11·1 answer
  • Elisa ran 34 miles more than Darryl last week. Elisa ran 49 miles. How many miles did Darryl run?
    15·2 answers
  • After you are done taking notes from a speaker, you should _____.
    12·2 answers
  • During the 1990s, consumers started to drink bottled water instead of soft drinks. The Coca-Cola Company and PepsiCo decided to
    8·1 answer
  • 15 points please help
    13·1 answer
  • In cell H4, calculate the donation amount by multiplying the Streaming Revenues by the percentage in cell I1, using absolute ref
    7·1 answer
  • Jay, a divisional vice president of a consumer goods manufacturer, gives a presentation to all divisional employees to outline t
    10·1 answer
  • Job __________ is to increasing variety by moving employees from job to job, as job _______ is to increasing variety by combinin
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!