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
luda_lava [24]
2 years ago
7

At the beginning of the year, Heather's tax basis capital account balance in the HEP Partnership was $85,000. During the tax yea

r, Heather contributed property with a basis of $6,000 and a fair market value of $10,000. Her share of the partnership's ordinary income and separately stated income and deduction items was $40,000. At the end of the year, the partnership distributed $15,000 of cash to Heather. In addition, the partnership allocated $12,000 of recourse debt and $10,000 of nonrecourse debt to Heather. What is Heather's ending capital account balance determined using the tax basis method
Business
1 answer:
andreev551 [17]2 years ago
5 0

Answer:

$116,000

Explanation:

Heather’s beginning capital account balance of $85,000

Add basis of the property contributed $6,000

Add Share of partnership income $40,000

Less Partnership distributed ($15,000)

Ending capital account balance $116,000

You might be interested in
When BBG Inc. was preparing to roll out a new performance management system, Kayla, the human resource executive, insisted that
Vedmedyk [2.9K]

Answer:

If workers see productivity assessments as reasonable, they are more likely to follow the suggestions, in plain words. There seems to be a book called 'the 4 execution styles' in which the writer discusses the significance of indicators in team results. Keeping in consideration the measures help us to evaluate and respond to the institution's demanded goals.

 

4 0
3 years ago
Which of the following statements represent the appropriate directional relationships between the concepts of inherent risk, con
luda_lava [24]

Answer:

b. As inherent risk goes up, audit risk goes down.

Explanation:

Inherent risk is the risk which is present before applying any control, and audit risk is the that the auditor expresses inappropiate audit opinion when the financial statements are materialy misstated.

Thus, when the inherent risk is <em>high</em>, the auditor keeps the audit risk at <em>low </em>level to perform more subtantative procedures.

8 0
3 years ago
Rachel's health insurance plan requires that all tests and specialist visits be approved by her doctor. Rachel, most likely, has
lukranit [14]
The answer is b hope this helps 


3 0
2 years ago
Read 2 more answers
The president of the Micro Brewing Corporation asks you, as the company economist, to forecast changes in consumer beer purchase
umka21 [38]

Answer:

It is more profitable to raise the selling price by $2.

Explanation:

To determine whether the company should raise the selling price, we need to determine the effect on income. <u>The best option is the one with the higher sales revenue.</u>

Sales revenue= selling price * number of units

<u>Current:</u>

Sales revenue= 5.5*2,200= $12,100

<u>Proposal:</u>

Sales revenue= 7.5*1,800= $13,500

It is more profitable to raise the selling price by $2.

7 0
3 years ago
A wedding party hired a sole proprietorship to cater their wedding. In this situation the sole proprietorship is a partnership,
Kruka [31]

Answer:

False

Explanation:

A sole proprietorship is owned and managed by a single person. The owner is responsible for all the decisions and actions of his or her business. The owner may hire workers to assist in running the business. The workers remain workers and not partners in the business.

The law does not distinguish between the business and the owner. Any liabilities arising from the business are considered to be the owner's liability. In this wedding situation, the sole proprietor is solely responsible for the mistakes of his assistant.

7 0
3 years ago
Other questions:
  • While discussing their marketing campaign for a new product, the members of the cross-functional team responsible for Carver Inc
    13·2 answers
  • How theory and thinking on innovation and creativity can contribute to applied practice ​
    15·1 answer
  • The system that compares trades of nasdaq issues and reports the trades to the network c tape is called:
    8·1 answer
  • a company saw a drop in sales after negative publicity around a scandal involving safetry reports. the strategic changes the com
    15·1 answer
  • Ricardo wants to study the academic performance of graduate students in the u.s. first, he decides that he will study schools in
    7·1 answer
  • When customer service problems occur and the culture is not customer-focused, the important question for the organization is "Ho
    9·2 answers
  • Violet is putting together a cross-functional team to do a high-level analysis of the organizational structure. She explains to
    10·1 answer
  • Free 100 points + brainliest to Ambitious or below, will not give brainliest if higher than amb
    7·2 answers
  • We opened the doors to Data Driven Donuts last year. What type of analysis tells us how we performed the first year?
    6·1 answer
  • Apr. 8 Sold merchandise for $9,500 (that had cost $7,021) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4%
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!