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luda_lava [24]
3 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]3 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

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Cyclical unemployment is the fluctuating unemployment over the business cycle that increases during​ _____ and decreases during​
AURORKA [14]

Answer:

expansionary phase, recession

cyclical unemployment is an unusual phenomenon in which economy in which the economic activities in a state or country rises and falls cyclically as opposed to linear unemployment where the economy just rises and falls. When there is such increase in economic activity, there is low levels of employment and job availability and vise versa

Explanation:

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3 years ago
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Kim is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Kim is living a
Vinil7 [7]

Answer:

Explanation:

Gross income = 1070

net income = gross income - tax = 1070 - 210 = 860

payment to credit card = 128

debt payment to income ratio without college loan

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7 0
3 years ago
Which of the following taxes are paid by the employee and the employer?a. FUTAb. SUTAc. FICAd. Federal withholding taxes
Basile [38]

Answer:

The correct answer is letter "C": FICA.

Explanation:

FICA (<em>Federal Insurance Contributions Act</em>) tax is a mandatory deduction taken from employees' payment to cover elder American's Social Security and Medicare. It is a 12,4% deduction financed by two parts: half of that amount is taken from the worker's paycheck and the other half is paid by the employer.

7 0
3 years ago
"Because apples and oranges are substitutes, an increase in the price of or¬anges will cause the demand for apples to increase.
irinina [24]

Answer:

The correct answer is option a.

Explanation:

Apples and oranges are substitutes. An increase in the price of oranges will cause the demand for apples to increase. This is because people will prefer a cheaper substitute. This increase in the demand for apples will cause its demand curve to shift to the right.

The rightward shift in the demand curve will cause the equilibrium price to increase. But this change in price will not cause a change in demand. The change in price affects only the quantity demanded. Change in demand happens because of a change in other factors.

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7 0
3 years ago
Billy Bob's Barber Shop knows that a 5 percent increase in the price of their haircuts results in a 15 percent decrease in the n
Gala2k [10]

Answer:

Option (B) is correct.

Explanation:

Given that,

Percentage increase in price = 5%

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Therefore,

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Elasticity\ of\ demand=\frac{15}{5}

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Hence, elasticity of demand facing Billy Bob's Barber Shop is 3.0

6 0
3 years ago
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