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Novay_Z [31]
3 years ago
5

Gerald received a one-third capital and profit (loss) interest in XYZ Limited Partnership (LP). In exchange for this interest, G

erald contributed a building with an FMV of $31,000. His adjusted basis in the building was $15,500. In addition, the building was encumbered with a $9,300 nonrecourse mortgage that XYZ LP assumed at the time the property was contributed. What is Gerald's outside basis immediately after his contribution
Business
1 answer:
olchik [2.2K]3 years ago
7 0

Answer:

The appropriate answer is "$9,300".

Explanation:

The given values are:

FMV,

= $31,000

Adjusted basis,

= $15,500

Encumbered mortgage,

= $9,300

Now,

The Gerald's outside basis will be:

= Adjusted \ basis-Encumbered \ mortgage+Share \ of \ mortgage

On substituting the given values, we get

= 15,500 - 9,300+(\frac{9,300}{3})

= 15,500 - 9,300 + 3,100

= 18,600-9,300

= 9,300 ($)

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Answer:

The question is incomplete, there is one option that remains missing. The option missing is:

Its customer value proposition as well as the company's profit formula.

And that is correct answer.

Explanation:

To begin with, the term known as "business model" refers to the specific course of action that a group of people have established to be the way that they will use in order to make a business and obtain a profit from it. Therefore that the most important elements of these model tend to be the customer value proposition as well as the company's profit formula given the business stated. Moreover, the business model is characterized as well for identifying the company's target audience and the product or service that they are planning to sell.  

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When a reasonable probability exists that the product will cause or lead to serious harm or even death, how is the FDA drug reca
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Answer:

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4 years ago
A good percentage to start with for saving is ________________ percent of your teaching income.
Alja [10]

A good percentage to start with for saving is. At least 20% percent of your teaching income

The term "revenue" generally refers to the transfer of money, property, and other value received over a period of time in exchange for services or products. There is no single standard definition. Income is defined according to the context in which the concept is used.

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2 years ago
Bayest Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead
Lemur [1.5K]

Answer:

$ 44000

Explanation:

Given:

Actual overhead manufacturing cost, Ac = $ 352000

Actual direct labor hours, Ah = 56000

Estimated manufacturing overhead cost, Ec = $ 330000

Estimated direct labor hour, Eh = 60000

Now,

Predetermined Overhead Rate = Ec/Eh

on substituting the values in the above formula we get

= $ 330000/60000 = 5.5

also,

Underapplied Overhead = Ac + (Ah × Predetermined Overhead Rate)

on substituting the values in the above formula we get

Underapplied Overhead = 352000 - (56000 × 5.5)

or

Underapplied Overhead = $ 44000

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3 years ago
The management of Byrge Corporation is investigating buying a small used aircraft to use in making airborne inspections of its a
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