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
ELEN [110]
3 years ago
11

Two years ago, Kimberly became a 30 percent partner in the KST Partnership with a contribution of investment land with a $14,750

basis and a $22,650 fair market value. On January 2 of this year, Kimberly has a $20,700 basis in her partnership interest, and none of her pre-contribution gain has been recognized. On January 2 Kimberly receives an operating distribution of a tract of land (not the contributed land) with a $18,175 basis and an $26,075 fair market value.
a) What is the amount and character of Kimberly’s recognized gain or loss on the distribution?
b) What is Kimberly’s remaining basis in KST after the distribution?
c) What is KST’s basis in the land Kimberly contributed after Kimberly receives this distribution?
Business
1 answer:
Jlenok [28]3 years ago
7 0

Answer: A) $3,425 B)$5,950 C)$18,175

Explanation:

a)Kimberly's capital gain = land's Fair market value -non contributed land's Fair market value  = $26,075- $22,650= $3,425

b)Kimberly's basis after the distribution = basis  in KST + gain - Carryover basis in land = $20,700 + $3, 425 -  $18,175 = $5,950

c) KST's basis on the land =KST land's basis on contribution+ Kimberly's gain = $14,750+$3, 425 = $18,175

You might be interested in
Legislators may provide for special projects within their districts. This is called?
Scorpion4ik [409]

Legislators may provide for special projects within their districts. This is called Pork Barrel Politics.

The legislator's practice of slipping funding for a local project into a budget is called Pork-barrel politics. The project may have nothing to do with the bill and may benefit only the legislator's home district. Before a bill gets to a vote, pork-barreling has often greatly inflated its costs through the addition of various legislators' pet projects. In modern politics, pork-barreling and earmarking are synonymous. Fairly speaking, one politician's pork-barrel politics is another's constituent service. The annual Congressional Pig Book documenting pork-barrel projects in the federal budget is published by a nonprofit organization called Citizens Against Government Waste (CAGW).

To know more about politics brainly.com/question/18464634

#SPJ4

4 0
2 years ago
The total cost of 7 pears is 12.50. how much will 11 pears cost
vladimir1956 [14]
<span>In order to find out how much 11 pears cost we must first find out the cost of a single pear. We know 7 pears costs 12.50. If we divide the total cost, 12.50, by the total number of pears we find the price of an individual pear, 1.79. Then all we have to do is multiple 11 pears by the price of 1 pear. Our answer will be that 19.69 is the cost of 11 pears.</span>
6 0
3 years ago
Read 2 more answers
Most operating decisions of management focus on a narrow range of activity called the ______ of production.
dmitriy555 [2]

Most operating decisions of management focus on a narrow range of activity called the relevant range of production. This is further explained below.

<h3>What are operating decisions?</h3>

Generally, Decisions about daily operations are the kinds of particular business choices that are made by every company on a daily basis. There are millions upon millions of these that have been taken, and thousands upon thousands of distinct varieties. Decisions on how to operate day-to-day activities in a firm are called "operational" and are made by a variety of employees.

In conclusion, The majority of operational choices made by management center on a certain subset of activities, which is referred to as the relevant range of output.

Read more about operating decisions

brainly.com/question/7203762

#SPJ1

4 0
2 years ago
Marco is from the Mediterranean coast of Greece and Forough is from Iran. While visiting their grocery store, you notice that th
Valentin [98]

Answer:

A. polychronic

Explanation:

Polychronic. Here, they believe in doing multiple tasks at a time complementing the monochronic culture.

Polychronic cultures like to do multiple things at the same time. A manager's office in a polychronic culture typically has an open door, a ringing phone and a meeting all going on at the same time. Though they can be easily distracted they also tend to manage interruptions well with a willingness to change plans often and easily. People are their main concern (particularly those closely related to them or their function) and they have a tendency to build lifetime relationships. Issues such as promptness are firmly based on the relationship rather than the task and objectives are more like desirable outcomes than must do's.

8 0
3 years ago
Only the short-run Phillips curve is downward sloping because: a in the long run, prices adjust, eliminating the relationship be
AysviL [449]

Answer:

a in the long run, prices adjust, eliminating the relationship between inflation and unemployment

Explanation:

Philip's curve states that there is an inverse relationship between inflation and unemployment in the short run. However, in the long run, workers and consumers adapt to the new environment.

6 0
4 years ago
Other questions:
  • Based on what you know about wheel and axle simple machines, how might you manipulate the size of the axle powering the input pu
    15·1 answer
  • Credit cards are not considered part of the money supply because
    9·1 answer
  • Tivo has a great brand. why hasn’t it profitably dominated the market for digital video recorders?
    10·1 answer
  • Albert transfers land (basis of $140,000 and fair market value of $320,000) to Gold Corporation for 80% of its stock and a note
    12·1 answer
  • A company has net sales of $1,630,200 and average accounts receivable of $418,000. What is its accounts receivable turnover for
    10·1 answer
  • Diana tells crystal, “i think i’ll sell that camping gear i bought for hiking the pacific trail for $250. i’m never going to mak
    11·1 answer
  • Jana is in charge of raising money to build a new homeless shelter in her community. She has decided to write a letter to local
    11·1 answer
  • Why do religious economists believe that competition among secular viewpoints and many religions leads to increased participatio
    14·1 answer
  • Which of the following statements is correct?
    11·1 answer
  • Jacqui decides to open her own business and earns $50,000 in accounting profit the first year. When deciding to open her own bus
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!