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olga55 [171]
3 years ago
14

Scott is a 50% partner in the LS Partnership. Scott has a basis in his partnership interest of $84,000 at the end of the current

year, prior to any distribution. On December 31, Scott receives an operating distribution of $9,000 cash and a parcel of land with a $21,000 fair market value and a $12,000 basis to the partnership. LS has no debt or hot assets. What is the amount and character of Scott's recognized gain or loss
Business
1 answer:
SVETLANKA909090 [29]3 years ago
7 0

Answer:

A. No gain or loss

B. Cash $9,000

Land $12,000

C. $63,000

Explanation:

A. Based on the information given he RECOGNIZES NO GAIN OR LOSS

B. Based on the information given his basis in the distributed property will be basis of $9,000 cash and basis of $12,000 land

C. Calculation to determine his ending basis in his partnership interest

Ending basis=$84,000 - $9,000 - $12,000

Ending basis =$63,000

Therefore his ending basis in his partnership interest will be $63,000

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Answer:

$4,807.69

Explanation:

The first step is to calculate the requirement for coinsurance

= 80/100 × 130,000

= 0.8× 130,000

= 104,000

Therefore the amount in which the insurance person will pay can be calculated as follows

= 100,000/104,000 × 5000

= 0.96153×5000

= $4,807.69

7 0
3 years ago
If you put off making a decision or performing a task, you are _______.a.Weightingb.Prioritizingc.Analyzingd.Procrastinating
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Procrastinating, the others are almost antonyms
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3 years ago
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How should an organization design its structure and culture to obtain a core competence in manufacturing and in research and dev
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Answer and Explanation:

core competency of an organization comprise it's multiple resource, capabilities and skills that gives it a competitive advantage in the market. It was originated in management theory by C. K. Prahalad and Gary Hamel.

For an organization to have core competencies in manufacturing and also research and development putting it's organizational structure and culture to use, it has to:

create a flexible and somewhat independent structure for it's research and development department such that innovation is easy. Control must be decentralized and the team must come first

For the manufacturing department, an organic and participative approach should be encouraged. This would allow inclusive management such that workers are included in decision making processes. Managers should also be given more independence while workers should increasingly be empowered

the organization should also take stringent measures in employing the right people for the research and development as well as the manufacturing department such that these individuals are qualified and possess the needed expertise for their areas. Staff should equally be empowered through constant education and new skill acquisitions and be allowed to impart this knowledge on other staff by encouraging transfers in global expansion.

6 0
4 years ago
How is a subsidy affect supply.
OlgaM077 [116]
How does a subsidy affect supply?
A subsidy by nature increases the purchasing power of the individual or class it is awarded to. It's like free money that can only be spent on certain things.
8 0
3 years ago
Adkins Bakery uses the modified halfminusmonth convention to calculate depreciation expense in the year an asset is purchased or
nirvana33 [79]

Answer:

The correct answer is $9187.5.

Explanation:

According to the scenario, the given data are as follows:

Asset cost = $140,000

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Annual depreciation = ( Asset cost - Residual value) ÷ Life period

= ($140,000 - $42,000) ÷ 8

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