Answer
1, 2018. Accounts payable Br. 23,100 Land Br. 90,000 Accounts receivables 52,000 Notes payable 100,900 Building 54,800
Explanation:
Answer: B. $5,000 inventory, $0 accounts receivable
Explanation:
Daniel's basis in JRD is $21,000
Inventory fair value is $16,000
$21,000 - $16,000 = $5,000
Accounts receivable inside basis is $0.
Inside basis is basically each partner's tax basis in the partnership.
