Answer:
(A) $10,000
Explanation:
The beginning of the partnership basis for tax purposes consists of all the money paid to the partnership which is $10, 000. The comission fee $1,000, the up-front costs which are $500 for legal expenditures, and $500 for organization costs are all included in the $10000 price and are integral part of the beginning basis. There are no up front deductions for these costs.
Adjustments to the beginning basis will occur after the partnership's first year of operations. At that point, a K-1 is issued, showing that partner's share of partnership income and loss; and any cash distributions made by the partnership or additional cash contributions made to the partnership. All of these items are netted against the beginning basis to arrive at the year-end adjusted basis. So the customer's beginning tax basis is $10,000.
Answer:
Doris wants to learn how to write poetry.
Misty wants to take a class to learn about different cultures.
Explanation:
Identify the examples of interests. Check all that apply.
Doris wants to learn how to write poetry.
Misty wants to take a class to learn about different cultures.
Leroy is well liked by his classmates.
Marcus treats other people with respect.
Cora works hard.
Answer:
1. NOT INCLUDED IN THE GDP, TREETOPPLERS PRODUCES INTERMEDIATE GOODS, NOT FINAL GOODS.
2. NOT INCLUDED IN THE 2017 GDP, IT WOULD BE INCLUDED IN THE 2018 GDP SINCE THE SERVICE WAS FINISHED IN APRIL 2018.
3. INCLUDED IN THE GDP, A HAMBURGER IS A FINAL GOOD THAT FALLS UNDER PRIVATE CONSUMPTION.
4. NOT INCLUDED IN THE GDP, IMPORTS ACTUALLY DECREASE THE GDP SINCE THEY DECREASE NET EXPORTS.
5. INCLUDED IN THE GDP, A TABLE IS A FINAL GOOD THAT FALLS UNDER PRIVATE CONSUMPTION.
Answer:
#See attached photos of both the Jan 1,2018 journal entry and the bond ammortization schedule.
Explanation: