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
Simora [160]
3 years ago
6

vProblem 10-4 Partnership Formation (LO 10.2) Elaine's original basis in the Hornbeam Partnership was $40,000. Her share of the

taxable income from the partnership since she purchased the interest has been $70,000, and Elaine has received $80,000 in cash distributions from the partnership. Elaine did not recognize any gains as a result of the distributions. In the current year, Hornbeam also allocated $1,000 of tax-exempt interest to Elaine. Calculate Elaine's current basis in her partnership interest. $fill in the blank 1
Business
1 answer:
Alex3 years ago
7 0

Answer: $31000

Explanation:

Elaine's current basis in her partnership interest will be calculated as:

= Value of original basis + (interest purchased - Cash received) + tax exempt interest

= $40000 + ($70000 - $80000) + $1000

= $40000 - $10000 + $1000

= $31000

You might be interested in
David is buying a new car for $21,349.00. He plans to make a down payment of $3,000.00. If he's to
marshall27 [118]

Answer: (D) 5.90%

Explanation: David is going to buy a new car at $21,349.

The down payment is $3,000.

Loan amount (Present value) = $21,349 - $3,000

Loan amount (Present Value) = $18,349

Installment amount (pmt) = $352

As the payment is made monthly (12 months in a year),

Number of payments = 5 * 12

Number of payments = 60

Using the rate option in excel,

=rate(nper,pmt,-pv,fv,type)

Insert the variables into the option, we get

=rate(60,352,-18349)

By inserting the above formula in excel we get,

Rate = 0.47%

Rate of 0.47% is monthly, to get APR

APR = (1+monthly rate)^12 - 1

APR = (1+0.0047)^12 - 1

APR = (1.0047)^12 -1

APR = 1.0586 - 1

APR = 0.0586

APR = 5.86% or 5.90%

Therefore the correct option is 5.90%.



8 0
3 years ago
List three things you can do to improve job satisfaction
andrew-mc [135]

1. Respectful treatment of all employees at all levels

2. Trust between employees and senior management

3. Job security

Hope that helps :)

7 0
3 years ago
Read 2 more answers
Divide the following by short division:<br> 3) 186
Goryan [66]

Answer:

62

Explanation:

I first divided 3 into 180 which is 60 because 18 divided by 3 is 6 and then you add back on that 0 getting to 60.  Then for the 6, divide that by 3, which is 2 which you add to the 60 getting to 62.

I hope this helps and please don't hesitate to ask if there is anything still unclear!

7 0
3 years ago
King Nothing is evaluating a new 6-year project that will have annual sales of $410,000 and costs of $284,000. The project will
motikmotik

Answer:

Option (a) is correct.

Explanation:

Given that,

Sales = $410,000

Costs = $284,000

Depreciation Expense =  $510,000 × 0.1920]

                                     = $97,920

Therefore,

Operating Cash Flow:

= [(Sales - Variable Costs - Fixed Costs) × (1 - Tax Rate)] + [Depreciation × Tax Rate]

= [($410,000 - 284,000) × (1 - 0.35)] + [$97,920 × 0.35]

= [$126,000 × 0.65] + [$97,920 × 0.35]

= $81,900 + $34,272

= $1,16,172

7 0
3 years ago
On October 1st Joe charged $900 to his credit card, on October 10th he charged another $1,300 to his credit card, and on October
poizon [28]

Answer:

interest expense for October $ 27.25

Explanation:

       900

+  1,300 x 20/30

<u> +     100 x 15/30    </u>

1,816.67 average balance

Now we multiply this average balance by the interest rate of the credit card:

1,816.67 x 0.18/ 12 = 27.25

4 0
3 years ago
Other questions:
  • Elegance Bath Products, Inc. (EBP) makes a variety of ceramic sinks and tubs. EBP has just developed a line of sinks and tubs ma
    5·1 answer
  • What are the underlying reasons for the law to continue to make distinctions between real and personal property, intangible and
    12·1 answer
  • What is the multifactor productivity for Space Z Inc. using the following data?
    7·1 answer
  • Jacob applied for the position of a correspondent at The News Curator, a news agency in New Orleans, after he graduated. The new
    10·1 answer
  • Mineral-rich Zambia is one of the world's most important sources of uranium. It also is a source of copper, tin, diamonds (mainl
    11·1 answer
  • Carter Company reported the following financial numbers for one of its divisions for the year; average total assets of $4,130,00
    10·1 answer
  • Consider a perfectly competitive market in which all firms have the same costs. Choose the statement that is incorrect.
    15·1 answer
  • _______ involves the process of defining the marketing mix variables so that target customers have a clear, distinctive, desirab
    8·1 answer
  • Under the Federal Insurance Contributions Act, where do the funds for Social
    13·1 answer
  • The purpose of an expansionary monetary policy is to shift the.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!