Ed is a debtor. Financial Loans, Inc., and the government are Ed’s creditors. For these parties, a bankruptcy proceeding under Chapter 13 could be initiated by the filing of a petition by (A) Ed alone or by his creditors jointly.
Here are the following choices:
<span>A. Ed alone or by his creditors jointly.
B. Ed only.
C. Financial Loans only.
D. the government only.</span>
Answer:
Settlement Date
Explanation:
The broker is expected to be notified on the date which the cash or assets has been transferred has been completed. The settlement date simply refers to the date that the trade or sales of shares of stock settles, and thus when using specific identification rather than FIFO, the broker dealer must be notified no later than the settlement date for cost basis reporting.
Employers look for hard working workers that will get the job done in the smartest most efficient and effective way.
Answer:
$62,000
Explanation:
Calculation to Determine Barnaby's basis at the end of the tax year
Using this formula
Ending tax year Barnaby's basis in the partnership=[BBB Partnership basis+( Share of debt-Share of partnership debt)+ Share of Partnership's income +Share of partnership's nontaxable income-Cash distributions]
Let plug in the formula
Ending tax year Barnaby's basis in the partnership =$50,000 + ($8,000-$5,000) + $20,000 + $1,000 - $12,000
Ending tax year Barnaby's basis in the partnership =$50,000 + $3,000 + $20,000 + $1,000 - $12,000
Ending tax year Barnaby's basis in the partnership = =$62,000
Therefore Barnaby's basis at the end of the tax year will be $62,000
