Answer:
$15,000
Explanation:
Calculation to determine Clark's gain or loss on the sale of his partnership interest
First step is calculate The amount realized
Using this formula
Amount realized = ( Cash received + Relief of debt)
Let plug in the formula
Amount realized=$30,000+$25,000
Amount realized=$55,000
Now let determine Clark's gain or loss on the sale of his partnership interest using this formula
Capital gain=Amount realized-Partner's basis in the partnership
Let plug in the formula
Capital gain =$55,000 − $40,000
Capital gain =$15,000
Therefore Clark's gain or loss on the sale of his partnership interest is $15,000
Porque los humanos tienen recursos limitados pero deseos y necesidades ilimitados. Actividades realizadas por otros para nosotros. Recursos que están ampliamente disponibles y que nunca se pueden usar.
(Because humans have limited resources but unlimited wants and needs. Activities done by others for us. ... Resources that are widely available and can never be used up.)
Answer:
Depreciation expense-Year 2 = $8840
Explanation:
It is important to note that the depreciation is based on the units-of-production method and in case of the truck, we take 100000 miles as its useful life or total units of production.
The depreciable value of the truck is Cost - salvage value,
Depreciable Value = 33000 - 7000 = 26000
The depreciation for year 2 based on units-of-production is,
Depreciation expense for year 2 = 26000 * 34000/100000 = $8840
A producers profits are maximized when marginal costs are equal to marginal revenue.
I dont get it what is the meaning
