Answer:
$291,460
Explanation:
Data provided in the question:
Purchasing cost of the personal residence = $295,000
Real estate tax paid by Alice before the sale = $4,425
Property tax allocated to Alicia = $885
Property tax allocated to Rick = $3,540
Now,
Rick's basis in the residence will be
= Purchase cost - Property taxes allocated to Rick
= $295,000 - $3,540
= $291,460
Answer:
e. One advantage of forming a corporation is that equity investors are usually exposed to less liability than they would be in a partnership.
Explanation:
The investor of a corporation have limited liability. This measn their responsability is capped at their contribution. On parthership, this does not ocurs.
(c)(d) Corporation face more regulation and are harder to create than a parthership.
(b) parthenrship has unlimited liability.
Answer:
The correct answer is $70
Explanation:
Giving the following information:
$40.00 of direct materials
includes 20 parts
requires 5 hours of machine time.
Activity (Allocation Base) - Cost Allocation Rate
Materials handling (Number of parts) - $0.50 per part
Machining (Machine hours) - $14.00 per machine hour
Assembling (Number of parts) - $1.00 per part
Packaging (Number of finished units) - $2.00 per finished unit
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Machining= 14*5hours= $70
Answer:
Command
Explanation:
In the command economic model, the government determines the level of economic productions in the country. It decides what will be produced, its quantity, and the cost price. A central authority or the government owns all the factors of production.
The command economy is also the planned economy. The government plans and produces all goods and services. The private sector is not present in the command economy.
