Michael's adjusted basis in the MW Partnership was $20,000 at the time he received the following nonliquidating distribution: Cash of $5,000 Equipment with an adjusted basis to the partnership of $8,000 and a fair market value of $10,000. What is the gain/loss Michael will recognize on this transaction

Answers

Answer 1

The appropriate solution of the given question "$15,000". A further explanation is provided below.

According to the question, the values are:

Partnership,

= $20,000

Cash received,

= $5,000

Adjusted basis,

= $8,000

Fair market value,

= $10,000

hence,

→ The Michael's adjusted basis in the partnership will be:

= [tex]Basis \ in \ partnership- Cash \ received[/tex]

= [tex]20,000-5,000[/tex]

= [tex]15,000[/tex] ($)

Thus the above is the right answer.

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Related Questions

David, the Sales Manager of Quality Homes Inc., noticed that his sales were significantly lower last quarter, which was particularly odd since sales have had an upward trend for the past few years. David conducted an analysis of the sales reps in his region and discovered that many of them were not meeting their minimum quotas. What aspect of the marketing control process has David utilized

Answers

Answer:

Sales analysis

Explanation:

A sales analysis is the detailed report that represent the sales performance of the business, the date of the customer and produced the revenue. It shows the strength and weakness of the product and the sales team by taking reference of historical and present metrics in order to identify the trends that relevant to the company

So as per the given situation, the david utilized the sales analysis

What type of trading earns you money when you accurately predict that a stock will lose value? Ticker parade Yielding Charting Trading bonds Going long Holding Selling short

Answers

Answer:

Selling short

Explanation:

Selling short is the answer,it simply means that an investor or a trader will make profit when prices of commodities goes down. In other words it the opposite of going long where investors make money when prices rise up

The LIFO reserve is the difference between the inventory valuation as reported under: Multiple choice question. LIFO and the amount that would have been reported under weighted-average. FIFO and the amount that would have been reported under LIFO. weighted-average and the amount that would have been reported under LIFO. LIFO and the amount that would have been reported under FIFO.

Answers

Answer:

One Of Them, I Think, Is Called The LIFO reserve

Explanation:

Before you move forward, summarize the changes you will need to make to your new budget. Describe these changes in at least two sentences.

Answers

Answer: yes

Explanation:

The right answer on edge is: I need to change my budget so that I save at least $300 per month. Over twelve months, this will increase my savings by $3,600. I also need to change my budget to save for a new computer, so I need to save an extra $100 a month for that. In total, I need to save $400 a month.

Answer:

The right answer on edge is: I need to change my budget so that I save at least $300 per month. Over twelve months, this will increase my savings by $3,600. I also need to change my budget to save for a new computer, so I need to save an extra $100 a month for that. In total, I need to save $400 a month.

Explanation: I just did the test an got a 100

Match each government agency with one of its major activities.

Answers

Answer:

u.s treasure department: issues government bonds

federal reserve bank (fed): buys and sells bonds on the open market

securities and exchange commission (sec): protects investors ageinst found.

IS 100 POINTS will mark brainliest
Keep track of your income and expenses for one month. List all your assets and liabilities (debts owed) in a spreadsheet. Based on these documents, develop a monthly budget and a net worth statement.

Answers

Answer: Asset could be what you need for your business such as Land, equipment, ect... A liability is something that a person or company owes, such as money. Sometimes that money can be exchanged for good and/or property. I am doing this same assignment and you don't have a business so this is all imaginary

Explanation:

Find out the municipal taxes you are subjected to. Calculate your average annual tax payments to your municipality.

(I'm not sure what this question for my online financial class is asking, can someone help?)

Answers

Answer:

I conducted an online research on the state of Virginia. The state of Virginia has 95 counties, 39 independent cities, and 190 incorporated towns. Only elected governing bodies can impose local taxes in this state of Virginia. A bulk of the local tax money comes from property taxes.

The following is the list of municipal taxes a consumer in all counties and cities of the state of Virginia is subjected to:

Items Tax Percentage Districts

Retail sales tax 0.7%

Occupancy tax 2.1% only for the Northern Virginia Planning District

Fee on grantors of real estate $0.15 to $100 of the value of property sold only for the Northern Virginia Planning District

Wholesale distributors of motor fuel 2.1% Hampton Roads Planning District

Restaurant meal 1%

Communication taxes 1.05%

Motor vehicle rental tax 4%

Explanation:

I conducted an online research on the state of Virginia. The state of Virginia has 95 counties, 39 independent cities, and 190 incorporated towns. Only elected governing bodies can impose local taxes in this state of Virginia. A bulk of the local tax money comes from property taxes.

The following is the list of municipal taxes a consumer in all counties and cities of the state of Virginia is subjected to:

Items Tax Percentage Districts

Retail sales tax 0.7%

Occupancy tax 2.1% only for the Northern Virginia Planning District

Fee on grantors of real estate $0.15 to $100 of the value of property sold only for the Northern Virginia Planning District

Wholesale distributors of motor fuel 2.1% Hampton Roads Planning District

Restaurant meal 1%

Communication taxes 1.05%

Motor vehicle rental tax 4%

Which of the following is NOT a useful strategy when making an informed purchase?

1.Compare your option to similar products.
2.Calculate the unit price of the product.
3.Read the online reviews of the product and ask trusted friends who use it.
4.Purchase a product based on a social media influencer.

Answers

The answer is 4, purchase a product based on a social media influencer.

this would not be an informed purchase

What determines which price the company should choose for its running shoes?

Answers

Answer:

the price that can be affordable for every one and it should be by the opinion of the common people and labours

The senior managers of Clockence, a clock manufacturing company, have a disagreement about the quantity of inventory to be allotted to each production team. Each of them views the problem differently, but they are willing to discuss it and arrive at the best possible solution. In this scenario, the conflict among the senior managers at Clockence best exemplifies _____.

Answers

Answer:

c-type conflict

Explanation:

A C-type conflict is a conflict that involves/reflects disagreements among members of a team. This kind of conflict mainly focuses on issue-related differences of opinion.

Which of the following is not a form of business combination?: (A) Acquisition. (B) S Corporation. (C) Conglomerate. (D) Merger.

Answers

Answer:

b.corporation is answer

Balancing life in college will require paying attention to which aspects of your life in order
to reach long and short term goals?
Finances, social life, academics and personal life

Class time and study time,

Managing your weight while dealing with cooking or meal plan.

Paying attention only to your social life can lead to career opportunities,

Answers

Answer:

finance , social life , academics and personal life

Financial information is important to entrepreneurs because it pulls together all the information presented in other segments of the business and: a. it quantifies all the assumptions concerning business operations. b. it answers all questions about the business and the entrepreneur. c. it justifies long term commitment to the business. d. it predicts the competitive environment in which the business operates

Answers

Answer:

c

Explanation:

Does the education make a difference in salary for a database administrator??

Answers

Answer:

Yes it surely does

Explanation:

please mark me as brainlyest

who is responsible for the preparation of the financial statement​

Answers

Answer:

Account manager or chief accountant

Explanation:

What are the typical fees banks charge?

Answers

What are the typical fees banks charge?
The average monthly maintenance fee on a small bank checking account is $10.95, compared to $16.35 at large banks.

Ken and Joe are out at a bar drinking. During the evening, Ken writes a note on a cocktail napkin agreeing to sell his car to Joe for $500. After they both sign it, Ken pockets the money and hands the keys over. The next day, Ken has no idea where his car is and how he came to have $500 in his wallet. Was this a valid contract?

Answers

Answer:

250000

Explanation:

give two reasons for using creative thinking​

Answers

Answer:

to solve problems To find solutions to problems orto find ways to improve business

What does it mean to be in business? And what are the benefits of having your own business?
(Take your time please and thank you)​

Answers

Benefits of having your own business is being independent ,you can be your own boss
•you get all the profits
• schedule your own time so it’s easy to plan your life
•promotions
• you control everything

What is the total annual dividend received from owning 75 shares of stock A, if Company A issues a $0.20 quarterly dividend to its shareholders? total annual=__ Round to the nearest hundredth.

Answers

The total annual dividend received is $60.

The computation of the total annual dividend is as follows:

Given that

There are 75 shares.

And, the quarterly dividend is $0.20.

So,

The annual dividend should be

= $0.20 × 4 quarters

= $0.80

Now the annual dividend is

= 75 shares × $0.80

= $60

Therefore we can conclude that the total annual dividend received is $60.

Learn more about the dividend here: brainly.com/question/13535979

Making a home inventory (select all that apply)
Question 3 options:
A: will decrease your premium by 5%.
B: will help you get your claim settled faster.
C: will help you to determine how much liability coverage to purchase.
D: will help you to determine how much personal property coverage to purchase.

Answers

A : wil dercease your premium by 5% and if my answer is nice like and thanks!!!!!!!

Multiple Choice
The majority of environmental assessments result in a finding of no significant impac
False
True

Answers

Answer:

False

The majority of environmental assessments result in a finding of no significant impac is false

what are some ways the government can internalize air pollution from the consumption of cars besides tax?​

Answers

- restrict access to certain areas like city centers for pollutant cars

- stop the manufacturing of cars using fossil fuel completely (the EU plans that for 2035)

- make public transportation cheaper or even free (Luxembourg did this)

- advocate the health benefits of not using a car for short trips via campaigns in differentmedia. it's cheaper and healthier to walk or ride a bike etc. whenever possible.

- make public transportation, e.g. trains, better and more time efficient (China invested a great deal of money into its train system)

- and possibly more I can't think of at the moment

Five years ago Thompson, an investor, ran across a board game that he enjoyed and believed the game would become very popular. He purchased 1,000 shares of the corporation that publishes the game. Unfortunately, the game was too complex for most casual game players and sales never amounted to much. Over the five years, the stock of the publisher has remained steady, but has not increased in value. This is an example of

Answers

This is an example of Business risk.

Business risk is the business a company Invested their money into which later  reduce their profit or become unsuccessful.

A company or organization that enter into  business in which they are unable to gain that   financial target they aim for after investing their money into the business is known as business risk.

Any Business a person, company or organization choose to enter into is a risk as you cannot actually predict what the outcome will be as to whether it will lead to financial gain or loss until you  start  the business.

Inconclusion This is an example of Business risk

Learn more about Business risk here:

https://brainly.com/question/17893150

Answer:

Business Risk! Believe it!

Explanation:

4. _______ are the fastest growing segment of today's workforce. They are optimistic, inventive and individualistic; they seek a balance between life and work and want work that is meaningful. Baby Boomers Gen Xers Generationals Millennials

Answers

Answer:

Millennials

Explanation:

They are the highest group of people joining the workforce as they are just graduating high school/college. They also have that mindset. Hope this helps!

Entrepreneurial judgment Group of answer choices is necessary to make business decisions when no fixed decision rule can be used. is fully incorporated into modern economic models of business behavior. requires decision makers to follow carefully defined rules regarding uncertainty, discovery, and business judgment. requires government advice and regulation.

Answers

Which behavior would best describe someone who has good communication skills with customers ? a) Following up with some customers b) Talking to customers more than listening to them c) Repeating back what the customer says d) Interrupting customers frequently

What has the greatest potential to demotivate you and lead you to unproductive activities?

Answers

Answer:

David is a HR generalist

Explanation:

Goals that are difficult to achieve have the greatest potential to demotivate you and lead you to unproductive activities. When goals are difficult to achieve, it's easy to lose your motivation on getting them completed because there is a greater difficulty in getting the tasks complete.


1. Give two examples of how life Insurance premiums would be determined based on ageand gender. Explain which type of life Insurance you would
recommend for each situation.

Answers

Answer:

Life insurance is designed to pay out a death benefit to the person or persons you name as beneficiaries when you pass away. In exchange for this coverage, you pay a premium to the life insurance company. In the case of term life insurance, you'd pay these premiums for a set term prescribed by the policy. With permanent life insurance coverage, premiums are due as long as the policy remains in effect

Explain the different sources of business ideas​

Answers

Answer:

Hobby.

Complaints.

Exhibitions.

Experience.

Brainstorming.

Surveys.

Mass media etc…

Explanation:

1. HOBBY:

An activity you do when you’re not working.

Do you know that you can make money from whatever it is you like or enjoy doing? All you have to do is to identify the things you do most often especially when you’re free, evaluate them and act. (Just have a quiet time and reflect on how to make money from what you enjoy doing).

2. COMPLAINTS:

Expressing unhappiness.

Critically evaluate the following statements…

“I wish there was…”

“If only there were a product that could…”

“If only there were services that could…”

See Also: How to Generate Business Ideas

Most of these come up maybe when a customer is not satisfied with a product/service that he or she has tried. Your role here is to put those complaints into consideration then generate ideas to solve such problems because from what you heard above, there is a problem that needs a solution.

3. EXHIBITION:

A demonstration of a particular skill or craft.

Attending exhibition and trade fairs regularly will help you discover new products or services and give you an opportunity to meet with manufacturers, sales representatives, wholesalers, distributors, etc… They can help you with information on getting started or might need your services.

4. EXPERIENCE:

Knowledge or skill gained through been involved in or exposed to something over a period of time.

Don’t look down on any skill or training you learned or passed through because over half of the ideas of successful businesses come from the experience in the work. The background of a potential entrepreneur plays a crucial role in the decision to go into the business as well as the type of venture to be created. Your skills and experience are your most important resources, therefore, be productive and capitalize on them.

See Also: Entrepreneur - Practice of Entrepreneurship (Summary)

5. BRAINSTORMING:

This is a way of making a group of people all think about something at the same time.

Often, in order to solve a problem or to create good ideas. It usually starts with a question or problem statement and each idea leads to one or more additional ideas, resulting in a good number.

Ensure you don’t criticize or judge the ideas of others.

Consider all ideas even those that seem to be wild or crazy.

The greater the number of ideas, the better.

Combine and improve upon the idea of others.

6. SURVEY:

To look at or consider something in a general or very broadway.

This has to do with an investigation on the opinions, behavior, etc… of a particular group of people which is usually done by asking them questions. Such a survey can be or might be conducted formally or informally by talking to people, usually using a questionnaire or through interviews and, or through observation.

See Also: How to Generate Business Ideas

7. MASS MEDIA:

This is a great source of information and news such as newspapers, magazines, radio, the internet and television.

They reach and influence a large number of people from the advertisements and offers and even information you derive from the mass media, you can come up with ideas to work on.

The following information is available for Coronado Company: Sales Revenue $389600 Freight-In $29300 Ending Inventory 37400 Purchase Returns and Allowances 14500 Purchases 269500 Beginning Inventory 45300 Coronado's cost of goods sold under a periodic inventory system is

Answers

Answer:

$262,900

Explanation:

Net purchases = Purchases - Purchase return and allowances

Net purchases = 269500 - 14500

Net purchases = $255000

Cost of goods available for sale = Beginning Inventory + Net Purchases

Cost of goods available for sale = 45300 + 255000

Cost of goods available for sale = $300300

Cost of Goods sold = Cost of goods available for sale - Ending inventory

Cost of Goods sold = 300300 - 37400

Cost of Goods sold = $262,900

So, Coronado's cost of goods sold under a periodic inventory system is $262,900.

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