Cosmo contributed land with a fair market value of $365,000 and a tax basis of $99,000 to the y mountain partnership in exchange for a 30 percent profits and capital interest in the partnership. the land is secured by $161,000 of nonrecourse debt. other than this nonrecourse debt, y mountain partnership does not have any debt.
a. how much gain will cosmo recognize from the contribution? (leave no answer blank. enter zero if applicable.)
b. what is cosmo’s tax basis in his partnership interest?

If a bond is issued at a premium the effective interest rate is most likely

Abbington company has a manufacturing facility in brooklyn that manufactures robotic equipment for the auto industry. for year 1, abbingtonabbington collected the following information from its main production line: actual quantity purchased-200 units, actual quantity used-110 units, units standard quantity-100 units, actual price paid-$8 per unit, standard price-$10 per unit. atlantic isolates price variances at the time of purchase. what is the materials price variance for year 1? 1. $400 favorable. 2. $400 unfavorable. 3. $220 favorable. 4. $220 unfavorable.

Afirm is producing at minimum average total cost with its current plant. draw the firm's long-run average cost curve. label it. draw a point on the lrac curve at which the firm cannot lower its average total cost. draw the firm's short-run average total cost curve that is consistent with the point you have drawn. label it. g