Jarrod and Smith formed Major Partnership as equal partners by contributing the assets below: Jarrod: Cash, adjusted basis $45,000, fair market value $45,000 Smith: Land, adjusted basis $30,000, fair market value $57,000 The land was held by Smith as a capital asset, subject to a $12,000 mortgage, that was assumed by Major. What was Smith's basis in the partnership interest upon formation of the partnership?

Amanda rice has just arranged to purchase a $640,000 vacation home in the bahamas with a 20 percent down payment. the mortgage has a 7 percent apr compounded monthly and calls for equal monthly payments over the next 30 years. her first payment will be due one month from now. however, the mortgage has an eight-year balloon payment, meaning that the balance of the loan must be paid off at the end of year 8. there were no other transaction costs or finance charges. how much will amanda’s balloon payment be in eight years

What would you do as ceo to support the goals of japan airlines during the challenging economics that airlines face?

2. which of the following statements about interest is true? a. interest is a one-time fee that you pay for lending money. b. interest is expressed as a percentage of the amount you are borrowing. c. because interest rates tend to be small numbers, they typically don't have much effect on the price of the goods you're purchasing. d. interest is a penalty that you pay when you don't pay your bills on time.