Coy and Matt are equal partners in the Matcoy Partnership. Each partner has a basis in his partnership interest of $28,000 at the end of the current year, prior to any distribution. On December 31 they each receive an operating distribution. Coy receives $10,000 cash. Matt receives $3,000 cash and a parcel of land with a $7,000 fair market value and a $4,000 basis to the partnership. Matcoy has no debt or hot assets. a. What is Coy's recognized gain or loss? What is the character of any gain or loss?
b. What is Coy's ending basis in his partnership interest?
c. What is Matt's recognized gain or loss? What is the character of any gain or loss?
d. What is Matt's basis in the distributed property?
e. What is Matt's ending basis in his partnership interest?

Which certificate is the lowest level certification that a personal finance manager requires to sell mutual funds, trusts, and variable annuities? a. series 2 b. series 6 c. series 5 d. series 7 e. series 8

Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)

You should do all of the following before a job interview except