When Teri’s outside basis in the TMF Partnership is $80,000, the partnership distributes to her $30,000 of cash, an account receivable (fair market value of $60,000, inside basis to the partnership of $0), and a parcel of land (fair market value of $60,000, inside basis to the partnership of $80,000). Teri remains a partner in the partnership, and the distribution is proportionate to the partners. a. Use the format of Concept Summary 21.4 to create a spreadsheet to calculate the effects of the distribution. Set up an input area for the amounts on lines 1, 2, 5, and 8. Code the formulas shown in the Calculations section of the concept summary to calculate the amounts in the remaining lines. You will use "sum," "min," and "max" formulas. Enter Ter’s relevant facts in the input section of your spreadsheet

b. Based on the information in your spreadsheet, how much gain or loss will Teri recognize as a result of the distribution? Explain your answer.

c. How much is Teri

Steffi is reviewing various licenses and their uses. match the licenses to their respective uses. you are eligible to work within the state. you are eligible to sell limited investment securities. you are eligible to sell fixed income investment products. your compensation is fee based. section 6 section 7 section 63 section 65

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.

Which of the following should be considered last when searching for financing