Business, 13.12.2021 23:10, vannybelly83
A local partnership has only two assets (cash of $10,000 and land with a cost of $35,000) All liabilities have been paid and the following capital balances are currently being recorded The
partners share profits and losses as follows All partners are insolvent
Brown, capital (40%)
$25,000
Fish, capital (30%)
15,000
Stone, capital (30%)
5,000
a. If the land is sold for $25,000, how much cash does each partner receive in a final settlement?
b. If the land is sold for $15,000, how much cash does each partner receive in a final settlement?
c. If the land is sold for $5,000, how much cash does each partner receive in a final settlement?
Answers: 1
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In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a. no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative. b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child. c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative. d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.
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Business, 22.06.2019 17:30, Jermlew
Google started as one of many internet search engines, amazon started as an online book seller, and ebay began as a site where people could sell used personal items in auctions. these firms have grown to be so large and dominant that they are facing antitrust scrutiny from competition regulators in the us and elsewhere. did these online giants grow by fairly beating competition, or did they use unfair advantages? are there any clouds on the horizon for these firms -- could they face diseconomies of scale or diseconomies of scope as they continue to grow? if so, what factors may limit their continued growth?
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A local partnership has only two assets (cash of $10,000 and land with a cost of $35,000) All liabil...
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