User Account

All Pages

Randolph is a 30 partner in the rd partnership on january 1

Assignment Help Accounting Basics
Reference no: EM13572501

Randolph is a 30% partner in the RD Partnership. On January 1, RD distributes $15,000 cash, an investment with a fair value of $20,000 (inside basis of $10,000), and a parcel of land with a fair value of $10,000 to Randolph in complete liquidation of his interest. RD has no liabilities at the date of the distribution. Randolph's basis in RD is $48,000. What is Randolph's basis in the distributed investment and land?

Reference no: EM13572501

Questions Cloud

It is claimed that in an efficient market all investments : it is claimed that in an efficient market all investments are zero npv investments. explain what this statement means.
The contribution margin ratio is 30 for the honeyville : the contribution margin ratio is 30 for the honeyville company and the break-even point in sales is 150000. if the
Businesses often feel too busy to plan for the future a : businesses often feel too busy to plan for the future. a study by willard amp shullman group ltd. found that fewer than
Each unit requires 5 pounds of raw materials costing 3 per : dallas industries has adopted the following production budget for the first 4 months of
Randolph is a 30 partner in the rd partnership on january 1 : randolph is a 30 partner in the rd partnership. on january 1 rd distributes 15000 cash an investment with a fair value
How much money should be invested now at 7 so that the : the cost of a four-year college education at a public university is expected to be 7000 a year in 18 years. how much
With countries around the world adopting ifrs many argue : with countries around the world adopting ifrs many argue that the iasb should tailor its standards to meet the needs of
A severe shortage of plastic pellets has required the : sport luggage inc. makes high-end hard-sided luggage for sports equipment. data concerning three of the companys most
A companys stock has a beta of 120 the risk-free rate is : a companys stock has a beta of 1.20 the risk-free rate is 4.50 and the market risk premium is 5.00. what is that

Reviews

Write a Review

Accounting Basics Questions & Answers

  The pizza company actually made 9000 pepperoni pizzas and

the pizza company makes two types of frozen pizzas pepperoni and cheese. the pizza company allocates overhead to these

  Compute the dollar amount of variable and fixed cost that

klingon company operates a free cafeteria for the benefit of its employees. budgeted and actual costs in the cafeteria

  Transfer of securities in determination of net income

Moon changed the classification of these shares to trading securities in June of 2011 when the market value of this investment in McMahon's stock had risen to $345,000. How much should Moon include as a loss on transfer of securities in its determ..

  Why preparation of income statement is necessary

Why is the preparation of "IncomeStatement" necessary for organizations?

  To test his hypothesis that students who finish an exam

to test his hypothesis that students who finish an exam first get better grades a professor kept track of the order in

  Set up one t- account for deere total inventories

Set up one T- account for Deere's total inventories ( that is, combine the three inventory accounts for this analysis) Enter the 2011 (i.e. the 2012 opening balance) and 2012 ending balances in the T account

  Cash register tape for leprechaun industries

The cash register tape for Leprechaun Industries reported sales of $7,783.12. Record the journal entry that would be necessary for each of the following situations: (a) Cash to be accounted for exceeds cash on hand by $52.60.

  Product-cost cross-subsidizations

Product-cost cross-subsidizations more likely to occur when:

  Describing steps in the accounting cycle

Following are the steps in the accounting cycle, arrange the steps in the proper sequence.

  Monthly advertising expense problem

Suppose that management believes that a $24,000 increase in the monthly advertising expense will result in a considerable increase in sales. Sales must increase by how much to justify this additional expenditure?

  Compare and contrast the rules regarding revenue

compare and contrast the rules regarding revenue recognition under ifrs versus

  Northwest airlines applied mathematical models to find out

northwest airlines applied mathematical models to determine which customers in its database were currently responsible

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd