User Account

All Pages

What is david basis in the distributed assets

Assignment Help Accounting Basics
Reference no: EM133061655

Question - David's basis in the Jimsoo Partnership is $60,500. In a proportionate liquidating 0.3 distribution, David receives cash of $8,500 and two capital assets: (1) Land A with a fair market value of $23,000 and a basis to Jimsoo of $18,250, and (2) Land B with a fair market value of $11,125 and a basis to Jimsoo of $18,250. Jimsoo has no liabilities. What is David's basis in the distributed assets?

Reference no: EM133061655

Questions Cloud

Identify your state representative : Identify your state representative and write an organized, three paragraph short essay outlining a brief bio, including party affiliation, ideological position
Growing popularity of social media : Given the growing popularity of social media as a political news source and the concurrent rise of fake news, especially in social media outlets,
What is the contribution margin ratio : Question - If sales are $30,000, fixed costs are $10,000, and variable costs are $7,000 what is the contribution margin ratio
Differentiate between civil rights and civil liberties : Differentiate between civil rights and civil liberties. Analyze safeguards in place to protect civil rights and civil liberties.
What is david basis in the distributed assets : Land B with a fair market value of $11,125 and a basis to Jimsoo of $18,250. Jimsoo has no liabilities. What is David's basis in the distributed assets
What is the loss on factoring : By year-end, the entity had collected the factor's holdback there being no customer returns and other adjustments. What is the loss on factoring
Growing concern for preservation of civil liberties : How should the United States government deal with the heightened concern about homegrown terrorism and the growing concern for preservation of civil liberties?
What should be the value of the note : What should be the value of the note on Crimbring's December 31, 2017, balance sheet if the market interest rate is then 12%
What is the total cash collected : As of January 1 of the current year, Grackle Company had accounts receivable of $50,000. What is the total cash collected in the month of March

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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