User Account

All Pages

What is his gain or loss on the sale

Assignment Help Accounting Basics
Reference no: EM133076245

Question - Calvin purchased a 40% partnership interest for $43,000 in February 2018. His share of partnership income in 2018 was $22,000, in 2019 was $25,000, and in 2020 was $12,000. He made no additional contributions to or withdrawals from the partnership. On December 18, 2020, Calvin sold his partnership interest for $103,000. What is his gain or loss on the sale of his partnership interest?

Reference no: EM133076245

Questions Cloud

Determine the cost of a preferred stock : Determine the cost of a preferred stock that pays annual dividends of $2.20, has a current stock price of $19.32, and incurs flotation costs of $0.28 per share
Determining the average market return : You have a?$109 comma 000 portfolio comprising 15 stocks. You trade each stock five times this year and each time you? trade, you pay about? $35 in commissions
Recruiting at kia : Describe how employing a large number of new workers requires strategic recruiting planning and operational efforts
What amount should be reported as pbo : No change in actuarial estimates occurred during 2018. What amount should be reported as PBO on 12/31/18
What is his gain or loss on the sale : On December 18, 2020, Calvin sold his partnership interest for $103,000. What is his gain or loss on the sale of his partnership interest
Demographic data have on public health initiatives : What impact does the use of demographic data have on public health initiatives? What type of data do you believe is most valuable for this purpose?
What is the present value of the expected dividend stream : What is the present value of the expected dividend stream in CAD if the pound is expected to appreciate 3% a year against Canadian dollar
Permeate all areas of project management : Explain in your own words how and why ethical standards and professional conduct must permeate all areas of project management.
How much cash was paid for inventory : ABCD reported the following information for 2019 and 2020. Accounts payable for December 31, 2020 50,000. How much cash was paid for inventory

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