The xyz partnership owns the following assets

Assignment Help Accounting Basics
Reference no: EM13242011

The XYZ Partnership owns the following assets on December 31:

Cash Basic 10000 FMV 10000 Unrealized receivable Basic 0 FmV10000 Inventory Basic 25000 FMV 30000 A partner has a 20% interest with a basis of $6,000 in XYZ before receiving a liquidating distribution of $10,000 cash. XYZ Partnership has no liabilities. His recognized gain is (hint: Section 751 plays a role in answering this)

$4,000 capital gain.

$3,000 capital gain and $1,000 ordinary income

$3,000 ordinary income.

$3,000 ordinary income and $1,000 capital gain.

 

 

Reference no: EM13242011

Questions Cloud

Compute what is the percent-yield of h2 in the reaction : What is the percent-yield of H2 In the reaction below when an equimolar mixture of CH4 and CO2 with an initial total pressure of 20.0 atm reaches equilibrium at 1200. K, at which Kp = 3.548 x 106
Given that business operations have changed from the market : Given that business operations have changed from the market structure specified in the original scenario in Assignment 1, determine two (2) likely factors that might have caused the change. Predict the primary manner in which this change would likely..
Critically examine the key factors firms may as criteria for : 1- Critically examine the key factors firms may as criteria for sourcing for making a finance decision:  2- Critically examine the relevance of calculating the weighted average cost of capital ( 1 page each relevance):
What is his top speed : Usain Bolt is running a 100m dash. He accelerates to top speed over the first 45 m, then runs at a constant speed for the last 55 m, What is his top speed
The xyz partnership owns the following assets : Cash Basic 10000 FMV 10000 Unrealized receivable Basic 0 FmV10000 Inventory Basic 25000 FMV 30000 A partner has a 20% interest with a basis of $6,000 in XYZ before receiving a liquidating distribution of $10,000 cash. XYZ Partnership has no liabiliti..
Sample means and sample standard deviations : What is the 90% confidence interval estimate of the difference between the two population means? How do the results compare in all the three approaches to hypothesis testing?
Explain a dioxin-contaminated water source contains : A dioxin-contaminated water source contains 0.081% dioxin by mass. How much dioxin is present in 4.2 L of this water? (Assume that the density of the solution is 1.01 g/mL.)
Explain the concept of free-rider problem with public goods : Rivalry and excludability are the two characteristics of goods that are produced through the competitive market system. Compare and contrast the difference in private and public goods based on these two characteristics.
Outline a plan that will assess the effectiveness : Using the regression results and the other computations from Assignment 1, determine the market structure in which the low-calorie frozen, microwavable food company operates.

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.

  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!

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