Bob contributed a building with an adjusted basis to Bob of $50,000 and a fair market value of $150,000 subject to a mortgage of $120,000 in exchange for a 30 percent interest in the Alpha Partnership. Alpha will assume the mortgage on the building.
What is Alpha's basis in the building?
a. $0b. $30,000c. $50,000d. $84,000
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Bob contributed a building with an adjusted basis to Bob of $50,000 and a fair market value of $150,000 subject to a mortgage of $120,000 ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The focus of what a person or organization ought to do in when faced with a particular situation is referred to as: a. Substantive ethics. b. Emotional ethics. c. Normative ethics. d. Behavioral ethics.
Answers (1)
The focus of coin operations generally progresses through three stages which stage concerns itself with expansion of stability operations?
Answers (1)
Profits at CincySavers are declining. The sales consulting department reported a contribution margin of $80,000 and fixed costs of $160,000, $90,000 of the fixed costs cannot be avoided. Management is considering closing this department.
Answers (1)
In the year 2005, a company made $5.8 million in profit. For each consecutive year after that, their profit increased by 7%. How much would the company's profit be in the year 2009, to the nearest tenth of a million dollars
Answers (1)
Shoppers at supermarkets often abandon their empty shopping carts at various locations in the parking lot, despite the risk of damage to vehicles or the additional labor cost of retrieving those carts. How might an economist explain this behavior? a.
Answers (1)
New Questions in Business
Dividends per share measures a. the extent to which earnings are being distributed to preferred shareholders. b. the extent to which earnings are being reinvested in the company. c.
Answers (1)
To accurately compare the rate of return on one investment with another, they should be:
Answers (1)
Which method of entering international markets generally involves the least risk?
Answers (1)
The set of business activities that adds value to products and services sold to consumers for their personal or family use is referred to as Multiple Choice retailing. marketing. wholesaling.
Answers (1)
in the camria company, materials are entered at the beginning of the process. if there is no beginning work in process, but there is an ending work in process inventory, the number of equivalent units as to materials costs will be the same as the
Answers (1)