subject
Business, 20.12.2019 21:31 lpssprinklezlps

Sweeney originally contributed $175,000 in cash for a one-fourth interest in the gilbert llc. during the several years that sweeney was a member of the llc, his share of the llc's income was $90,000 and he withdrew $75,000 cash. the llc's liabilities are $80,000, of which sweeney's share is $20,000. the llc has $40,000 of hot assets, of which sweeney's share is $10,000. sweeney sells his llc interest to jana for $225,000 cash, with jana also assuming sweeney's share of the llc's liabilities. how much is sweeney’s gain on the sale, and how much is jana’s adjusted basis for her llc interest?

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 11:30
(select all that apply) examples of email use that could be considered unethical include denying receiving an e-mail requesting that you work late forwarding a chain letter asking for donations to a good cause sending a quick message to your friend about last weekend sending your boss the monthly sales figures in an attachment setting up a meeting with your co-worker sharing a funny joke with other employees
Answers: 2
question
Business, 22.06.2019 22:50
Clooney corp. establishes a petty cash fund for $225 and issues a credit card to its office manager. by the end of the month, employees made one expenditure from the petty cash fund (entertainment, $20) and three expenditures with the credit card (postage, $59; delivery, $84; supplies expense, $49).record all employee expenditures, and record the entry to replenish the petty cash fund. the credit card balance will be paid later. (if no entry is required for a transaction/event, select "no journal entry required" in the first account record expenditures from credit card and the petty cash fund.
Answers: 2
question
Business, 23.06.2019 08:50
Walking through the grocery store, ramon sees a "buy 2, get 1 free" deal on laundry detergent. even though he currently has plenty of detergent he decides to take home all three bottles. ramon's decision seems to have been based mostly on his immediate need for the detergent the low price of alternative brands the limited income he presently earns the sale price offered for the detergent
Answers: 1
question
Business, 23.06.2019 11:30
When balancing wheels with either dynamic or road force balancers, technician a says it is really important to follow the instructions provided with the particular balancer you're using. technician b says that when rebalancing a wheel, if it is out of balance, it is best to remove the old weights and recheck the balance before adding new weights. who is correct?
Answers: 2
You know the right answer?
Sweeney originally contributed $175,000 in cash for a one-fourth interest in the gilbert llc. during...
Questions
question
English, 27.01.2021 02:50
question
Mathematics, 27.01.2021 02:50
question
Mathematics, 27.01.2021 02:50
Questions on the website: 13722363