At the beginning of the year, Victoria's "tax basis" capital account balance in the VIP Partnership was $90,000. During the tax year, Victoria contributed property with a basis of $30,000 and a fair market value of $70,000. Her share of the partnership's loss was $12,000. At the end of the year, the partnership distributed $15,000 of cash to Victoria. Also, the partnership allocated $20,000 of recourse debt and $35,000 of nonrecourse debt to Victoria. What is Victoria's ending capital account balance determined using the "tax basis" method?

At april 1, 2019, the food and drug administration is in the process of investigating allegations of false marketing claims by hulkly muscle supplements. the fda has not yet proposed a penalty assessment. hulkly’s fiscal year ends on december 31, 2018. the company’s financial statements are issued in april 2019. required: for each of the following scenarios, determine the appropriate way to report the situation. 1. management feels an assessment is reasonably possible, and if an assessment is made an unfavorable settlement of $13 million is reasonably possible. 2. management feels an assessment is reasonably possible, and if an assessment is made an unfavorable settlement of $13 million is probable. 3. management feels an assessment is probable, and if an assessment is made an unfavorable settlement of $13 million is reasonably possible. 4. management feels an assessment is probable, and if an assessment is made an unfavorable settlement of $13 million is probable.