Hilary had an outside basis in LTL General Partnership of $10,000 at the beginning of the year. LTL reported the following items on Hilary's K-1 for the year: ordinary business income of $5,000, a $10,000 reduction in Hilary's share of partnership debt, a cash distribution of $20,000, and tax-exempt income of $3,000. What is Hilary's adjusted basis at the end of the year

Hank itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. the following are required for production of a 70-gallon batch. 2,700 ounces of grape concentrate at $0.04 per ounce 77 pounds of granulated sugar at $0.43 per pound 133 lemons at $0.79 each 350 yeast tablets at $0.24 each 350 nutrient tablets at $0.14 each 2,500 ounces of water at $0.001 per ounce hank estimates that 4% of the grape concentrate is wasted, 9% of the sugar is lost, and 32% of the lemons cannot be used. compute the standard cost of the ingredients for one gallon of wine. (round intermediate calculations and final answer to 2 decimal places, e.g.