When High Horizon LLC was formed, Maude contributed the following assets in exchange for a 25 percent capital and profits interest in the LLC: Maude Basis Fair Market Value
Cash $29,750 $29,750
Land 107,000 383,500
Totals $136,750 $413,250

Nonrecourse debt secured by the land equals $167,500.

James, Harold, and Jenny each contributed $245,750 in cash for a 25 percent profits and capital interest.

Required:
a. How much gain or loss will Maude and the other members recognize?
b. What is Maude's tax basis in her LLC interest?
c. What tax basis do James, Harold, and Jenny have in their LLC interests?
d. What is High Horizon's tax basis in its assets?
e. Following the format in Exhibit 20-2, prepare a tax basis balance sheet for the High Horizon LLC showing the tax capital accounts for the members.

Which of the following is not a characteristic of enterprise applications that cause challenges in implementation? a. they introduce "switching costs," making the firm dependent on the vendor. b. they cause integration difficulties as every vendor uses different data and processes. c. they are complex and time consuming to implement. d. they support "best practices" for each business process and function. e. they require sweeping changes to business processes to work with the software.

An arithmetic progression involves the addition of the same quantity to each number.which might represent the arithmetic growth of agricultural production

Acolleague from the plant in germany has arrived at the chicago plant to share insights on a recent product line changeover implemented in germany. this changeover has saved thousands of euros at the german facility, but jim does not think it will work in the united states. jim feels that there is a completely different attitude towards work and innovation in the u.s., and in fact, thinks the german facility is technologically behind his plant. additionally, the colleague often mispronounces words when he speaks english, and doesn't dress appropriately for the u.s. office. he showed up to work on the plant floor in a formal suit and tie, with dress shoes that had a slippery sole. however, the colleague is a guest, and it is important that jim pretends to be interested. identify the listening barriers. check all that apply. thought speed grandstanding faking attention nonverbal distractions psychological barriers