contributes land with a basis of $90,000 and a fair market value of $270,000, and Rasp contributes cash of $270,000. Straw and Rasp share profits and losses equally. When the land is sold two years later for $450,000, Straw must recognize a gain of how much

Simon, aged 10, is invited to a classmate's birthday party at an exclusive ski resort on march 15th. the day will include 4 hours of snowboarding, lunch and birthday cake. simon's mother checks a box on the invitation that says "yes, we will attend" and returns it to the classmate's address. unfortunately, they later don't attend the party when simon comes down with the flu. on march 17th, simon's mother receives an invoice in the mail from simon's classmate for $35 that says, "party no-show fee." can simon's classmate collect the fee?