On january 1 of the current year, anna and jason form an equal partnership. anna contributes $50,000 cash and a parcel of land (adjusted basis of $100,000; fair market value of $150,000) in exchange for her interest in the partnership. jason contributes property (adjusted basis of $180,000; fair market value of $200,000) in exchange for his partnership interest. which of the following statements is true concerning the income tax results of this partnership formation?
(a) jason recognizes a $20,000 gain on his property transfer.
(b) jason has a $200,000 tax basis for his partnership interest.
(c) anna has a $150,000 tax basis for her partnership interest.
(d) the partnership has a $150,000 adjusted basis in the land contributed by anna.

According to maslow's hierarchy of needs theory, which of the following would be an issue that requires the fulfillment of a lower order need? a)the need for a challenging project at work. b)the need for a promotion at work.c) the need to locate your business in an area with a low crime rate. d)the need for a mentor to you ascend within the company. none of the above

In the fall, jay thompson decided to live in a university dormitory. he signed a dorm contract under which he was obligated to pay the room rent for the full college year. one clause stated that if he moved out during the year, he could sell his dorm contract to another student who would move into the dormitory as his replacement. the dorm cost was $5000 for the two semesters, which jay had already paid a month after he moved into the dorm, he decided he would prefer to live in an apartment. that week, after some searching for a replacement to fulfill his dorm contract, jay had two offers. one student offered to move in immediately and to pay jay $300 per month for the eight remaining months of the school year. a second student offered to move in the second semester and pay $2500 to jay. jay estimates his food cost per month is $500 if he lives in the dorm and $450 if he lives in an apartment with three other students. his share of the apartment rent and utilities will be $404 per month. assume each semester is 4.5 months long. disregard the small differences in the timing of the disbursements or receipts. what is the cost of the cheapest alternative?

Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?