The taurin partnership (calendar year-end) has the following assets as of december 31 of the current year: tax basis fmv cash $ 45,720 $ 45,720 accounts receivable 15,240 30,480 inventory 81,900 121,260 totals $ 142,860 $ 197,460 on december 31, taurin distributes $15,240 of cash, $10,160 (fmv) of accounts receivable, and $40,420 (fmv) of inventory to emma (a one-third partner) in termination of her partnership interest. emma’s basis in her partnership interest immediately prior to the distribution is $40,530. c1. if emma’s basis before the distribution was $55,755 rather than $40,530, what is emma’s recognized gain or loss? c2. what is her basis in the distributed assets?

Peninsula products has just applied for a loan at your bank. when reviewing peninsula's books for the year that just ended, you notice that the firm uses the fair value option for its bonds payable. you also see that the firm recorded a $55,000 debit in its bonds payable account and a $55,000 credit in its unrealized holding gain or loss"income account. over that same period, interest rates decreased by about 0.5 percent. how should this information affect the bank's decision as to whether to grant peninsula a loan? a : the bank should strongly consider giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen an increase in its credit rating over the past year. b : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely the result of the rise in interest rates. c : the bank should hesitate before giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen a decline in its credit rating over the past year. d : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely unrelated to either interest rates or the firm's credit rating.

Which of the following is a disadvantage to choosing a sole proprietorship business structure? question 9 options: the owner has personal responsibility for the company's liabilities. the owner has to share the profits with partners. the owner is still liable for personal debts. the owner has to report to shareholders.

Which of these is not a result of regular exercise