The Lexington partnership has a depreciable business asset (personal prop- erty) that it originally purchased for $60,000. The asset now has an adjusted basis of $36,000 and a market value of $70,000. The partnership has no other poten- tial hot assets. Ambroz sells his 25% interest in the partnership. a. How much is Lexington’s depreciation recapture potential?b. How much ordinary income does Ambroz recognize when he sells this partner-ship interest?

Which type of investment offers both capital gains and interest income? a. property b. cds c. stocks d. bonds

Maker-bot corporation has 10,000 shares of 10%, $90 par value, cumulative preferred stock outstanding since its inception. no dividends were declared in the first two years. if the company pays $400,000 of dividends in the third year, how much will common stockholders receive?

Oceanside marine company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. oceanside uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: direct materials: 2 pound per unit; $ 11 per pound direct labor: 2 hours per unit; $ 19 per hour oceanside produced 2 comma 000 units during the quarter. at the end of the quarter, an examination of the direct materials records showed that the company used 7 comma 500 pounds of direct materials and actual total materials costs were $ 98 comma 100. what is the direct materials cost variance? (round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)