The bcd partnership plans to distribute cash of $20,000 to partner brad at the end of the tax year. the partnership reported a loss for the year, and brad's share of the loss is $10,000. brad has a basis of $15,000 in the partnership interest, including his shaer of partnership liabilities. the partnership expects to report substantial income in future years.
a. what rules are used to calculate brad's ending basis in his partnership interest?
b. how much income or loss must brad report for the tax year?
c. will the deduction for any of the $10,000 loss be suspended?
d. could any planning opportunities be used to minimize the tax ramifications of the distribution?

Which of the following statements concerning an organization's strategy is true? a. cost accountants formulate strategy in an organization since they have more inputs about costs. b. businesses usually follow one of two broad strategies: offering a quality product at a high price, or offering a unique product or service priced lower than the competition. c. a good strategy will always overcome poor implementation. d. strategy specifies how an organization matches its own capabilities with the opportunities in the marketplace to accomplish its objectives.

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr

Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)