Mr. a, mr. b, and mr. c formed a calendar-year partnership. profits and losses are to be shared equally. mr. a contributed a building to be used in the business that had an adjusted basis to him of $10,000 and a fair market value of $13,000. the partnership also assumed mr. a’s $6,000 mortgage on the building. mr. b and mr. c each contributed $4,000 in cash to the partnership’s capital. what is the partnership’s basis for determining depreciation on the building? a. $13,000 b. $4,000 c. $10,000 d. $0

Faldo corp sells on terms that allow customers 45 days to pay for merchandise. its sales last year were $325,000, and its year-end receivables were $60,000. if its dso is less than the 45-day credit period, then customers are paying on time. otherwise, they are paying late. by how much are customers paying early or late? base your answer on this equation: dso - credit period = days early or late, and use a 365-day year when calculating the dso. a positive answer indicates late payments, while a negative answer indicates early payments. a. 21.27b. 22.38c. 23.50d. 24.68e. 25.91b