Randolph is a 30 percent partner in the RD Partnership. On January 1, RD distributes $24,500 cash and inventory with a fair value of $23,600 (inside basis of $11,800) to Randolph in complete liquidation of his interest. RD has no liabilities at the date of the distribution. Randolph's basis in his RD Partnership interest is $39,725. What is the amount and character of Randolph's gain or loss on the distribution

As part of a hiring process, codex marketing company conducts an internet search to discover what a job candidate has posted. to codex, this act should present

Titus manufacturing, inc. provided the following information for the year: purchases - direct materials $91,000 plant utilities and insurance 68,000 indirect materials 11,170 indirect labor 4270 direct materials used in production 99,000 direct labor 117,500 depreciation on factory plant & equipment 4000the inventory account balances as of january 1 are given below. direct materials $44,000 work-in-progress inventory 10,000 finished goods inventory 50,000what is the ending balance in the direct materials account? $135,000 $36,000 $110,170 $6000

Taking commercial paper means the holder acts honestly