81) Marty is a 40 percent owner of MB Partnership. Marty has decided to sell his...

 

Transcribed Image Text:

81) Marty is a 40 percent owner of MB Partnership. Marty has decided to sell his interest in the business to Emilio for $100,000 cash plus the assumption of his share of MB's liabilities. Assume Marty's inside and outside basis in MB are equal. MB shows the following balance sheet as of the sale date: Kia Assets: Cash Receivables Inventory Land held for investment Totals Liabilities and capital: Liabilities Capital Totals -Marty -Barry bax000,002 v $120,000 92,000 138,000 $350,000 Basis $160,000 50,000 80,000 60,000 $350,000 What is the amount and character of Marty's recognized gain or loss? FMV $160,000 50,000 170,000 40,000 $420,000 Pok. 40%=361 (45) 40% (80 81) Marty is a 40 percent owner of MB Partnership. Marty has decided to sell his interest in the business to Emilio for $100,000 cash plus the assumption of his share of MB's liabilities. Assume Marty's inside and outside basis in MB are equal. MB shows the following balance sheet as of the sale date: Kia Assets: Cash Receivables Inventory Land held for investment Totals Liabilities and capital: Liabilities Capital Totals -Marty -Barry bax000,002 v $120,000 92,000 138,000 $350,000 Basis $160,000 50,000 80,000 60,000 $350,000 What is the amount and character of Marty's recognized gain or loss? FMV $160,000 50,000 170,000 40,000 $420,000 Pok. 40%=361 (45) 40% (80

Answer rating: 100% (QA)

Monthly Demand 5000 units Annual Demand Monthly Demand 12 500012 60000 Standard deviation of monthly demand 200 units Per unit cost ... View the full answer