Required information Comprehensive Problem 9-80 (LO 9-1, LO 9-2, LO 9-3, LO 9-4, LO 9-5, LO 9-6) The following information applies to the questions displayed below Aaron Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $110,000 and Kean transferred an acre of undeveloped and to the partnership. The land had a tax basis of $70,000 and was appraised at $180.000. The and was also encumbered with a $70.000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to split peats and edu . Ar the end of the first year, Blue Bell made a $7000 prin pal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information Cost of goods s016 Operating expenses Long-ters total gains 51281 gains Charitable contributions Municipal and interest Salary pada usranteed payment to Denne (not included in expenses Comprehensive Problem 9-80 Part 1 Required: . Comote the adjusted basis of each partner's restin the hershm e te tre a tion of the partnership b. List the separate tems of partnership income gansosses and deductions that the partners must show on the individual income tax returns that include the results of the partnersho's first year of operations d. What are the partners' adjusted bases in their santner interest the Complete this question by entering your answers in the the Rece ut the art of particom.an d of butt on talantat dalam h the the pat an u h d on their individual theme calculations. Round your b . signment Required Information Comprehensive Problem 9-80 (LO 9-1, LO 9-2, LO 9-3, LO 9-4, LO 9-5, LO 9-6) The following information applies to the questions displayed below] Aaron Deanne, and Keon formed the Blue Bel General Partnership at the beginning of the current year. Aaron and Deanne each contributed $110.000 and Keon transferred an acre of undeveloped and to the partnership. The land had a tax basis of $70.000 and was appraised at $180.000. The land was also encumbered with a $70.000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to split profits and losses equally. At the end of the first year, Blue Bell made a $7,000 principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information $ 478,eue $ta, ce $ 70. $ 2, Sales revenue Cost of goods sold perating expenses Long-ter capital is $1251 gains Charitable contributions Municipal bond interest Salary paid at paranteed payment to Deanne not included in expenses) 53, de Comprehensive Problem 9-80 Part 1 Required: .. Compute the adjusted bass of each partner's interest in the partnership immediately after the formation of the partnership b. List the separate items of partnership income gains, losses, and deductions that the partners must show on their individual income tax returns that include the results of the path ship's first year of operations d. What are the partners' adjusted bases in their partnership interests at the end of the first year of operations? Complete this question by entering your answers in the tabs below. What the partner s ted buses in their partnership interests at the end of the first year of operations (Do not round Required information Comprehensive Problem 9-80 (LO 9-1, LO 9-2, LO 9-3, LO 9-4, LO 9-5, LO 9-6) The following information applies to the questions displayed below) Aaron, Deanne, and Keonformed the Blue Bell General Partnership at the beginning of the current year, Aaron and Deanne each contributed $110,000 and Keon transferred an acre of undeveloped and to the partnership. The land had a tax basis of $70.000 and was appraised at $180,000. The land was also encumbered with a $70,000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to spit profits and losses equally At the end of the first year, Blue Bell made a $7.000 principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information 478,00 Cost of goods sold Operating expense Long term capital gains 51231 gains Charitable contributions Municipal bond interest Salony 10 a n d Denne not included in expSY Comprehensive Problem 9-80 Part 1 Required: .. Compute the adjusted basis of each partner's interest in the partnership mediately after the formation of the partnership h. Ust the separate items of partnership income, gains, losses, and deductions that the partners must show on their individual income tax returns that include the results of the partnershost year of opere ons d. What are the partners adjusted bases in their partnershia interests at the end of the first year of operations? Complete this question by entering your answers in the tabs below. Compute the adjusted basis of each partner's interest in the partnership immediately after the formation of the partnership (Do not und intermediate actions. Round your finalwers to the nearest whole dolaramunt Reg ) Required information Comprehensive Problem 9-80 (LO 9-1, LO 9-2, LO 9-3, LO 9-4, LO 9-5, LO 9-6) The following information applies to the questions displayed below Aaron Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $110,000 and Kean transferred an acre of undeveloped and to the partnership. The land had a tax basis of $70,000 and was appraised at $180.000. The and was also encumbered with a $70.000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to split peats and edu . Ar the end of the first year, Blue Bell made a $7000 prin pal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information Cost of goods s016 Operating expenses Long-ters total gains 51281 gains Charitable contributions Municipal and interest Salary pada usranteed payment to Denne (not included in expenses Comprehensive Problem 9-80 Part 1 Required: . Comote the adjusted basis of each partner's restin the hershm e te tre a tion of the partnership b. List the separate tems of partnership income gansosses and deductions that the partners must show on the individual income tax returns that include the results of the partnersho's first year of operations d. What are the partners' adjusted bases in their santner interest the Complete this question by entering your answers in the the Rece ut the art of particom.an d of butt on talantat dalam h the the pat an u h d on their individual theme calculations. Round your b . signment Required Information Comprehensive Problem 9-80 (LO 9-1, LO 9-2, LO 9-3, LO 9-4, LO 9-5, LO 9-6) The following information applies to the questions displayed below] Aaron Deanne, and Keon formed the Blue Bel General Partnership at the beginning of the current year. Aaron and Deanne each contributed $110.000 and Keon transferred an acre of undeveloped and to the partnership. The land had a tax basis of $70.000 and was appraised at $180.000. The land was also encumbered with a $70.000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to split profits and losses equally. At the end of the first year, Blue Bell made a $7,000 principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information $ 478,eue $ta, ce $ 70. $ 2, Sales revenue Cost of goods sold perating expenses Long-ter capital is $1251 gains Charitable contributions Municipal bond interest Salary paid at paranteed payment to Deanne not included in expenses) 53, de Comprehensive Problem 9-80 Part 1 Required: .. Compute the adjusted bass of each partner's interest in the partnership immediately after the formation of the partnership b. List the separate items of partnership income gains, losses, and deductions that the partners must show on their individual income tax returns that include the results of the path ship's first year of operations d. What are the partners' adjusted bases in their partnership interests at the end of the first year of operations? Complete this question by entering your answers in the tabs below. What the partner s ted buses in their partnership interests at the end of the first year of operations (Do not round Required information Comprehensive Problem 9-80 (LO 9-1, LO 9-2, LO 9-3, LO 9-4, LO 9-5, LO 9-6) The following information applies to the questions displayed below) Aaron, Deanne, and Keonformed the Blue Bell General Partnership at the beginning of the current year, Aaron and Deanne each contributed $110,000 and Keon transferred an acre of undeveloped and to the partnership. The land had a tax basis of $70.000 and was appraised at $180,000. The land was also encumbered with a $70,000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to spit profits and losses equally At the end of the first year, Blue Bell made a $7.000 principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information 478,00 Cost of goods sold Operating expense Long term capital gains 51231 gains Charitable contributions Municipal bond interest Salony 10 a n d Denne not included in expSY Comprehensive Problem 9-80 Part 1 Required: .. Compute the adjusted basis of each partner's interest in the partnership mediately after the formation of the partnership h. Ust the separate items of partnership income, gains, losses, and deductions that the partners must show on their individual income tax returns that include the results of the partnershost year of opere ons d. What are the partners adjusted bases in their partnershia interests at the end of the first year of operations? Complete this question by entering your answers in the tabs below. Compute the adjusted basis of each partner's interest in the partnership immediately after the formation of the partnership (Do not und intermediate actions. Round your finalwers to the nearest whole dolaramunt Reg )