At the end of last year, cynthia, a 20% partner in the five-person cyg partnership, has an outside basis of $23,000 including her $8,500 share of cyg debt. on january 1 of the current year, cynthia sells her partnership interest to roger for a cash payment of $16,000 and the assumption of her share of cyg's debt. cyg has no hot assets. what is the amount and character of cynthia's recognized gain or loss on the sale?
a. $1,500 capital gain.
b. $7,500 ordinary income
c. $7,000 ordinary loss
d. $7,000 capital loss.

When an interest-bearing note comes due and is uncollectible, the journal entry includes debitingaccounts receivable and crediting notes receivable and interest revenue.accounts receivable and crediting interest revenue.notes receivable and crediting accounts receivable and interest revenue.notes receivable and crediting accounts receivable.

The following information is needed to reconcile the cash balance for gourmet catering services. * a deposit of $5,600 is in transit. * outstanding checks total $1,000. * the book balance is $6,400 at february 28, 2019. * the bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent. * the bank balance at february 28, 2019 was $17,410. * a deposit of $400 was credited by the bank for $4,000. * a customer's check for $3,300 was returned for nonsufficient funds. * the bank service charge is $90. what was the adjusted book balance?

Alinguist had a gross income of 53,350 last year. if 17.9% of his income got witheld for federal income tax, how much of the linguist's pay got witheld for federal income tax last year?