Sean, Pete, Tom, and Mark formed a partnership to start a water damage restoration business. Each partner has a 25% interest, and all debt and profits are shared equally among the partners. Sean contributed cash of $20,000 and property with a FMV of $130,000, a basis of $80,000, and a mortgage of $50,000. Pete contributed services. Tom contributed cash of $50,000 and property with a FMV of $60,000, a basis of $40,000, and debt of $10,000. Mark contributed cash of $25,000 and property with a FMV of $95,000, a basis of $85,000, and debt of $20,000. All debt was assumed by the partnership. Which partner has a basis in partnership interest of $95,000

Afirm that makes electronic circuits has been ordering a certain raw material 250 ounces at a time. the firm estimates that carrying cost is i = 30% per year, and that ordering cost is about $20 per order. the current price of the ingredient is $200 per ounce. the assumptions of the basic eoq model are thought to apply. for what value of annual demand is their action optimal?

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

Oliver's company is planning the launch of their hybrid cars. the company has included "never-before-seen" product benefits in the hybrid cars. which type of advertising should oliver's company use for the new cars?