Sue and andrew form sa general partnership. each person receives an equal interest in the newly created partnership. sue contributes $13,000 of cash and land with a fmv of $58,000. her basis in the land is $23,000. andrew contributes equipment with a fmv of $15,000 and a building with a fmv of $36,000. his basis in the equipment is $11,000, and his basis in the building is $23,000. how much gain must the sa general partnership recognize on the transfer of these assets from sue and andrew?

multiple choice

$0.

$4,000.

$48,000.

$52,000.

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.

You hear your supervisor tell another supervisor that a fire drill will take place later today when the fire alarm sounds that afternoon you should

Palmer frosted flakes company offers its customers a pottery cereal bowl if they send in 3 boxtops from palmer frosted flakes boxes and $1. the company estimates that 60% of the boxtops will be redeemed. in 2012, the company sold 675,000 boxes of frosted flakes and customers redeemed 330,000 boxtops receiving 110,000 bowls. if the bowls cost palmer company $3 each, how much liability for outstanding premiums should be recorded at the end of 2012?