Jack and Ted formed an equal partnership. Jack contributed $10,000 cash and Ted contributed depreciable equipment that he has owned for 6 months with a fair market value of $10,000 and an adjusted basis of $2,000. What amount should Ted report as a gain as a result of this transaction?a.$8,000b.$4,000c.$0d.$5,000

Hunter Sailing Company exchanged an old sailboat for a new one. The old sailboat had a cost of $210,000 and accumulated depreciation of $105,000. The new sailboat had an invoice price of $230,000. Hunter received a trade in allowance of $115,000 on the old sailboat, which meant the company paid $115,000 in addition to the old sailboat to acquire the new sailboat. If this transaction has commercial substance, what amount of gain or loss should be recorded on this exchange?Multiple Choice$115,000 gain$0 gain or loss$10,000 loss$105,000 loss$10,000 gain

Marie and Gina are event stylists and have decided to commence a partnership.Marie is contributing cash of $14,000 and a business loan of $6,000, while Gina is contributing equipment (cost of $8,000 and market value of $10,000) and accounts receivable of $3,000.What amount would be credited to Gina's capital account?(Enter numbers only without any symbols, e.g. 1234)

A and B undertook to do a piece of work for Rs.4800.A alone could do it in 8days and B alone in 12days.With the assistance of C they finished the work in 4days.Then B’s share of the money is*1 point1.22502.16003.7504.1500

Select the correct answerA and B entered into partnership with capitals in the ratio 4:5. After 3 months, A withdrew 14 of his capital and B withdrew 15 of his capital. At the end of 10 months, the gain was Rs.7,600. What is A′s share in the profit?Options3,3003,1004,300

Select the correct answerA,B and C are partners in a business. A, whose capital was used for 5 months, claims 17 part of the total profit. B, whose capital was used for 7 months, claims 15 part of the total profit. If C invested Rs. 4,600 for 9 months, then what is the amount invested by A?