1
Instructors Manual
Chapter 20
PartnershipsDistributions, Sales, and Exchanges
Current Cash DistributionConsequences to Recipient Partner
31.
a.
$5,000: Pete's tax basis in his partnership interest was $10,000 at the beginning of
the year. Pete's share o
ACCT 144 Chapter 16 Homework
#27
PPK total loss
Tax Basis of inventory
$
$
15,000.00 (value of inventory - face value)
200,000.00 FMV of inventory
#29
A.
Total gain for Walker Corp.
$
20,000.00
B.
The earnings and profits will transfer to Brian because he
