Tiffany and carlos decided to liquidate their jointly owned corporation, royal oak furniture (rof). after liquidating its remaining inventory and paying off its remaining liabilities, rof had the following tax accounting balance sheet: fmv adjusted basis appreciation (depreciation) cash $ 399,000 $ 399,000 building 84,000 27,250 56,750 land 315,000 405,000 (90,000 ) total $ 798,000 $ 831,250 $ (33,250 ) under the terms of the agreement, tiffany will receive the $399,000 cash in exchange for her 50 percent interest in rof. tiffany's tax basis in her rof stock is $59,000. carlos will receive the building and land in exchange for his 50 percent interest in rof. his tax basis in the rof stock is $121,000. assume for purposes of this problem that the cash available to distribute to the shareholders has been reduced by any tax paid by the corporation on gain recognized as a result of the liquidation. (negative amounts should be indicated by a minus sign.) d. what is carlos’s tax basis in the building and land after the complete liquidation?

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?