Mr. a, mr. b, and mr. c formed a calendar-year partnership. profits and losses are to be shared equally. mr. a contributed a building to be used in the business that had an adjusted basis to him of $10,000 and a fair market value of $13,000. the partnership also assumed mr. a’s $6,000 mortgage on the building. mr. b and mr. c each contributed $4,000 in cash to the partnership’s capital. what is the partnership’s basis for determining depreciation on the building? a. $13,000 b. $4,000 c. $10,000 d. $0

Personal financial planning is the process of creating and achieving financial goals? true or false

Shelby company produces three products: product x, product y, and product z. data concerning the three products follow (per unit): product x product y product z selling price $ 85 $ 65 $ 75 variable expenses: direct materials 25.50 19.50 5.25 labor and overhead 25.50 29.25 47.25 total variable expenses 51.00 48.75 52.50 contribution margin $ 34.00 $ 16.25 $ 22.50 contribution margin ratio 40 % 25 % 30 % demand for the company’s products is very strong, with far more orders each month than the company can produce with the available raw materials. the same material is used in each product. the material costs $8 per pound, with a maximum of 4,400 pounds available each month. required: a. compute contribution margin per pound of materials used. (round your intermediate calculations and final answers to 2 decimal places.) contribution margin per pound product x $ product y $ product z $ b. which orders would you advise the company to accept first, those for product x, for product y, or for product z? which orders second? third? product x product y product z

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. question 1 options: true false