Zinc, LP Was Formed on August 1, 20X9

question 73

Multiple Choice

Zinc, LP was formed on August 1, 20X9. When the partnership was formed, Al contributed $10,000 in cash and inventory with a FMV and tax basis of $40,000. In addition, Bill contributed equipment with a FMV of $30,000 and adjusted basis of$25,000 along with accounts receivable with a FMV and tax basis of $20,000. Also, Chad contributed land with a FMV of $50,000 and tax basis of $35,000. Finally, Dave contributed a machine, secured by $35,000 of debt, with a FMV of $15,000 and a tax basis of $10,000. What is the total inside basis of all the assets contributed to Zinc, LP?

• A) $165,000.
• B) $200,000.
• C) $175,000.
• D) $140,000.

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Definitions:

Workstations

Dedicated computing devices or areas where specific types of work are performed, often equipped with specialized hardware or software.

Product-oriented Layout

A manufacturing layout where equipment and workstations are arranged to optimize the production of specific products or product families.

Layout Strategy

A plan that determines the optimal physical arrangement of resources within a facility to enhance operations and efficiency.

Competitive Requirements

The essential conditions or specifications that an enterprise or product must meet to effectively compete in the market, including quality, price, and features.