18. The Balance Sheet of the equal MVR Partnership on August 31, 2020 is as follows: Cash - $300.000 (Adjusted Basis): $300,000 (Fair Market Value): Unrealized Receivables - S-0- (Adjusted Basis): $90,000 (Fair Market Value) Capital Assets - $ 240,000 (Adjusted Basis) $450.000 (Fair Market Value): Total Assets - $540,000 (Adjusted Basis), $840,000 (Fair Market Value). Notes Payable - $180,000 (Adjusted Basis): $180, 000 (Fair Market Value); Capital Accounts: Velma Capital - $120,000 (Adjusted Basis); $220.000 (Fair Market Value); Rosetta Capital-$120,000 ( adjusted basis: $220,000 ( Fair Market Value). Total Labilities and Partners Capital -$540,000 ( Adjusted Basis ) $ 840000 ( Fair Market Value). The partnership makes a liquidating distribution to Mercedes of Cash of $ 40,000. Unrealized Receivable of $30,000 and Capital Assets worth ( Fair Market Value) $ 150,000. The Remaining Partners assumes Mercedes share of the Partnership Liabilities. Mercedes basis in the distributed unrealized receivable is answer is $0

$30,000 $10,000 $90000 $ 0

20. The Balance Sheet of the equal MVR Partnership on August 31, 2021 is as follows: Cash $300,000 (Adjusted Basis) $300,000 (Fair Market Value) Unrealized Receivables - $-0- (Adjusted Basis); $60,000 (Fair Market Value): Capital Assets - $210,000 (Adjusted Basis): $450,000 (Fair Market Value) Total Assets - $510.000 (Adjusted Basis); $810,000 (Fair Market Value). Notes Payable - $150,000 (Adjusted Basis), $150,000 (Fair Market Values). Capital Account Mercedes Capital $120,000 (Adjusted Basis): $220,000 (Fair Market Values), Velma Capital - $120,000 (Adjusted Basis $220,000 ( Fair Market Value); Rosetta Capital -$120.000 (Adjusted Basis); $220,000 (Fair Market Value) Total Liabilities and Partners Capital - $510,000 (Adjusted Basis: $810,000 (Fair Market Value). Mercedes sells her interest in the Partnership to someone outside of the Partnership for cash of $220,000 and the assumption of her share of the Partnership liabilities. The amount realized by Mercedes for the sale of her Partnership interest is answer is $ 270000

$170,000 $220,000 $250,000 $270,000

21. 21. The Balance Sheet of the equal MVR Partnership on August 31, 2021 is as follows: Cash ( (Adjusted Basis $240,000; Fair Market Value $240,000 ) Unrealized Receivables (Adjusted Basis - $-0-); (Fair Market Value -$180,000): Capital Assets ( Adjusted Basis: $330,000 (Fair Market Value -$450,000) Total Assets - (Adjusted Basis $570.000); (Fair Market Value $870,000). Notes Payable - (Adjusted Basis - $150,000), (Fair Market Values- $150,000). Capital Account : Rochelle Capital ( Adjusted Basis- $140,000 (Fair Market Values, $240,000 ) Kendra Capital (Adjusted Basis $140,000, Fair Market Value $240.000). Toya Capital ( Adjusted Basis -$140,000; Fair Market Value-$240,000 ) (Total liabilities and Equity Capital ) -( Adjusted Basis-; $570,000; Fair Market Value- $870000) Rochelle sells her interest in the Partnership to someone outside of the Partnership for cash of $ 240,000 and the assumption of her share of the partnership liabilities. The amount realized by Rochelle for the sale of her Partnership interest is answer is $290000 Plz explain how

$ 230,000 $290,000 $170,000 $60,000