Question
Question 10 of 75. Samantha contributed $6,000 for a 50% interest in a mobile clothing boutique. She also contributed a point of sale system with
Question 10 of 75.
Samantha contributed $6,000 for a 50% interest in a mobile clothing boutique. She also contributed a point of sale system with a fair market value of $900 and an adjusted basis of $600. Samantha's share of the net business income for the year was $9,000.
What is Samantha's outside basis in this business at the end of the year?
$6,000
$9,000
$15,600
$15,900
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Cost Accounting Theory And Practice
Authors: Bhabatosh Banerjee
13th Edition
9788120349087
