Problem 14-50 (LO 14-1, 14-4) Dennis, Suzy, and Katherine form a partnership. Dennis and Suzy give equipment and a building, respectively. Katherine agrees to perform all of the accounting and office work in exchange for a 10% interest. Dennis's equipment Suzy's building Katherine's services Required: FMV $ 100,000 $ 100,000 $ 0 Basis $ 10,000 $ 45,000 Partnership 45% 451 $ 0 10% a. What amount of gain, if any, do each of the partners recognize? b. What is the basis for each partner in his or her partnership interest? c. What is the basis to the partnership of each asset? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required a Required b Required c What amount of gain, if any, do each of the partners recognize? Partner Dennis Suzy Gain $ 10,000 $ 45,000 Katherine $ 20,000 Required a Required b>

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Zina Manufacturing Company started and completed Job 501 in December with the following Job Cost Sheet and transferred it to the warehouse. Direct Materials Date Dec 17 Dec 30 Total Direct Labor Amount Date Amount $2,000 Dec 20 $4,000 8,000 Dec 30 3,800 Total Job Cost Sheet - Job No. 501 Total Cost The journal entry to record the transaction is A) WIP Inventory FG Inventory B) Cost of Goods Sold WIP Inventory C) FG Inventory WIP Inventory D) FG Inventory WIP Inventory Debit Credit 35,800 17,800 17,800 Manufacturing Overhead Date Amount Dec 24 $10,000 Dec 30 8,000 Total 35,800 35,800 17,800 17,800 35,800