Analyze nestle csr initiative plan focuses on society issues
This is a CSR project, and choose to nestle as our company Note: Please give answer on mentioned words (must add intext citation) and required
Question – 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.
| FMV | Basis | Partnership % |
Dennis’s equipment | $52,500 | $10,500 | 45% |
Suzy’s building | $52,500 | $42,000 | 45% |
Katherine’s services | $0 | $0 | 10% |
Required –
-What amount of gain, if any, do each of the partners recognize?
-What is the basis for each partner in his or her partnership interest?
-What is the basis to the partnership of each asset?