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15. James and Barbara are equal partners in the JB Partnership....

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Accounting

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15. James and Barbara are equal partners in the JB Partnership. At the beginning of the current year. Barbara's capital account has a balance of $200,000, and the partnership has debts of $100,000 payable to unrelated parties. All the debt is shared equally between the partners. The following information about JB's operations for the current year is obtained from the partnership's records: Sales revenue Cost of goods sold old Section 1231 gain Distribution to James Depreciation recapture I Depreciation expense Payment to the local hospital for Barbara's medical expenses $ 150.000 110,000 50.000 40.000 30.000 20.000 10.000 Year-end partnership debt payable to unrelated parties is $60,000. How much is Barbara's basis in her partnership interest at the end of the year? a) $280,000 b) $320,000 Oc) $270,000

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