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  3. problem 10-46 (lo 10-4) (algo) [the following info

Problem 10-46 (LO 10-4) (Algo) [The following information applies to the questions displayed below.] The...

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Accounting

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Problem 10-46 (LO 10-4) (Algo) [The following information applies to the questions displayed below.] The Taurin Partnership (a calendar-year-end entity) has the following assets as of December 31 of the current year: On December 31 , Taurin distributes $16,520 of cash, $11,013 (FMV) of accounts recelvable, and $42,660 (FMV) of Inventory to Emma (a one-third partner) in termination of her partnership interest. Emma's basis in her partnership interest immediately prior to the distribution is $43,357. Problem 10-46 Part b (Algo) o. What is Emma's basis in the distributed assets? (Round your intermediate and final answers to the nearest whole dollar amount.) Answer is complete but not entirely correct

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