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MMLU-Pro / 5924 / In return for a 20% partnership interest, Skinner contributed …

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

In return for a 20% partnership interest, Skinner contributed 5,000cashandlandwitha5,000 cash and land with a 12,000 basis and a 20,000fairmarketvaluetothepartnership.Thelandwassubjecttoa20,000 fair market value to the partnership. The land was subject to a 10,000 mortgage that the partnership assumed. In addition, the partnership had $20,000 in recourse liabilities that would be shared by partners according to their partnership interests. What amount represents Skinner’s basis in the partnership interest?
Plain-text mathematical notation (without MathML)
In return for a 20% partnership interest, Skinner contributed 5,000cashandlandwitha12,000 basis and a 20,000fairmarketvaluetothepartnership.Thelandwassubjecttoa10,000 mortgage that the partnership assumed. In addition, the partnership had $20,000 in recourse liabilities that would be shared by partners according to their partnership interests. What amount represents Skinner’s basis in the partnership interest?
Original LaTeX notation
In return for a 20% partnership interest, Skinner contributed $5,000 cash and land with a $12,000 basis and a $20,000 fair market value to the partnership. The land was subject to a $10,000 mortgage that the partnership assumed. In addition, the partnership had $20,000 in recourse liabilities that would be shared by partners according to their partnership interests. What amount represents Skinner’s basis in the partnership interest?

category

other

options

  1. $17,000
  2. $20,000
  3. $25,000
  4. $12,000
  5. $15,000
  6. $19,000
  7. $13,000
  8. $14,000
  9. $27,000
  10. $21,000

src

ori_mmlu-professional_accounting

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Source and history

upstream_id / Original problem ID
5924
task_id
80eeeb4a-85df-5410-bade-b3dc971801dc
task_key
default--test--5924
task_revision_id
1
config / split
default / test

Official source

initial import