Jake Scoots LP, a calendar-year partnership, provides scooter repair services and rents scooters

Jake Scoots LP, a calendar-year partnership, provides scooter repair services and rents scooters


Jake Scoots LP, a calendar-year partnership, provides scooter repair services and rents scooters. The business started on January 1, Year 1. Jake owns 60% of the partnership, and Kelly owns 40%. Jake, a general partner, manages the shop and receives a guaranteed payment from the partnership. Kelly is a limited partner and is not involved in the operations of the business.

Using the information below, complete the Excel spreadsheet to calculate the amount of each partner’s basis in the partnership interest at the end of Year 1 and Year 2.

  • Enter losses, deductions, and distributions as negative values.
  • Enter income, gains, and contributions as positive values.
  • If an item is zero, or the item does not impact basis in the partner’s partnership interest, enter a zero.

Financial Statements and Data

Click on each accordion to view the information needed to complete Part 1.

Posted Below under Jack

Part 2

Income Statement


On January 1 of the current year, Mr. Clair and Mr. Hope established operations of their partnership Pear Technologies, a manufacturer of inventory software.  Both partners actively participate equally.  Pear’s income statement for the current calendar year is presented below.

Using the data provided, enter the appropriate values in the Part 2 table in the Excel spreadsheet as they would appear on page 1 of a partnership tax return.

Technology Income Statement and Related Information

Click on each link to view the information needed to complete Part 2 of the assignment.

Posted Below Under Pear

"96% of our customers have reported a 90% and above score. You might want to place an order with us."

Essay Writing Service
Affordable prices

You might be focused on looking for a cheap essay writing service instead of searching for the perfect combination of quality and affordable rates. You need to be aware that a cheap essay does not mean a good essay, as qualified authors estimate their knowledge realistically. At the same time, it is all about balance. We are proud to offer rates among the best on the market and believe every student must have access to effective writing assistance for a cost that he or she finds affordable.

Caring support 24/7

If you need a cheap paper writing service, note that we combine affordable rates with excellent customer support. Our experienced support managers professionally resolve issues that might appear during your collaboration with our service. Apply to them with questions about orders, rates, payments, and more. Contact our managers via our website or email.

Non-plagiarized papers

“Please, write my paper, making it 100% unique.” We understand how vital it is for students to be sure their paper is original and written from scratch. To us, the reputation of a reliable service that offers non-plagiarized texts is vital. We stop collaborating with authors who get caught in plagiarism to avoid confusion. Besides, our customers’ satisfaction rate says it all.

© 2022 Homeworkcrew.com provides writing and research services for limited use only. All the materials from our website should be used with proper references and in accordance with Terms & Conditions.