[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Mamabear]

Yes! I do okay when I focus on the same topic over and over, but throw in another topic and I forget everything. Not good for exam day, but it's okay to be that way while learning it. If we master each topic individually then we should be able to flow between them on exam day. We just haven't mastered them individually yet…and I stress the word YET.

CPA Exam - Finally DONE (November 2014)
BEC (08/10/13) 80
AUD (08/24/13) 65 (11/13/13) 85
FAR (04/12/14) 81
REG (07/19/14) 69 (11/29/14) 87!!

[Mamabear]

Needed that confidence builder! Of course I still doubted myself on it…

CPA Exam - Finally DONE (November 2014)
BEC (08/10/13) 80
AUD (08/24/13) 65 (11/13/13) 85
FAR (04/12/14) 81
REG (07/19/14) 69 (11/29/14) 87!!

[CPAfit]

@wanna yes I guess it's pretty normal. I always mix up rules for charitable deduction for individual and corps but after a couple of questions it starts coming back. So don't get discouraged at this point or just like Peter Olinto says, “if you get a question wrong, it's OK! As long as you correct it and don't make the same mistake on exam day ;)”

[Kemy]

@Mamabear – that makes sense…C-Corp Income to owner is dividend so FMV = basis ; Partnership – Income to partner is pass=through so basis = basis btw, thanks everyone for letting me join in!

FAR - 02/24/14 - 86
AUD - 04/03/14 - 88
REG - 05/29/14 - 68 Retook 11/22/14 - 81 I PASSED!!!!!!!!! IM DONE! Thank You Jesus!
BEC - 07/19/14 - 85

[Kemy]

oh – yes – gotta love confidence builders!

FAR - 02/24/14 - 86
AUD - 04/03/14 - 88
REG - 05/29/14 - 68 Retook 11/22/14 - 81 I PASSED!!!!!!!!! IM DONE! Thank You Jesus!
BEC - 07/19/14 - 85

[CPAfit]

@kemy we usually charge an entrance fee but consider yourself lucky since we're letting you off the hook for tonight 😛

[Mamabear]

He's saying the question about $50K that we all got right was a confidence builder. 🙂 sometimes you need some easy ones so we beat ourselves up over the hard ones.

CPA Exam - Finally DONE (November 2014)
BEC (08/10/13) 80
AUD (08/24/13) 65 (11/13/13) 85
FAR (04/12/14) 81
REG (07/19/14) 69 (11/29/14) 87!!

[Anonymous]

11 – Juan contributed land with a basis of $10,000 and a fair market value of $15,000 to the Sounds Partnership. He also contributed services with a value of $25,000. In return, he received a partnership interest in Sounds with a value of $40,000.

What is Juan's basis in his partnership interest?

A. $0

B. $10,000

C. $35,000

D. $40,000

[Mamabear]

11-D

CPA Exam - Finally DONE (November 2014)
BEC (08/10/13) 80
AUD (08/24/13) 65 (11/13/13) 85
FAR (04/12/14) 81
REG (07/19/14) 69 (11/29/14) 87!!

[Kemy]

@Zubairs – It's my lucky Friday night! Yes Mamabear – took me a minute to get it – hence my edited post :). Ready for the next question!!!!

FAR - 02/24/14 - 86
AUD - 04/03/14 - 88
REG - 05/29/14 - 68 Retook 11/22/14 - 81 I PASSED!!!!!!!!! IM DONE! Thank You Jesus!
BEC - 07/19/14 - 85

[WANNABE_CPA]

@bucky…. A?

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[CPAfit]

@bucky C. $35k

[Kemy]

C-$35,000

FAR - 02/24/14 - 86
AUD - 04/03/14 - 88
REG - 05/29/14 - 68 Retook 11/22/14 - 81 I PASSED!!!!!!!!! IM DONE! Thank You Jesus!
BEC - 07/19/14 - 85

[Anonymous]

Shoot – I am so sorry – I grabbed this from the partnership stuff. I have a nasty cold that is messing with my head tonight! C – $35K is the right answer.

[WANNABE_CPA]

i get it…$35000=15000+20000

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[Author]

Replies