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Phantasy [73]
1 year ago
6

in may 2021, sandra's office was burglarized, and she determined that approximately $21,000 of equipment was taken. in september

2021, she received a reimbursement check from the insurance company. if there were a realized gain in this situation, when would the replacement period end?
Business
1 answer:
victus00 [196]1 year ago
5 0

The replacement period ends on December 31,2023 based on the information given about the insurance.

<h3>How to explain the information?</h3>

It should be noted that the replacement period is the period beginning and ending the reimbursement of an equipment.

It should be noted that the replacement will begin on the date when the equipment was stolen. In this case, it will then end two years after the close of the first tax year where the part of gain is realized.

Therefore, the replacement period ends on December 31,2023

Learn more about insurance on:

brainly.com/question/25855858

#SPJ1

Options

A) September 30, 2023

B) December 31, 2023

C) December 31, 2022

D) December 31, 2021

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