Question

What amount of gain or loss does bli recognize if the transaction is structured as a direct asset sale to amy and brian? what amount of corporate-level tax does bli pay as a result of the transaction

Answer 1

The amount of gain or loss does bli recognize if the transaction is structured as a direct asset sale to amy and brian

Net cash received by Ernesto = 590300-108675 = 481625

Gain or loss recognized = 481625-106000 = $375625

In financial accounting, an asset is a resource owned or controlled by a company or entity. It is anything that can be used to create positive economic value. An asset represents the value of an asset that can be converted into cash.

Examples of personal financial assets include cash and bank accounts, real estate, personal property such as furniture and vehicles, and investments such as stocks, mutual funds, and retirement benefits. Something or someone that is an asset is considered useful or helps a person or organization succeed. Our creativity in technology is our greatest asset. Plural noun. Company or personal property is anything that a person owns. [work]

Learn more about assets here

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