1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anika [276]
3 years ago
12

Joe's Jalopies sold one of its warehouses for $300,000 cash plus a tractor with a fair market value of $25,000. The building had

a mortgage against it for $50,000 that was assumed by the buyer and an adjusted basis of $130,000. Joe's had to pay $20,000 in sales commissions to the Realtor who coordinated the sale. What is the amount realized by Joe's Jalopies
Business
1 answer:
spayn [35]3 years ago
7 0

Answer:

$355,000

Explanation:

Joe's jalopies sold one of its warehouse for $300,000 and a tractor that has a fair market value of $25,000

The warehouse had a mortgage of $50,000 against it.

The adjusted basis was $130,000

Joe had to make a payment of $20,000 in sales commission to the realtor

Therefore, the amount realized by Joe's jalopies can be calculated as follows

=$300,000+$25,000+$50,000-$20,000

= $375,000-$20,000

= $355,000

Hence the amount that was realized by Joe's jalopies is $355,000

You might be interested in
1. Prepare a contribution format income statement segmented by divisions. 2-a. The Marketing Department has proposed increasing
AURORKA [14]

Answer: Hello your question is incomplete below is the complete question

answer :

1) attached below

2a) Increases by $25,176

Explanation:

1) Attached below is the contribution format income statement

<u>2a) Determine by how much the net operating income will change </u>

monthly advertising increment = $25,000

Assumed increase in division's sales = 16%

first step : determine increment in contribution margin of west division

  = 313,600 * 0.16  = 50,176

change in net operating income = 50176 - monthly advert increment

                                                     = 50176 - 25,000 = $25,176 ( increases )

8 0
3 years ago
. Suppose that a car dealer has a local monopoly selling Volvos. It pays w to Volvo for each car that it sells, and charges each
kicyunya [14]

Answer:

The dealer will sell 15 Volvos

Explanation:

Consider the following formulas to calculate the Q of which optimize the exercise.

Profit = Q*p

Profit = (30-q)*q

Profit = 30q - q^2

Differentiating with respect to q, we get

30-2q = 0

2q = 30

q=15

The dealer will sell 15 Volvos

6 0
3 years ago
At the end of this section, the author provides links to self-assessments to help determine if an individual has what it takes t
LUCKY_DIMON [66]

Answer:

The correct answer is entrepreneurs are born, not made.

Explanation:

Entrepreneurs, social psychologists and economic theorists have speculated on whether entrepreneurs are born or made, in other words, if you are predisposed to become an entrepreneur because of your genetic constitution, or if that provision comes from your environment, conditioning or other external factor.

For most entrepreneurs, it is comforting to think that business men and women are made, that even if they lack the "right" DNA, practice, experience and sufficient conditioning to be a success.

6 0
3 years ago
A company with excess capacity must decide between scrapping or reworking units that do not pass inspection. The company has 13,
Anit [1.1K]

Answer:

Incremental income for Sale as scrap  is $36,400 and Rework is $46,200

Explanation:

                                                              Sale as scrap         Rework

Sales of reworked units (13000*8.2)                                  $106,000

Sales of scrap units (13000*2.8)            $36,400

Cost to rework units (13000*4.6)                                         ($59,800)

Opportunity cost of not making new units

Incremental income (loss)                      $36,400              $46,200

6 0
3 years ago
The following costs were incurred in May:
galben [10]

Answer:

the conversion cost is $58,200

Explanation:

The computation of the conversion cost is shown below:

The conversion cost is

= Direct Labor + Manufacturing Overhead

= $32,800 + $25,400

= $58,200

Hence, the conversion cost is $58,200

It is the combination of the direct labor and the manfacturing overhead

6 0
3 years ago
Other questions:
  • Your division is considering two projects with the following cash flows (in millions):
    5·2 answers
  • John is a drummer who purchases his drumsticks online. When practicing with the newest pair, he notices they feel heavier than u
    13·1 answer
  • Both Schedules M-1 and M-3 require taxpayers to identify book-tax differences as either temporary or permanent. T/F
    15·1 answer
  • If a life insurance company sells a $240,000 life insurance policy with a one year term to a 25-year old lady for $210, the prob
    8·1 answer
  • In the global business environment, small businesses are becoming more entrepreneurial while larger organizations are "shying" a
    14·1 answer
  • Who is Lady gaga? what is she know for?
    14·2 answers
  • A local pharmaceutical firm of Pakistan has decided to restructure its end to end process as per the quality standards of DRAP (
    10·1 answer
  • Read one article in newspaper, then, explain the specific ideas contained in various
    8·1 answer
  • _____________ analytics combines data from different channels into one holistic view of the customer and analyzes the data for i
    5·1 answer
  • One disadvantage of the BYOD strategy is the potential for __________. Group of answer choices cost savings increased flexibilit
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!