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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

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Retained earnings is a. The positive cash flows of a company. b. The net worth of a company. c. The owners' equity that has accu
umka2103 [35]

Answer:

The correct answer is letter "C": The owners' equity that has accumulated as a result of profitable operations.

Explanation:

Retained Earnings are the part of the company's net profits it does not pay out as dividends to shareholders. The company retains the money and reinvests it in the company, or uses it to pay off a part of its debt. To see how much profits a corporation has kept, look under the Shareholder's equity in the Balance Sheet.

3 0
3 years ago
Telfer, Inc. reported net income of $2.7 million in 2020. Depreciation for the year was $162,300, accounts receivable decreased
vovikov84 [41]

Answer:

See below

Explanation:

Computation of net cash provided by operating activities using the indirect method

Cash flow from operating activities

Net income

$2,700,000

Adjustments to reconcile net income

Add: Decrease in accounts receivable

$357,400

Less: Decrease in accounts payable

$296,500

Add: Depreciation expense for the year

$162,300

Net cash provided by operating activities

$2,923,200

5 0
3 years ago
A business’s total revenue for a specified period is $500,000, its operating expenses are $50,000, and its net profit if $150,00
creativ13 [48]

Answer:

your answer is 300,000

8 0
3 years ago
Define and explain each concept and give specific examples: a. Marginal Propensity to Consume and Marginal Propensity to Save (
siniylev [52]

Answer:

The marginal propensity to save (MPS) is the portion of each extra dollar of a household's income that's saved. MPC is the portion of each extra dollar of a household's income that is consumed or spent. Consumer behavior concerning saving or spending has a very significant impact on the economy as a whole.

Multiplier Effect

for every dollar the government spends, it will create a greater than one dollar change in GDP

Spending Multiplier

1 / 1-MPC or 1 / MPS; increase in spending .: + multiplier; decrease in spending .: - multiplier

Deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit.

Crowding out in businesses an economic concept that describes a situation where personal consumption of goods and services and investments by business are reduced because of increases in government spending and deficit financing sucking up available financial resources and raising interest rates.

Explanation: Marginal Propensity to Consume

the fraction of any change in disposable income that is consumed; MPC = change in C / change in DI

Marginal Propensity to Save

the fraction of any change in disposable income that is saved; MPS = change is S / change in DI

3 0
3 years ago
According to the objective theory of​ contracts, the intent to enter into an express or​ implied-in-fact contract is judged by t
Klio2033 [76]

Answer:

A

Explanation:

The reason is that it just makes the most sense. Therefor your answer is A) According to the objective theory of​ contracts, the intent to enter into an express or​ implied-in-fact contract is judged by the​ reasonable people standard

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4 0
3 years ago
Read 2 more answers
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