Answer:1.B.2.A,3.C,4.C,5.D i hope these are the answers
Explanation:
I think the deduct checks outstanding should be deducted from the bank balance and deposit outstanding should be added to the bank balance
Answer:
The answer is: $339,355
Explanation:
We first find the broker's commission: $359,900 sale price × .05 = $17,995
Then we calculate the amount realized from sale: $359,900 (sale price) - $17,995 (broker's commission) - $2,550 (closing costs) = $339,355
The adjusted basis for this house is: $225,000 (purchase price) + $27,500 (capital improvements) = $252,500
Finally we can now determine the capital gain: $339,355 - $252,500 = $86,855