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guapka [62]
3 years ago
8

On october 1, 2014, donald anderson exchanged an apartment building having an adjusted basis of $375,000 and subject to a mortga

ge of $100,000 for $25,000 cash and another apartment building with a fair market value of $550,000 and subject to a mortgage of $125,000. the property transfers were made subject to the outstanding mortgages. what amount of gain should anderson recognize in his tax return for 2014?
a. $0
b. $25,000
c. $125,000
d. $175,000
Business
1 answer:
lord [1]3 years ago
4 0
Ya yeet. i really like this question you did a really swell fly guy job!!!!!!!
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Wims, Inc., has current assets of $3,400, net fixed assets of $32,500, current liabilities of $2,900, and long-term debt of $6,9
ss7ja [257]

Answer:

$26,100

Explanation:

Shareholders' equity = Total asset - Total liability

Shareholders' equity = (3,400 + 32,500) - (2,900 + 6,900)

Shareholders' equity = 35,900 - 9,800

Shareholders' equity = 26,100

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3 years ago
Which of the following statements about oligopolies is not correct? a. An oligopolistic market has only a few sellers. b. The ac
Finger [1]

Answer:

d. Unlike monopolies and monopolistically competitive markets, oligopolies prices do not exceed their marginal revenues.

Explanation:

An oligopoly can be defined as a market formation where in a given sector of the economy there are only a small number of competing companies offering a product or service. Its structure is formed by imperfect competition (between monopoly and perfect competition).

The difference between monopoly and oligopoly is that the number of companies that the market has will set the price of products in an oligopoly market, whereas in the monopoly only one company dominates the market and therefore that company determines the price of the good, as it is a market without competition. Therefore, alternative D is the incorrect one.

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3 years ago
g rporation's budgeted sales for February are $334,000. Webster pays sales representatives a commission of 6% of sales dollars.
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Answer:

$28,240

Explanation:

Total sales = $334,000

Variable cost:

Sales commissions = $334,000 × 6%

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Total fixed costs = Sales manager's salary + Advertising expenses

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Total selling expenses = Total variable cost + Total fixed cost

                                      = $20,040 + $8,200

                                      = $28,240

Therefore, the total selling expenses to be reported on the selling expense budget for the month of February is $28,240.

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4 years ago
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