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Crank
3 years ago
10

Fran was transferred from Phoenix to Atlanta She sold her Phoenix residence (adjusted basis of $250,000) for a realized gain of

$50,000 and purchased a new residence in Atlanta for $375,000 Fran had owned and lived in the Phoenic residence for 6 years What is Fran's recognized gain or loss on the sale of the Phoenix residence and her basis for the residence in Atlanta?
A. $0 recognized gain/loss; $375,000 basis
B. $0 recognized gain/loss $425,000 basis
C. ($50,000) recognized loss; $325 000 basis
D. ($50,000) recognized loss; $375,000 basis

Business
1 answer:
Vedmedyk [2.9K]3 years ago
8 0

Answer:

A. $0 recognized gain/loss; $375,000 basis

Explanation:

Please see attachment.

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Variable production costs Plastic for casing $ 171,500 Wages of assembly workers 490,000 Drum stands 215,600 Variable selling co
Leviafan [203]

Answer:

Part 1.

Contribution margin income statement for the year.

Sales (4,900 x 340)                                                        1,666,000

<u>Less Variable Costs </u>

Plastic for casing                                        171,500

Wages of assembly workers                   490,000

Drum stands                                              215,600

Sales commissions                                    161,700       (1,038,800)

Contribution                                                                      627,200

<u>Less Fixed Costs</u>

Taxes on factory                                          6,000

Factory maintenance                                 12,000

Factory machinery depreciation               72,000

Lease of equipment for sales staff           12,000

Accounting staff salaries                           62,000

Administrative management salaries      142,000       (306,000)

Net Income                                                                      321,200

Part 2.

Contribution margin per unit = $627,200 / 4,900  = $128.00

Contribution margin ratio =  $627,200/ $1,666,000 = 37.65 %

Explanation:

The Contribution Margin Income Statement calculates separately the contribution and net income as shown above.

4 0
2 years ago
Home Value Inc., Max Cart Inc., and Nice Necessities Inc. are three consumer-product retailing companies. Their products consist
ruslelena [56]

Answer:

D. Any advantage that one firm has will be short-lived.

Explanation:

With the three firms all producing the same product with similar resources in their production and distribution of their products, any advantage that a firm has over the others if any would not last long at all. This is because each firm is using similar technique in the same location. Hence, there's nothing special about one of the firms over the others.

8 0
3 years ago
You were planning to spend Friday working at your part-time job, but a friend asks you to go kayaking.
N76 [4]

The statement that applies are the rental of ant kayak equipment you need the wages that you forgo by going kayaking and the fee for accessing the river in a national park

Explanation:

The true cost for going to a particular place includes all that costs that are included from moving to a place that includes all the wages and the vehicle cost

Here the opportunity costs includes the fee to go to the national park by crossing the river and the amount that is needed to be spent on the equipment and the wages that must be forgo by going to kayaking all these statements best includes the true costs of going to kayaking

7 0
3 years ago
Let's consider the issue of promoting competition---sounds like a core us value. competition is good for the consumer and good f
Lorico [155]
<span>Circumstances that help Walmart succeed usually makes it difficult for little businesses to thrive. The absence of government regulation generally profits big businesses and is unfavorable to small businesses. This leads to the emergence of monopolies and the abolishment of little businesses, even if they are original and innovative. In theory; more government regulation (if fair and just) would help small businesses compete more fairly with big business.</span>
4 0
3 years ago
Bill Dukes has $100,000 invested in a 2-stock portfolio. $35,000 is invested in Stock X and the remainder is invested in Stock Y
Jet001 [13]

Answer:

The portfolio's beta is <u>0.98</u>

Explanation:

Stock beta id the weghted average beta of a portfolio, Use following formula to calculate the portfolio beta

Portfolio beta = ( Beta of stock X x Weight of Stock X ) + ( Beta of stock Y x Weight of Stock Y )  

As per given data

Stock ______ Amount Invested ______ Beta

X _________ $35,000 _____________ 1.50

Y _________ $65,000 _____________ 0.70   ( $100,000 - $35,000 )

Placing values in the fromula

Portfolio beta = ( 1.50 x $35,000/$100,000 ) + ( 0.70 x $65,000/$100,000 )

Portfolio beta = 0.525 + 0.455

Portfolio beta = 0.98

5 0
3 years ago
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