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
yulyashka [42]
3 years ago
14

Peroni Corporation sold a parcel of land valued at $300,000. Its basis in the land was $250,000. For the land, Peroni received $

150,000 in cash in the current year and a note providing Peroni with $150,000 in the subsequent year. What is Peroni's recognized gain in the current and subsequent year, respectively?
a. $0, $50,000.
b. $10,000, $40,000.
c.$25,000, $25,000.
d. $50,000, $0.
e. None of the choices are correct.
Business
1 answer:
Reptile [31]3 years ago
3 0

Answer:

Correct option is C.

<u>$25,000, $25,000.</u>

Explanation:

Gross profit on sale = (300,000-250,000)/300,000 = 16.67%

Gain recognized in:

Year 1 = 150,000 * 16.67% = 25,000

Year 2 = 150,000 * 16.67% = 25,000

You might be interested in
On january​ 1, 2017​ hillop, inc. had total assets of​ $370,000. during the​ year, the company purchased new machinery worth​ $8
makvit [3.9K]
<span>asset turnover ratio is the ratio of the value of a company's sales or revenues generated relative to the value of its assets. The Asset Turnover ratio can often be used as an indicator of the efficiency with which a company is deploying its assets in generating revenue. Given that the sales is 60k and the value of the asset is 370k, the ratio is simply the sales / value of assets which is 60/(370-88).</span>
5 0
3 years ago
If you are busy with another customer when someone comes in, what can you do? select one:
prohojiy [21]
Ab. smile at them and make eye contact while you continue to help the first customer so they know they were recognized and not being ignored.
7 0
4 years ago
Question:
Oduvanchick [21]

A purpose of government regulation in a mixed-market economy is to protect  A) Property rights

3 0
4 years ago
If i filed my taxes on jan 31 when should i get them back.
Natali5045456 [20]
February 25th(direct deposit),March 4th(mailed check)
4 0
3 years ago
The accompanying table shows a small community's demand for monthly subscriptions to a streaming movie service. Assume that only
Effectus [21]

Answer:

The correct answer is (b) Nextflix supplies 250 subscriptions and Flixbuster supplies 250 subscriptions.

Explanation:

Solution

Now,

A monopolist would supply where the total revenue is Maximum

So, quantity produced = 500 where each will produce 500/2

=250 units

Therefore from the given question stated as, If the two firms operating in this market agreed to each supply one-half of the quantity a monopolist would supply, the contract would specify that: Nextflix supplies 250 subscriptions and Flixbuster supplies 250 subscriptions.

4 0
3 years ago
Other questions:
  • Because all work ultimately entails some human interaction, effort, or involvement, Bossidy and Charan believe that focusing on
    15·1 answer
  • Brad operates a storage business on the accrual method. On July 1 Brad paid $48,000 for rent on his storage warehouse and $18,00
    10·1 answer
  • On January 1, Year 5, customers owed Eagle $40,000. On December 31, Year 5, customers owed Eagle $30,000. Eagle uses the direct
    5·1 answer
  • Because of its effect on the amount of capital per worker, in the short term an increase in the working population is likely to
    5·1 answer
  • Equipment with a cost of $150,000 has an accumulated depreciation of $100,000. What is the historical cost of the equipment?
    5·1 answer
  • which result is a positive aspect of globalization a.intense competition b. decreased profit margins c. increased cooperation co
    11·1 answer
  • Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control c
    7·1 answer
  • ook at these two sentences about Undeposited Funds: By posting to Undeposited Funds, you can create a single bank deposit for mu
    12·1 answer
  • What topic should not be discussed in a salon (Cosmetology) ​
    10·1 answer
  • You deposit $1,000 into a 2 year Certificate of Deposit (CD), which earns 2% interest per year. During those 2 years, the inflat
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!