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
alexandr1967 [171]
3 years ago
14

Allison buys equipment and pays cash of $50,000, signs a note of $10,000 and assumes a liability on the property for $3,000. In

addition. Allison pays an installation coat of $500 and a delivery coat of $800. Allison's basis in the asset is A) $63, 500. B) $63,000. C) $64, 300. D) $60,000.
Business
1 answer:
slava [35]3 years ago
3 0

Answer:

The answer is C) $64, 300.

Explanation:

basis in a business asset is basically the cost of that asset.

Allison's basis in the asset= $50,000+ $10,000+ $3,000+ $800+ $500 =  $64,300.

You might be interested in
On May 1, Year 1, Benz’s Sandwich Shop loaned $18,000 to Mark Henry for one year at 9 percent interest. Required a. What is Benz
ehidna [41]

Answer:

a) $1080

b)$19080

c) Loan given | -$18000

d)$540

e)$19620

f)loan | 18000

Interest received | $1620

g)  $1620

Explanation:

a) Year 1 : a) Interest income = $18000*9%*8/12 = $1080

b) The total receivable at december 31,Year = 18000+1080 = $19080

c)  Year 1  :Statement of cash flow

Loan given | -$18000

d) Interest income Year 2 = $18000*9%*4/12 = $540

e) Total cash collect in 2017 = $18000+$1080 + $540 = $19620

f) Cash flow from investing activities :

           loan | 18000

           Interest received | $1620

g)Total interest earned = 18000*9% = $1620

7 0
3 years ago
Scenario: assume that you are a cashier and your manager requires that you immediately enter each sale when it occurs. recently,
soldier1979 [14.2K]
As a cashier it is your responsibility to follow the manager's instruction of entering each sale immediately after it occurs. Now, if the assistant manager told you otherwise, do not follow it because you might miss any sale if it will be entered later. Even if it is lunch hour traffic, this is also a crucial time to not make errors. 
7 0
3 years ago
Read 2 more answers
A worthless security had a holding period of six months when it became worthless on December 10, 2020. The investor who had owne
mariarad [96]

Answer: B. The investor has a short-term capital loss of $20,000.

Explanation:

A short-term loss occurs when a deficit is realized when there's a sale of an asset which has been held by the person for a period of one year or less.

In this case, since the security was worthless, it's a loss and was also help for six months which is less than one year, then it's a short term capital loss.

Therefore, the correct option is B

6 0
2 years ago
I toss a penny and observe whether it lands heads up or tails up. Suppose the penny is fair, i.e., the probability of
Alexandra [31]

Answer:

A) if I flip the coin many, many times, the proportion of heads will be approximately 1/2, and this proportion will tend to

get closer and closer to 1/2 as the number of tosses increases.

Explanation:

Probability is described as the likelihood of an event happening. It is expressed in numerical fractions between zero and one. Zero means near certainty that the event will not occur while one is a guarantee that the event is happening.

A probability of 1/2 signifies a 50 percent chance. In a coin toss, 1/2 probability means the coins have 50 chance of landing on either tail or head. A coin has only two sides. Each ill toss presents a head or tail. The more tosses one makes, the proposition of heads to tail get closer 1/2. Very many tosses will give show 1/2 to either tails or head.

7 0
3 years ago
OS Environmental provides cost-effective solutions for managing regulatory requirements and environmental needs specific to the
Marat540 [252]

Answer:

See attached file

Explanation:

3 0
2 years ago
Other questions:
  • Wyatt's annual take-home pay is $39,000. what is the maximum amount that he can spend per month paying off credit cards and loan
    15·2 answers
  • Claudia, a senior accountant, likes to work on her own and hence does not come out as a team player. She takes up all the work t
    8·1 answer
  • Suppose you can afford to invest $1,000 each month into an account that pays 15% per year. How many years will you need to make
    11·1 answer
  • When a project has a positive total slack, some activities can be ________ without jeopardizing completion of the project by its
    15·1 answer
  • A firm has determined its cost of each source of capital and its optimal capital structure which is comprised of the following s
    8·1 answer
  • Suppose the cost per hour incurred in operating a cruise ship is 3a + bv3 dollars per hour, where a and b are positive constants
    5·1 answer
  • How does savingd intrest work?​
    8·1 answer
  • I know this is very off topic and I might get banned for this but... I just got a guinea pig. He is Black and Brown with ,like o
    14·2 answers
  • Suzette's husband told her, "I admire your boldness, but I'm not sure that you should open that business. I've heard that entrep
    9·1 answer
  • I am bad as worst and worst as excellent​
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!