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
ozzi
3 years ago
9

Mary exchanged an office building used in her business for some land. Mary originally purchased the building for $45,000, and it

had an adjusted basis of $20,000 at the time of the exchange. The land had a fair market value of $40,000. Mary also gave $4,000 to the seller in the transaction. What is Mary's adjusted basis in the land after the exchange?
Business
1 answer:
Savatey [412]3 years ago
7 0

Answer:

$24,000

Explanation:

The computation of the adjusted basis in the land after the exchange is shown below:

= Adjusted basis at the time of exchange + additional amount given

= $20,000 + $4,000

= $24,000

We simply added the Adjusted basis at the time of exchange and the additional amount so that the accurate value can come.

And the other information which is given in the question is not relevant. Hence, ignored it

You might be interested in
Byrd Company decided to analyze certain costs for June of the current year. Units started into production equaled 14,000 and end
Molodets [167]

Answer: Option (C) is correct.

Explanation:

Units Started into the production = 14,000 Units

Ending work in process = 2,000 units

Transferred Units = Units in the starting - Ending work in process

                              = 14,000 units - 2,000 Units

                              = 12,000 Units

Equivalent units = Transferred units + Ending work in process in units × % of Completion

                            = 12,000 Units + 2,000 Units × 25% complete

                           = 12,000 + 2,000 × 0.25

                           = 12,000 units + 500 units

                            = 12,500 units

Total Conversion cost = $52,500

Conversion\ cost\ per\ Equivalent\ unit=\frac{Total\ Conversion\ cost}{Equivalent\ Units}

Conversion\ cost\ per\ Equivalent\ unit=\frac{52,500}{12,500}                                                          

                                                                        = $4.2

5 0
3 years ago
Do It! Review 11-3a Incorrect answer. Your answer is incorrect. Try again. Riverbed Corp has 3,300 shares of 7%, $103 par value
harina [27]

Answer and Explanation:

1. The preferred stock is non-cumulative, and in previous years, the company has not skipped any dividends.

Dividend paid to preferred shareholders = Shares × Par value preferred stock × Shares percentage

= 3300 × $103 × 7%

= $23,793

Dividend paid to common shareholders = Cash dividend - Dividend paid to preferred shareholders

= $123,500 - $23,793

= $99,707

2. The preferred stock is non-cumulative, and in both of the two previous years, the company did not pay a dividend.

Dividend paid to preferred shareholders = Shares × Par value preferred stock × Shares percentage

= 3300 × $103 × 7%

= $23,793

Dividend paid to common shareholders = Cash dividend - Dividend paid to preferred shareholders

= $123,500 - $23,793

= $99,707

3. The preferred stock is cumulative, and in both of the two previous years the company did not pay a dividend.

Dividend paid to preferred shareholders =  Shares × Par value preferred stock × Shares percentage × Number of years

= 3,300 × $103 × 7% × 3

= $71,379

Dividend paid to common shareholders = Cash dividend - Dividend paid to preferred shareholders

= $123,500 - $71,379

= $52,121

5 0
3 years ago
If government cuts taxes. A. after tax income should increase shifting AD to the right to a higher equilibrium level of output B
Vera_Pavlovna [14]

Answer:

A. after tax income should increase shifting AD to the right to a higher equilibrium level of output

Explanation:

If the government reduces tax, the after tax income would increase and so woold demand. Thus, the aggregate demand curve would shift rightward to a higher equilibrium level of output.

If the government cuts taxes, after tax income should decrease shifting AD to the left to a lower equilibrium level of output

I hope my answer helps you

8 0
3 years ago
To find out which ads and other marketing strategies are working, many companies ask customers how they _____ about the company
Lyrx [107]

To find out which ads and other marketing strategies are working, many companies ask customers how they have heard about the company or product.

Most businesses ask how you found out about their service/product. By asking this question, they are able to track where their marketing efforts are working and where they are not. If they are advertising in one place and it's not reaching consumers, it may be worthwhile for them to take out advertisements there and move them to another place.

5 0
3 years ago
Kahn Company paid $240,000 to purchase a machine on January 1, Year 1. During Year 3, a technological breakthrough resulted in t
Serga [27]

Answer:

Yes, the machine should be replaced

Explanation:

The calculation is given below:

<u> Particulars              old Machine            New machine </u>

Purchase price                                       $300,000

Less:

Salvage value                                        -$80,000

Operating cost         $400,000              $144,000

                          ($100,000 × 4 )        ($36,000 × 4)

Total cost                 $400,000                $364,000

Hence, the financial advantage is

= $400,000 - $364,000

= $36,000

As there is a financial advantage of $36,000 therefore the old machine would be replaced with the new machine

4 0
3 years ago
Other questions:
  • A relocation of a short stretch of rural highway feeding into Route 390 northwest of Dallas is to be made to accommodate new gro
    8·1 answer
  • The primary drawback of the edison talking machine for sound recording was:
    7·1 answer
  • A chemical company that produces fertilizer for farms is partnering with an eco-friendly products group to brand an animal-frien
    14·1 answer
  • The fundamental limitation of a matrix structure is that it ________.
    12·1 answer
  • One of the biggest mistakes you can make during an interview is failing to match the interviewer’s communication style. Please s
    6·2 answers
  • Changes in the prices of key commodities can have a significant impact on a company’s bottom line. According to a September 27,
    9·1 answer
  • Tina’s Manufacturing Company reported total variable cost of $1,000,000. The managerial accountant reported 50,000 total number
    7·1 answer
  • In the Shaping Department of Oriole Company the unit materials cost is $4.00 and the unit conversion cost is $2.00. The departme
    9·1 answer
  • Jones Corporation purchased merchandise inventory with a 10%, 120-day note payable for $10,000. The company uses the perpetual i
    14·1 answer
  • Elijah, who is single, is employed as a full-time high school teacher. The school district where he works recently instituted a
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!