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IRISSAK [1]
3 years ago
12

Shontelle owns an apartment house that has an adjusted basis of $760,000 but is subject to a mortgage of $192,000. She transfers

the apartment house to Dave and receives from him $120,000 in cash and an office building with a fair market value of $780,000 at the time of the exchange. Dave assumes the $192,000 mortgage on the apartment house. What is Shontelle’s realized gain or loss?
Business
1 answer:
emmainna [20.7K]3 years ago
3 0

Answer:

Realized gain of Shontelle = $332000

Explanation:

given data

adjusted basis = $760,000

mortgage = $192,000

receives cash = $120,000

fair market value = $780,000

to find out

What is Shontelle realized gain or loss

solution

we find here first Realized gain that is express as

Realized gain = Amount realized - Adjusted basis     ..................1

so here Amount realized = (receives cash  + fair market value + mortgage)

Amount realized = (120000 + 780000 + 192000)

Amount realized = 1092000

so from equation 1

Realized gain = Amount realized - Adjusted basis  

Realized gain = 1092000 - 760000

Realized gain =  $332000

so we can say that

Realized gain of Shontelle = $332000

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3 years ago
A company uses a process cost accounting system. Its Sewing Department's beginning inventory consisted of 50,000 units (1/4 comp
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Answer:

B Direct Materials 210,000; Conversion Cost 180,000

Explanation:

beginning inventory 50,000

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Complete and trasnferred-out 170,000

Convesion Cost:

Coplete and transferred-out     170,000

Ending Inventory 40,000 x 1/4 = 10,000

CC equivalent units                  180,000

DIrect Materials

Coplete and transferred-out         170,000

Ending Inventory 40,000x100%  = 40,000

DM equivalent units                       210,000

<u>Under W-A method we justdiscriminate on transferred-out and ending work in process.</u>

We don't do the difference between started and finished and beginning inventory.

8 0
3 years ago
While on a trip to South Africa, Elena was impressed with colorful woven outdoor placemats, floor mats, chair cushions, and umbr
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Answer:

Before starting her import business, Elena should try to gather relevant information from companies that import goods, and if possible information about companies that import African goods.

Explanation:

Elena might be right about American consumers liking African products, but if importing those goods is too difficult, or is subject to several trade barriers, or some other issues, then Elena might have to reconsider her idea. Sometimes no matter how good a business idea is, if it is impractical to carry out, then t is useless.

6 0
3 years ago
"The average monthly rent for a two-bedroom apartment in City A is $820 with a standard deviation of $86. The average monthly re
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Answer:

Explanation:

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In case of City A

coefficient of variation  = 86 / 820

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Since it is less for city B , rent for this city is more consistence or with less of variation

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5 0
3 years ago
Linda's health insurance plan requires that she have a physician that manages all of her healthcare. Linda, most likely, has wha
xxMikexx [17]

Linda has a Health Maintenance Organization (HMO) insurance plan.

Further Explanation:

Health Insurance plan:

Health insurance plan is a type of insurance plan where the insured party gets the coverage for the medical expenses incurred. Health insurance plan would reimburse for the medical treatment that is recorded in the contract between the insurance company and the insured party.

Health Maintenance Organization (HMO):

Health Maintenance Organization provides health plans to the individuals. HMO is a private or public organization that renders health services to its user or subscribers. Subscribers are the individuals who opt for HMO as a health insurance plan. HMO does not provide the health services directly to the user or subscribers. HMO provides the services through various medical insurance provider entities such as doctor, physician, specialist and clinic facility.

HMO subscribers pay periodic (Monthly, quarterly or yearly) premium to HMO. HMO pays the medical entities that are connected to it for providing the services to the individuals. It promotes the higher quality of health treatment for a lower premium.

HMO subscribers pay their periodic premium and get the medical services from the medical entities. The medical entities manage all the healthcare of the subscribers. HMO subscribers can take the medical services only from the contracted medical entities. An HMO subscriber chooses a primary care physician. HMO subscriber can seek medical assistance from the appointed primary care physician only. This physician manages all the healthcare services of the individual.

Linda’s insurance plan:

In the given case, Linda’s insurance plan requires her physician to manage all her health care.

Linda has a Health Maintenance Organization (HMO) health insurance plan. HMO states that the physician provided by the HMO would manage all the activities related to healthcare. The physician is a medical entity that has a contract with HMO to provide the medical assistance to the subscriber of the HMO insurance plan. HMO pays them to assist the subscribers and they manage all the healthcare of the subscribers.

<u>So the current insurance plan is a Health Maintenance Organization (HMO).</u>

Learn more:

1. Learn more about the percentage of costs method brainly.com/question/12960656

2. Learn more about the manufacturing cost brainly.com/question/10570313

3. Learn more about the cost allocation brainly.com/question/12960164

Answer details:

Grade: Senior School

Subject: Business Law

Chapter: Insurance

Keywords: Linda, Insurance plan, Healthcare, Physician, Health insurance, Insurance, Health Maintenance Organization, HMO, Insurance, Health insurance plan, Business law, Type of insurance plan.

8 0
2 years ago
Read 2 more answers
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