Answer:
Carpenter will have to pay taxes for a recognized gain of $150,000
Explanation:
When you are calculating taxes, you must use the adjusted a¿basis of the buildings.
Paul is exchanging a $450,000 building + $75,000 in cash for a $375,000 office building.
Paul's realized loss = $525,000 - $375,000 = $150,000
therefore Carpenter's recognized gain = $150,000
Answer:
c. cost ledger
Explanation:
Cost ledger is an accounting document that maintains costs records relating to various nominal or real accounts. Real accounts contain records of assets and property of a business. They include cash, furniture, building, plant and machinery. Nominal accounts are concerned with profits, loss, and expenses.
A cost ledger classifies accumulated costs in different ways. The cost ledger is the principal ledger in cost accounting. It contains all sub accounts and is similar to the general ledger in financial accounts. Each job, process, product, cost center, or project is recorded in a separate account.
Answer:
Spreading the Word
Connecting People
Explanation:
Social media has given a platform to many people to be able to share their likes, wants, and, in this case, their needs. People were able to spread the word that they needed something and created a larger audience.
Through social media you are also able to communicate about things. Ex: With instagram's many updates you are able to purchase things, sell things, and DM others for communication and buying things needed.