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wolverine [178]
3 years ago
15

Matthew owns a warehouse that is used in business while Pamela owns land. Matthew exchanges the warehouse for the land, which wi

ll be held for investment. The FMV of the warehouse is $200,000 (basis $120,000) and the warehouse is subjected to a mortgage of $40,000, which is assumed by Pamela. Matthew receives $10,000 cash and the land, which has a FMV of $150,000 (basis of $130,000 to Pamela). What is the amount of Pamela's recognized gain or loss?
Business
1 answer:
Virty [35]3 years ago
7 0

Answer:

Paloma gains $80,000

Explanation:

From the question,

Property received :

Land = 150,000

Cash = 10,000

Debt assumed by Pamela = 40,000

Total = 200,000

From the Warehouse she give out

= 120,000

Therefore 200,000 - 120, 000 = 80,000.

Hence $80,000 is the gain she realised.

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3 years ago
The Ad Council of America creates an ad that shows teens in a car having fun while driving in the city. They are enjoying music
valentinak56 [21]

Answer:The idea of the Ad - do not text while driving

Explanation:

Texting and driving is dangerous – that is a fact. Americans are highly aware of and concerned about the issue. More than nine in ten Americans believe sending (94%) and reading (91%) texts while driving is dangerous or very dangerous. There have been many efforts to educate and convey the potential consequences of texting and driving using scare tactics or preachy messaging. And, while research shows that people are convinced that the behavior is dangerous, they are still doing it. In order to address the disconnect between awareness and behavior, the Texting and Driving Prevention campaign aims to go beyond showing people the potential crashes and gruesome end results.Texting while driving, also called texting and driving, is the act of composing, sending, reading text messages, email, or making similar use of the web on a mobile phone while operating a motor vehicle. Texting while driving is considered extremely dangerous by many people, including authorities, and in some places have either been outlawed or restricted. As a form of distracted driving, texting while driving significantly increases the chances that a driver will be involved in a motor vehicle accident.

4 0
3 years ago
1. Define "Minimum wage", and tell me what the current minimum wage is today.
Dmitriy789 [7]

Answer:

1) Minimum wage is the base pay, or lowest pay, an employee can get without commission

2) social security is any government system that provides monetary assistance to ppl with an inadequate, or nonexistent income

3) 2037

4) hourly pay is an income that gets paid by the amount of time you were in work, and not how much you worked, if u spent more time working, u get paid more

salary pay is when an employee has a set pay that does not fluctuate

6) an addition to employees on top of their base salary

Explanation:

7 0
3 years ago
In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers
sesenic [268]

Option A, The modification would make products more consistent with the expectations of the consumer.

<u>Explanation: </u>

The process to change the current products according to customer requirements is product modification.

Each material has external characteristics such as volume, form, texture, color, etc. and internal effects such as strength, toughness and other characteristics.

The transition in the existing product is referred to as product modification as per customer requirements. It may change the interior or external appearance of the property.

For Example, Mobile is a perfect example of recognizing product changes. Compare the app which started a year ago with the new mobile devices.

6 0
3 years ago
Jamison Company reports depreciation expense of $48,000 for Year 2. Also, equipment costing $164,000 was sold for a $5,800 gain
V125BC [204]

Answer:

The correct answer is (a) $41,800.

Explanation:

Solution:

Given that:

The first step taken is to calculate for depreciation on sold equipment:

                                                                       Amount($)

Accumulated depreciation in Year -1  (a) = 540000

Depreciation for the year 2 (b) =  48000

Accumulated depreciation to be in year 2 c=(a+b)=588000

Reported accumulated depreciation in year 2(d)=460000

Thus,

Depreciation on sold Equipment e= (c-d) = 128000

Now,

The second step is to calculate sale proceeds:

Cost (a)= 164000  

Depreciation(b) =128000

The written dawn value c=(a-b) = 36000

Gain on sale of equipment (d)=5800  

The Sale Price (c+d)=41800

Therefore, the sale of the equipment is $41,800

5 0
3 years ago
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