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
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.

You might be interested in
Sienna’s take home pay is $13,400. The company deducts $200 from her pay as part of her voluntary deductions. Her total tax dedu
dlinn [17]

Answer:

Gross pay= $20,000

Explanation:

She takes $ 13,400.

the company deducted $200 as voluntary deductions.

She had $13600 after paying tax 32%which is equivalent to 68%

$                      %

13600              68

x                      100

x= 13600*100/68= 1360000/100= $20,000

Her gross pay is $ 20,000

6 0
3 years ago
A company forecasts sales of $91,500 for the quarter ended December 31. Its gross profit rate is 18% of sales, and its September
nlexa [21]

Answer:

Purchases=  $57,530

Explanation:

Giving the following formula:

Production= 91,500*(1 - 0.18)= $75,030

Beginning inventory= $25,000

Desired ending inventory= $7,500

<u>To calculate the budgeted purchases, we need to use the following formula:</u>

<u></u>

Purchases= production + desired ending inventory - beginning inventory

Purchases= 75,030 + 7,500 - 25,000

Purchases=  $57,530

6 0
3 years ago
Charging high prices to earn large profits during a time when there is little competitionrepresents a ________ strategy:________
Usimov [2.4K]

Answer:

Skimming

Explanation:

Price skimming, also known as skim pricing, is a pricing strategy used by those who face little or no competion, what normally happens is that a firm charges a high price and then gradually may need to lowes the price to attract more customers.

Price skimming is used to earn large profits especiallyn when a new product or service is introduced into the market. The pricing strategy is largely useful iwhen the firm is the first to enter the marketplace. The aim of this is to generate the large profit in the shortest time possible.

6 0
3 years ago
Read 2 more answers
Compute the present value of $1,150 paid in three years using the following discount rates: 6 percent in the first year, 7 perce
jekas [21]

Answer:

The present value is $938.82

Explanation:

Giving the following information:

Compute the present value of $1,150 paid in three years using the following discount rates: 6 percent in the first year, 7 percent in the second year, and 8 percent in the third year.

We need to discount the final value of $1,150 for each discount rate starting in year 3.

PV= FV/(1+i)^n

Year 3= 1,150/1.08= 1,064.81

Year 2= 1,064.81/1.07= 995.15

Year 1= 995.15/1.06= 938.82

The present value is $938.82

5 0
3 years ago
Select the best closing paragraph of a bad-news letter. a. Once again, we want to express how sorry we are that we are not able
Alina [70]

Answer:b

Explanation:

3 0
3 years ago
Other questions:
  • Large companies such as Walmart, IBM, and Ford are classified as A. S-corporations. B. C-corporations. C. limited liability comp
    5·2 answers
  • Lauer Corporation provided the following information about one of its laptop computers: Date Transaction Number of Units Cost pe
    13·1 answer
  • The study done by the Committee of Sponsoring Organizations (COSO) on financial statement frauds that occurred during the period
    5·1 answer
  • Malik Corp.'s bank statement has an ending balance of $50,000. The deposits in transit were $6,000. NSF checks were $1,000. Chec
    5·1 answer
  • A company sold equipment that originally cost $100,000 for $60,000 cash. The accumulated depreciation on the equipment was $40,0
    6·1 answer
  • According to the objective theory of​ contracts, the intent to enter into an express or​ implied-in-fact contract is judged by t
    15·2 answers
  • After listening to the talk or speech (select any one speech if you listened to more than one), write why you think the speaker
    12·1 answer
  • Jane's Donut Co. borrowed $200,000 on January 1, 2021, and signed a two-year note bearing interest at 12%. Interest is payable i
    5·1 answer
  • Programs designed to create a workplace that enhances employee well-being are referred to as ________ programs.
    15·1 answer
  • Project management is no longer considered a special-need management tool; thus, learning project management skills is personall
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!