The correct answers are, $1200 and -$200.
Sydney has taken depreciation on the shelves of $300. The amount of basis and the amount of the gain or loss recognized on the sale of the shelves are $1200 and -$200 respectively.
Explanation:
Fair market value at the date of conversion = $1,500
Depreciation on the Shelves = $300
Basis = Fair market value - Depreciation
Basis = $1500 - $300 = $1,200
So Basis = $1,200
Now
Sale Price of Shelves = $1,000
Adjusted Basis = $1,200
Loss would be = Sale price - Adjusted Basis
Loss = $1000 - $1200
Loss = -$200
So, Loss = $200
Learn more about depreciation at:
brainly.com/question/10456007
#LearnWithBrainly
Answer:
"Cold calling" or "cold messaging" is of the most irritating methods to the potential customers.
This is because cold calling tends to be very long. It is time wasting and frustrating to the listener, especially when they are not interested in the advertisement, acknowledgement of the products. In addition, this method has the characteristic of unprofessional and like spammer. Cold calling makes every listener the same and it can make the potential customers irritated feeling they are not respected by the firm.
Answer:
Option B (capital and financial; foreign investment in the United States minus) is the correct choice.
Explanation:
The capital account of one community applies to anything and everything movements of foreign resources. Overall investment as well as profits are demonstrated with the help of savings and loans streaming into or out of the government through the inlet and outlet of assets.
A nation's monetary or financial account has been further separated into two sub-accounts:
- International asset possession.
- Domestic asset ownership.
The other given choices are not related to the given circumstances. So that option B would be the appropriate choice.
Answer:
The difference between the value of the inventory under LIFO and the value under FIFO
Explanation:
The Lifo reserve an inventory account that represents the difference between the FIFO and LIFO inventory reporting methods. The account is used to bridge the gap between the two reporting systems. It is applied when a company uses FIFO to track stock movement and LIFO in preparing financial statements.
A credit balance in the LIFO reverse helps reduce the cost of inventory when reporting in the balance sheet.
