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son4ous [18]
3 years ago
11

On September 18, 2019, Gerald received land and a building from Frank as a gift. No gift tax was paid on the transfer. Frank’s r

ecords show the following. Asset Adjusted Basis FMV Land $100,000 $212,000 Building 80,000 100,000 Do not round any division. Round your final answer to the nearest dollar. a. Determine Gerald's adjusted basis for the land and building. Gerald's adjusted basis for the land is $. Gerald's adjusted basis for the building is $. b. Assume instead that the fair market value of the land was $87,000 and that of the building was $65,000. Determine Gerald's adjusted basis for the land and building. Gerald's basis for gain: Gerald's adjusted basis for the land is $. Gerald's adjusted basis for the building is $. Gerald's basis for loss: Gerald's adjusted basis for the land is $. Gerald's adjusted basis for the building is $.
Business
1 answer:
ExtremeBDS [4]3 years ago
4 0

Answer:

Explanation:

a. The computation of the adjusted basis for the land and building is shown below:

For land = $100,000

For building = $80,000

b. Gerald's basis for gain:

Gerald's adjusted basis for the land is $100,000

Gerald's adjusted basis for the building is $80,000

Gerald's basis for loss:

Gerald's adjusted basis for the land is $87,000 (fair value)

Gerald's adjusted basis for the building is $65,000 (fair value)

Since all the values are given in the question we simply put them in the correct items

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F. in late 2010 hca announced an intended dividend recapitalization in which it would pay a $2 billion dividend to shareholders
Andrews [41]

Answer:

The times interest earned ratio will reduce

Explanation:

The times interest earned ratio is a ratio that looks at how many times a companies earnings from operations can cover the loan interest it has to pay in a year.

It is calculated by the formula Earnings Before Interest and Tax divided by the interest expense.

Therefore looking at the scenario, if HCA increases its debt level by issuing a $1.53 billion bond, this will increase its interest expense significantly and the number of times its earnings will cover its interest expense will be remarkably lower.

Therefore the times interest earned ratio will reduce

4 0
3 years ago
Read 2 more answers
Weiss Company purchased two identical inventory items. The first purchase cost $30 and the second cost $32. When the Company sol
zhuklara [117]

Answer:

a) FIFO

Explanation:

FIFO means first in, first out. It is an inventory system where the first purchased inventory is the first to be sold . The cost of goods sold is $30 which is equal to the price of the first purchased inventory . Therefore, the FIFO inventory system was used.

LIFO means last in, first out. It is an inventory system where the last purchased inventory is the first to be sold.

Weighted average is when the weighted price of inventory is used as the cost of goods sold.

I hope my answer helps you.

3 0
3 years ago
A firm agreed to pay its workers ​$2525 an hour in 2016 and ​$4141 an hour in 2017. The price level for these years was 241 in 2
NemiM [27]

Answer:

(a) 10.4%; 16.73%

(b) 6.33%

Explanation:

Given that,

Wages paid to the workers in 2016 = $25 per hour

Price level in 2016 = 241

Wages paid to the workers in 2017 = $41 per hour

Price level in 2017 = 245

Real wage rate in 2016:

= (Nominal wages ÷ Price level) × 100

= ($25 ÷ 241) × 100

= 0.104 × 100

= 10.4%

Real wage rate in 2017:

= (Nominal wages ÷ Price level) × 100

= ($41 ÷ 245) × 100

= 0.1673 × 100

= 16.73%

Therefore, the real wage increase received by these workers in​ 2017 is calculated as follows:

= Real wage rate in 2017 - Real wage rate in 2016

= 16.73% -  10.4%

= 6.33%

Hence, these workers do get a raise between the two years.

8 0
2 years ago
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vovangra [49]
A company that makes and sells railway cars looking for a representative and I know this because it is the best fit for his skills
3 0
3 years ago
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Q. A country's comparative advantage in the extraction of commodities most likely stems from its: A. high labour to capital rati
Andru [333]

Answer:

B. large amount of natural resources

Explanation:

Comparative advantage is a country's ability to produce a product or service for a lower opportunity cost than rival countries.  Opportunity costs are the benefits given up in the extraction process. If a  country has a large amount of natural resources, it will use fewer resources in the extraction process than other countries. The trade-off costs will be so little compared to the benefits.

Other countries will find it cheaper to import from a country with large natural resources. For example, oil-rich nations have a comparative advantage in the extraction and processing of oil and oil by-products.

4 0
3 years ago
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