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olga_2 [115]
3 years ago
10

Abigail and Darcy are married. In 2017 they sold there home, which they had purchased in 2012, and lived in it since 2013. They

sold the house for $865,000. They purchased the house for $270,000 and made improvements costing $45,000. Abigail and Darcy immediately purchased another home for $800,000. What is their recognized gain in 2017 from the sale of the home assuming this is the only home they ever sold?
Business
1 answer:
iris [78.8K]3 years ago
7 0

Answer:

<u>$485,000</u>

Explanation:

Initial cost of home= $270,000+$45,000= $315,000.

Recognized gain= $800,000 - $315,000 = $485,000.

Remember, it was mentioned that Abigail and Darcy immediately purchased another home for $800,000. Very likely this money was derived from the first and only home they ever sold.

Therefore, their recognized gain after substracting the cost is $485,000.

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ozzi

Answer:

Cost of service to provide one haircut is $ 11.04

Explanation:

Hair saloon expense: $500

Building rent expense: $1,458

Utilities expense: $200

Depreciation expense --- Equipment: $50

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3 years ago
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Answer:

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Explanation:

The computation of the cash collected in December is shown below:

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December collection amount   $46,800          $77,000           $26,550

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8 0
3 years ago
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Answer:

B) the wages received for the fifth day of work.

Explanation:

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3 years ago
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