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
Ilya [14]
3 years ago
7

Tobin inherited 100 acres of land on the death of his father in 2019. A Federal estate tax return was filed and the land was val

ued at $300,000 (its fair market value at the date of the death). The father had originally acquired the land in 1976 for $19,000 and prior to his death had made permanent improvements of $6,000. What is Tobin's basis in the land
Business
1 answer:
Margarita [4]3 years ago
4 0

Answer:

Tobin's basis in the land is $300,000.

Explanation:

Since return was filed and the land was valued at $300,000 which was the fair market value at the time of death. then, Tobin's basis in the land is $300,000.

You might be interested in
an instance where sellers should work to keep relationships with consumers is when they feel that the product
irina1246 [14]
An instance where sellers should work to keep relationships with consumers is when they feel that the product
5 0
3 years ago
Q 6.26: Howard Incorporated is determining ending inventory. In the inventory process, Howard inadvertently miscategorized a $6,
Fudgin [204]

Answer:

This error will decrease Howard's inventory by $6,000

Explanation:

Howard's inventory should include:

inventory on hand + goods purchased FOB shipping point + goods sold FOB destination point.

FOB shipping point means that the title of the goods is passed at the moment that they leave the seller's warehouse. FOB destination point means that the title of the goods is passed only after they have been delivered to the buyer's warehouse.

In this case, Howard purchased goods as FOB shipping point, so that means they should have been included in their inventory. Since they weren't, this error will decrease its inventory by $6,000.

5 0
3 years ago
In a merger or acquisition, an asset should be acquired if it: is a firm in the same line of business in which the acquirer has
Scorpion4ik [409]

It generates a positive net present value to the shareholders of an acquiring firm.

<h3>Why Do Companies Merge With or Acquire Other Companies?</h3>

Mergers and acquisitions (M&As) are the acts of combining two or more companies or assets in order to stimulate growth, gain a competitive advantage, increase market share, or influence supply chains.

KEY LESSONS

  • Mergers and acquisitions (M&As) are the acts of combining two or more companies or assets in order to stimulate growth, gain a competitive advantage, increase market share, or influence supply chains.

  • A merger is the joining of two companies in which one of the companies ceases to exist after being absorbed by the other.

  • A merger occurs when one company acquires a majority stake in the target company, which keeps its name and legal structure.

To learn more about merger and acquisition from the given link

brainly.com/question/14195407

#SPJ4

4 0
2 years ago
Having recently found sources of oil on their own land, the newly established nation of Brotherton enacted a tariff on imported
Sunny_sXe [5.5K]

Answer:

revenue tariff

Explanation:

A revenue tariff is a tax levied on imported goods or services whose main purpose is to increase government revenue. It differs from other types of tariffs whose goal is to protect domestic products. E.g. a flat tariff levied on all types of imported goods.

8 0
3 years ago
If the consumer price index was 170 in one year and 180 in the next year, then the rate of inflation is approximately:
aliina [53]
Well the answer is quite easy just count From 170 to 180 and that leaves u with 10 so ur answer is ten
8 0
3 years ago
Read 2 more answers
Other questions:
  • Naomi is planning to get a job after graduating from college. Which explains why she should establish a positive credit history?
    8·1 answer
  • Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the
    15·1 answer
  • Vanessa bought a house for $268,500. She has a 30 year mortgage with a fixed rate of 6.25%. Vanessaâs monthly payments are $1,59
    11·1 answer
  • Winter Company has no beginning and ending inventories, and reports the following data about its only product: Direct materials
    11·2 answers
  • Timothy, a cashier, is given a twenty-dollar bill at his store. He is suspicious of the customer and wants to make sure the curr
    10·2 answers
  • In May direct labor was 40% of conversion cost. If the manufacturing overhead for the month was $120,600 and the direct material
    9·1 answer
  • Pro forma balance sheet Peabody &amp; Peabody has 2019 sales of $10 million. It wishes to analyze expected performance and finan
    9·1 answer
  • What percentage tariff increase has NERSA granted eskom for the financial period of 2016/2017
    13·1 answer
  • Complete this analogy: The computer is to hardware as a productivity program is to _____.
    5·1 answer
  • Free cash flow is chegg
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!