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
aliya0001 [1]
3 years ago
8

Bud exchanges land with an adjusted basis of $22,000 and a fair market value of $30,000 for another parcel of land with a fair m

arket value of $28,000 and $2,000 cash. What is Bud's recognized gain or loss?
Business
1 answer:
DanielleElmas [232]3 years ago
4 0

Answer:

The recognized gain or loss of Bud is $2,000

Explanation:

The aggregate market value is computed as:

Aggregate market value = Fair market value + Cash

= $28,000 + $2,000

= $30,000

The recognized loss or gain of Bud is computed as:

Recognized gain or loss = Aggregate market value - Fair market value

= $30,000 - $28,000

= $2,000

So, it is a gain of $2,000

You might be interested in
The following data are available for Allen Clapp Corporation. Net Income $200,000 Depreciation Expense 40,000 Dividends paid 60,
scoray [572]

Answer:

The net cash provided by operating activities is calculated $220,000

Explanation:

Net income       $200,000

Depreciation Expense $40,000

Gain on sale of Land   ($10,000)

A/R-Decrease                20,000

A/P-Decrease               ($30,000)

Net cash from operating activities $220,000

4 0
3 years ago
In which of the following situations is having a good credit score important?
Nezavi [6.7K]
A because if you bought a car you would have good credit score

hope this helped
7 0
3 years ago
On January 1, 2017, Ann Price loaned $187,825 to Joe Kiger. A zero-interest-bearing note (face amount, $250,000) was exchanged s
SVEN [57.7K]

Answer:

Option D is correct.

<u>Interest expense in 2017= $18,783</u>

Explanation:

Interest expense in 2017 = 187825*10% = $18782.5( Approx $18,783)  

5 0
3 years ago
List two reasons why someone looking at a career in the Energy cluster might want to focus on new technology, such as energy-eff
-BARSIC- [3]

Answer:

Following are the two reasons for why someone looking at a career in the Energy cluster might want to focus on new technology, such as energy-efficient products or sustainable energy;

  1. Energy efficient technologies are now found in most energy conversion chains. For example from production of primary energy resources to power generations.
  2. Technology helps to improve the conversion of energy better. For example the conversion of wasted energy released in the form of heat.

Following are the two examples of careers that may work with these new energy technologies;

  1. A career in renewable energies which use high end technologies.
  2. A career in generating energy from natural resources like the solar energy from the sun.
7 0
4 years ago
Economic surplus is maximized in a competitive market when.
wlad13 [49]

Answer:

the price equals the market equilibrium price

8 0
3 years ago
Other questions:
  • Websites with salary data are very accurate at giving the market rate of most jobs.
    10·1 answer
  • Which of the command systems would be the most appropriate when there are six victims at a mvc?
    8·1 answer
  • The Sisyphean Company has a bond outstanding with a face value of $ 5 comma 000 that reaches maturity in 8 years. The bond certi
    5·1 answer
  • 1. The oversupply of hospitals and in-patient beds in the U.S. produced by the Hill-Burton legislation is the result of: A. The
    9·1 answer
  • Read the following scenario and select the appropriate shifter of demand (what is going to shift the curve) It becomes known tha
    14·1 answer
  • Malcolm is a professional writer. He has already published many best-sellers. One of his friends expressed interest in knowing m
    8·1 answer
  • You receive results from the team engagement survey. According to the survey, your team members feel that the feedback they prov
    10·1 answer
  • Explain why studying economics is important. What are some consequences of bad economic thinking by governments, businesses, and
    5·1 answer
  • Is it more common for a firm to fail due to lack of sales or poor financial management? multiple choice question.
    12·1 answer
  • While we covered mergers and acquisitions in this unit, let’s turn our focus to strategic alliances. what are the three types of
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!