Answer:
The correct answer here is $2000.
Explanation:
Given information -
Original value of asset - $28,000
Fair market value - $35,000
Equipment received in exchange of transaction - $2000
For taking out the Arlington's gain or loss on the exchange we will select the lesser of the f\given two, which are fair market value of equipment which is $2000 and other one is gain recognized by - $35,000 + $2000 - $28,0000 = $9000, so the lesser of the two is $2000.
With respect to the six stages of a quality life cycle, the implementation stage of a new quality initiative is called adoption.
What is life cycle?
The term life cycle refers to the life are the passes on the different stages such as baby, kids, children, teenager, adult, young, and the last is the old there are the different phases of the life.
There are the six stages of the quality life cycle are the adoption, regeneration, energizing, maturation, limitation, or stagnation and decline. The adoption is the implementation stage of a new quality initiative.
As a result, the quality life cycle is the adoption.
Learn more about on life cycle, here:
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Answer:
Cost basis= $29,150
Explanation:
Cost basis refers to the initial purchase price of an asset that is used for tax purposes. It is the initial amount invested in an asset in addition to any commission's or fees.
Capital gains is the difference between the sale price and the the cost basis of an asset.
Tracking cost basis is necessary for determining the success of an investment and also for tax purposes.
We will sum the following to get the cost basis
Purchase price= $24,500
Shipping cost= $650
Paint= $1,000
Sales tax= $3,000
Cost basis= 24,500+ 650+ 1,000+ 3,000
Cost basis= $29,150
To put it simply, they have to develop a product that make people want to pay to acquire it.
Sellable product usually either :
- able to make people happy ( such as movies, music, Delicious food, etc) or
- Able to make people's life become easier ( such as Gadgets, consultation service, etc)
Answer: $1400
Explanation:
The amount of gross income that Heather must report will be the addition of the interest on the US government bonds, the interest on the federal income tax refund and the gain on the sale of Madison company school bonds. This will be:
= $700 + $200 + $500
= $1400
Therefore, Heather must report gross income in the amount of $1400. The correct option is D.
