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gogolik [260]
2 years ago
5

Alicia sold her personal residence to Rick on June 30 for $295,000. Before the sale, Alicia paid the real estate tax of $4,425 f

or the calendar year. For income tax purposes, the deduction is apportioned as follows: $885 to Alicia and $3,540 to Rick. What is Rick's basis in the residence?
Business
1 answer:
schepotkina [342]2 years ago
7 0

Answer:

$291,460

Explanation:

Data provided in the question:

Purchasing cost of the personal residence = $295,000

Real estate tax paid by Alice before the sale  = $4,425

Property tax allocated to Alicia = $885

Property tax allocated to Rick = $3,540

Now,

Rick's basis in the residence will be

= Purchase cost - Property taxes allocated to Rick

= $295,000 - $3,540

= $291,460

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A privately owned summer camp for youngsters has the following data for a 12-week session: Charge per camper Fixed costs Variabl
shtirl [24]

Answer:

Results are below.

Explanation:

Giving the following information:

Fixed costs= $192,000

Unitary variable cost= $320 per week

Selling price per unit= $480 per week

<u>To calculate the total cost, we need to use the following formula:</u>

Total cost= fixed costs + unitary variable cost*number of units

Total cost= 192,000 + 320*number of weeks

<u>Now, the total revenue:</u>

Total revenue= selling price per week*Number of weeks

Total revenue= 480*x

<u>Finally, the break-even point in units:</u>

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 192,000 / (480 - 320)

Break-even point in units= 1,200 campers

3 0
2 years ago
Jennifer is marketing manager for a major consumer goods firm. She is interested in determining if market opportunity exists for
Andrei [34K]

Answer:

- How to best segment the ready-made dinner market.

4 0
3 years ago
December 31 Total assets Total liabilities
Neporo4naja [7]

Answer:

Net Income or Loss : a. 2019 = $53000  ; b. 2020 = $4000 loss ; c. 2021 = $43000

Explanation:

Assets - Liabilities = Capital  (Closing/Opening)

458000 - 317000 = 141000 (2019 Closing Capital)

Profit = Closing Capital - Opening Capital + Drawings - Additional Capital

A.  2019 Opening Capital = 100000 (Given)

2019 Closing Capital = A - L = 458000 - 317000 = 141000

2019 Profit = CC - OC - D + AC = 141000 - 100000 + 12000 =  53000

B. 2020 opening capital = 2019 Closing Capital = 141000

2020 closing capital = A - L = 538000 - 367000 = 171000

2020 Profit =  CC - OC + D - AC = 171000 - 141000 - 34000 = 4000 Loss

C. 2021 opening capital = 2020 closing capital = 171000

2021 closing capital = A - L = 668000 - 467000 = 201000

2021 Profit = CC - OC + D - AC = 201000 - 171000 + 25000 - 12000 = 43000

6 0
3 years ago
Which neighborhood quality of life issue is most affected by the overuse of alcohol?
WITCHER [35]

Neighborhood quality of life issue is most affected by the overuse of alcohol unemployment, poverty, poor family integration, and high residential mobility are known to contribute to a greater risk of alcohol problems.

Alcohol interferes with the mind's conversation pathways and might affect the manner the brain seems and works. those disruptions can trade mood and conduct, and make it harder to assume virtually and circulate with coordination.

Alcohol has massive poisonous consequences on the digestive- and cardiovascular structures. Alcoholic drinks are classified as carcinogenic by the global organization for research on most cancers and boom the threat of several cancer types.

To lessen the chance of damage from alcohol-associated sickness or harm, healthy men and women should drink no more than 10 general liquids every week and no extra than 4 standard liquids on any person's day.

Learn more about alcohol here:

brainly.com/question/947751

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6 0
2 years ago
When the government of any country restricts the sale of a particular commodity to certain groups — for example, restricting sal
Alla [95]

Answer:

qualified available

Explanation:

Qualified available Market refers to the situation when only customers with specific criteria are able to make a purchase. In most cases, those criteria revolved around age, gender, or group membership.

Alcochol is an example of qualified available market because it created a situation which only allow consumers older than 21 to make a purchase.

Other example would be Waxing salon.  Large portion of waxing salons only allow female customers to purchase their service (since the workers are also females and feel uncomfortable to give their service to male customers.)

8 0
3 years ago
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