An organization that consists of many layers of management is referred to as a(n) ___________

Kareem bought a rental house in March 2014 for $300,000, of which $50,000 is allocated to the land and $250,000 to the building.

Bingel [31]

Answer: See explanation

Explanation:

a. What is Kareem's realized gain or loss?

Amount realized from sale = $330,000

Less: adjusted basis for house and land = $269000

Less: tennis court adjusted basis = $6200

Realized gain = $54700

b. What is the adjusted basis of the rental house and land at the time of the sale?

Original land basis = $50000

Add: Original house basis = $25000

Less: Depreciation = $30900

Adjusted basis = $269100

c. What is the adjusted basis of the tennis court at the time of the sale?

Tennis court original basis = $7500

Less: Depreciation = $1300

Adjusted basis of the tennis court = $6200

d. If the buyer takes the property subject to the $80,000 mortgage, rather than assuming it, what is Kareem's realized gain or loss?

Amount realized = $330000 + $80000 = $410,000

Less: Adjusted basis for house and land = $269100

Less: Adjusted basis of tennis court = $6200

Realized gain = $134700

3 0

3 years ago

Why do people care about their social status?

Elza [17]

Answer:

because they could be very popular

Explanation:

can you give brainliest

7 0

3 years ago

In the long run, once people have had time to adjust their long-term commitments, an increase insupply and a higher price level

Arte-miy333 [17]

Answer:

Product prices will be increased by resource price. A further explanation is given below.

Explanation:

When individuals have already had time, throughout the longer term, to change certain long-term obligations. A rise in population, as well as a higher level of costs, can no doubt mean an increase in the amount generated. Throughout the long term, the powers causing the rise in the sum usually provided mostly in the shorter term would not be available.
When the long-term current expires and has been tried to negotiate, expenditures that are already temporarily set as a part of the contractual deal will increase. If this continues, the resource price could well raise the price of additional goods, which should not modify the desire to manufacture.

4 0

3 years ago

The process of a business or organization attempting to acquire goods or services to accomplish the goals of its enterprise is c

CaHeK987 [17]

The process of a business or organization attempting to acquire goods or services to accomplish the goals of its enterprise is called purchasing

What is the purchasing means?

Purchasing is the organized acquisition of goods and services on behalf of the buying entity. Purchasing activities are needed to ensure that needed items are obtained in a timely manner and at a reasonable cost.

What are the 3 types of purchasing?

There are three main types of procurement activities: direct procurement, indirect procurement, and services procurement

Why is purchasing important?

Purchasing is generally responsible for spending more than 50 percent of all the revenues the firm receives as income from sales. More money is often spent for purchases of materials and services than for any other expense, and the spend in services is rapidly increasing.

Learn more about purchasing:

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5 0

2 years ago

Wally and Sally want to go into business together and plan on offering a tutoring service to high school and college students. W

Alex

Answer:

A. While there is no understanding in the trade, all the accomplices to the trade are by and by obligated for any of the obligations that emerges during the direct of such trade.

In the specified scenario Wally revealed to Sally that since they share controller of the trade and split profits similarly, they won't have any close to home risk for obligations isn't reasonable as once the assets of industry are short to remuneration the obligations of the industry then the sequestered possessions of the assistants can be connected without any substantial understanding.

B. The case made by the Wally that shaping a Corporation will bring about twofold tax collection isn't legitimate as when the pay is burdened during the calculations of benefit for partnership then such salary isn't available to different investors.

C. Wally and Sally can go into an understanding and make a Sequestered Business or the organization constrained by the offers or Limited Liability association which will help them in maintaining a strategic distance from the twofold tax collection just as connection of individual resources if there should arise an occurrence of deficient assets in the business.

7 0

3 years ago

An organization that consists of many layers of management is referred to as a(n) ____________ organization.