Answer:
- Melba's adjusted basis for the land at the Acquisition date is $625000
- Melba's adjusted basis for the land one year later is $645000
Explanation:
The adjusted basis for a property/land is the net cost of the property after adjusting for factors that might attract tax as related to the land
The adjusted basis for the land at the acquisition date is the net cost of the land at the acquisition date which will be ( $225000 + $400000 ) because that was the net cost of the Land at the date of acquisition before an agreement was later reached by Melba requiring him to pay $400000 plus an interest of 5%
Hence the adjusted basis for the land one year later will be
= ( $225000 + $400000 ) + 5% of $400000
= ( $625000 ) + $20000
= $645000
Answer:
a. Events that will affect the income statement are :
- Part c
- Part d
b. Income statement that shows the results of Year 1 operations.
Revenue Earned $59,000
Less Expenses :
Expenses ($43,000)
Net Income / (Loss) $16,000
Explanation:
The Income Statement shows the Profit or Loss that resulted during the reporting period.
Only items of Revenue/Income and Revenue Expenditures (Expenses) are accounted for in Income Statement.
Profit or Loss = Sales <em>less</em> Expenses
Answer:
A personal skill is something that you have learned or aquired over your time of working or something you're specifically good at.
Explanation:
Hope this helps :))
A. captive-product pricing
Gillette charges a fairly low price for their razors (relative to costs) and a high price for razor blades. they are using a strategy of __________ pricing.
In pouches duh silly goose lol