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
Naya [18.7K]
3 years ago
14

Shawn exchanges a factory building for an apartment building in a qualifying like-kind exchange. The factory has a basis of $350

,000 and the apartment building has a fair market value of $320,000.a. What is Shawn’s realized gain or loss and the basis of the apartment building?b. What alternative could you suggest to Shawn?
Business
1 answer:
Setler [38]3 years ago
6 0

Answer:

a.$30,000

b.The alternative i could suggest to Shawn is that he may sell the factory building instead of him to purchase the apartment building in order for him to recognize the loss which will inturn lower his taxes.

Explanation:

a. Calculation of what is Shawn’s realized gain or loss and the basis of the apartment building

Since Shawn tend to received the apartment building which has a Fair Market Value of $320,000 in exchange of his $350,000 worth of factory , this means he had a lost of $30,000 which is calculated as ($320,000-$350,000) which can therefore be deferred

b. The alternative i could suggest to Shawn is that he may sell the factory building instead of him to purchase the apartment building in order for him to recognize the loss which will inturn lower his taxes.

You might be interested in
n 2010, Tara used $50,000 from funds she had invested in certificates of deposit as a down payment to buy a house. What function
yuradex [85]

Answer:

Medium of Exchange

Explanation:

A certificate of deposit represents a legal document issued by a commercial or economic institution such as a bank as evidence of a sum of money deposited by the individual for a particular period and with a specified rate of interest.

A Medium of Exchange, on the other hand, represents an intermediary system or instrument that can be used to make sales, purchases and facilitate the trade of goods or services between various parties. To qualify as a medium of exchange, the instrument should have a standard face value and must be acceptable to all parties.

Since Tara was able to put down $50,000 as represented on the Certificates of deposit, it becomes a medium of exchange, because it has a standard face value (as determined by the bank) and it is acceptable both by Tara and the estate from which Tara is purchasing the house.

3 0
4 years ago
An economic system is a structure for
Dominik [7]
It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community. As such, an economic system is a type of social system....
7 0
3 years ago
Over the next three years, the expected path of 1-year interest rates is 4, 1, and 1 percent. The expectations theory of the ter
Artist 52 [7]

Answer:

B) 2 percent.

Explanation:

to calculate the expected interest rates we just add the forward rates: 4 + 1 + 1 = 6, and then divide by 3 (the number of forward rates, not the number of years): 6 / 3 = 2

The expectations theory of the term structure states that investors will predict the value of future short term interest rates using the values of current forward rates.

7 0
3 years ago
Which of the following is the correct term to
tatuchka [14]
I believe the answer is B. policies
8 0
3 years ago
Read 2 more answers
The largest percentage of federal law enforcement officers perform what function?
MatroZZZ [7]
<span>The large percentage of federal law enforcement officers that is nearly 40% performs criminal investigation and enforcement duties. This huge number of officers prosecutes the country’s crime and help control the law and order status in the country. This help in reducing the crime rate in the country.</span>
4 0
3 years ago
Other questions:
  • At​ UPS, business was strong but profits were​ down, leading managers to look for ways to increase profits from existing operati
    10·1 answer
  • Which of the following would appear in the debits column of a bank statement for a checking account?
    11·1 answer
  • If you want to refine your google search results by date, which option should you use? 1. Advanced search 2.safe search 3.news s
    8·2 answers
  • EA7.
    14·1 answer
  • When a country's exports are worth more than its imports, is has a:
    11·1 answer
  • Fernando's favorable attitude toward capital punishment began to change when he wasasked to offer arguments opposing it in a cla
    6·1 answer
  • On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $57,000. Alan made the appropriate year-end
    9·1 answer
  • business ethics chapter 7 one of the ways in which multinational corporations lower their expenses is by shipping work to countr
    6·1 answer
  • Using the allowance method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $7,500
    10·1 answer
  • Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $158,000 Credit sale
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!