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
Mumz [18]
4 years ago
14

Cassie owns equipment ($45,000 basis and $30,000 FMV) and a building ($152,000 basis and 5)$158,000 FMV), which are used in Cass

ie's business. Both assets were acquired two years ago. Theequipment and the building are destroyed in a fire, and Cassie collects insurance proceeds equal tothe assets' FMV. The tax result to Cassie for this transaction is a
Business
1 answer:
aleksley [76]4 years ago
8 0

Answer:

Ordinary loss $15,000

Ordinary gain $6,000

Explanation:

Ordinary loss = $45,000-$30,000

= $15,000

Ordinary gain =$158,000-$152,000

= $6,000

Therefore the tax result to Cassie for this transaction is Ordinary loss of $15,000 and Ordinary gain of $6,000.

You might be interested in
An insurance agent’s files reveal the following facts about his policyholders: i) 243 own auto insurance. ii) 207 own homeowner
dybincka [34]

Answer: 407

Explanation:

Given the following :

Auto insurance (A) = 243

Homeowners insurance (H) = 207

Life insurance (L) =?

LnH = 55

AnH = 96

AnLnH = 32

total number of the agent’s policyholders who own at least one of these three insurance products = 407

5 0
4 years ago
on february 1, the company determined that $7,200 in customer accounts was uncollectible; specifically, $1,100 for oakley compan
Colt1911 [192]

1100 is Accounts Receivable for the company determined that $7,200 in customer accounts was uncollectible; specifically, $1,100 for oakley company and $6,100 for brookes company.

Feb 1 Allowance for Doubtful Accounts  7200  

        Accounts Receivable - Oakley    1100

        Accounts Receivable - Brookes   6100

Jun5     Accounts Receivable - Oakley          1100  

        Allowance for Doubtful Accounts          1100

     

Jun 5 Cash  1100  

  Accounts Receivable - Oakley    1100

Accounts receivable (AR) is the remaining amount owed to a business for goods or services that have been delivered or consumed but have company not yet accounts receivable been paid for by clients. The balance sheet classifies accounts receivable as a current asset. Customers' unpaid debt for goods they made with credit is referred to as AR.

The term "accounts receivable" refers to any unpaid bills or cash that a business is owed by customers. The word refers to accounts that a accounts receivable company is entitled to get as a result of delivering a good or service. Accounts receivable, also known as receivables, are a company type of line of credit that a business extends to its customers, and its terms typically call for payments to be made within a short time frame.

Learn more about accounts receivable here

brainly.com/question/24261944

#SPJ4

3 0
1 year ago
The ________ assumes responsibility for monitoring how the contractor is doing in terms of cost, schedule, and technical perform
JulijaS [17]
<span>Business/Financial manager </span>assumes responsibility for monitoring how the contractor is doing in terms of cost, schedule, and technical performance
Before a company start its operation for the year, the executives of that company will determine the budget that seem appropriate for all fo the operations.
The duty of business/financial manager is to make sure that the cost of operations do not exceed that pre-determined budget
5 0
3 years ago
Schwer, Inc. issued $500,000 of 10%, 15-year bonds at 95 on July 1, 2012. Interest is payable semiannually on December 31 and Ju
GalinKa [24]

Answer: The answer is - A

Explanation:

A

1) RETIRED 500 000 *102= 510 000 (PREM)

2) 500 000 *95=$475 000 MARKET PRICE (DISCOUNT)

3)475 000-510 000= 35 000 LOSS

35000 -6000=$29 000 LOSS

5 0
3 years ago
Ebrima Kanteh works as a supervisor for an engineering company in Riyadh, Saudi Arabia. In the UK he had a reputation for speaki
ycow [4]

Answer:

He should try to analyze and understand how Saudi workers view the role of a leader and teamwork. Cultural differences between Saudi Arabia and the UK are huge, the only similarity is that both are monarchies, but British monarchy stepped aside and doesn't rule anymore. While Saudi monarchy rules with an iron fist.

Some behavior or actions that are considered completely out of place or might even be illegal in the UK are totally normal in Saudi Arabia, and vice versa. I met someone that used to work in the middle east and he remembers that subordinates have a great respect for their leaders and do not question anything. But at the same time, normal motivation techniques didn't work with them. I remember he told me that in order to be able to make his team work he had to be rude with them and basically order them what to do and make sure they did it. This behavior would be unacceptable in western countries, bosses do not yell at employees all the time, but it worked for him there.

It wasn't the same country, but in order to work properly he had to overcome several cultural barriers and adopt several local customs. By the way, his subordinates were happy with him. No one ever confronted him and told him not to yell at people, since that is normal for them.

Ebrima will need to treat his British subordinates one way, and his Saudi subordinates another way. He should also talk to his fellow British employees and explain them why he is acting that way. If he doesn't, some of them might think he is abusing his authority. When my friend told about his experience I also thought he had become a really bad boss, but them he explained things to me in greater detail.

6 0
3 years ago
Other questions:
  • Jenna composes an email from home to her boss to inform him that she will be late getting to work that day. The act of composing
    13·2 answers
  • Which one of the following transactions would be included in GDP? a. Ava pays $50 for a used picture frame at a neighborhood gar
    10·1 answer
  • The actual monthly payment for a 36 month loan is _______________.
    5·2 answers
  • Mr Store who runs his photocopy business working 8 hours per day process 100 scripts. He estimates his labour cost to be € 9 per
    8·1 answer
  • Suppose Charlene Brewster has timesâ (in seconds) of 8.5â, 8.5â, 8.3â, 8.6â, 8.7â, 8.4 and a performance rating of 85â%.
    12·1 answer
  • As the manager of a high volume​ bank, you are faced daily with customers who are in a hurry and need decidedly speedy service f
    9·1 answer
  • What is the relationship between price and the quantity of gasoline demanded
    15·1 answer
  • Floyd and Gert enter into a contract by which Floyd promises to deliver fertilizer to Gert. Floyd subsequently transfers this du
    10·1 answer
  • Antelope Motors is considering which inventory costing method it should use. The business wants to maximize gross profits during
    5·1 answer
  • Steel mill inc. Makes steel forms of substandard quality. Tower building company has never bought or used a steel mill form, but
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!