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
nikklg [1K]
3 years ago
15

Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for $125,000. The

appraised fair market value of the warehouse was $75,000, and the appraised value of the land was $100,000. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)
Business
1 answer:
Sonbull [250]3 years ago
7 0

Answer:

What is Bob’s basis in the warehouse and in the land?

  • warehouse basis = $53,571
  • land basis = $71,429

Explanation:

since the total appraisal value was $75,000 + $100,000 = $175,000, we must allocate the basis using a coefficient = $125,000 / $175,000 = 0.714285

  • warehouse basis = appraised value x coefficient = $75,000 x 0.714285 = $53,571
  • land basis = appraised value x coefficient = $100,000 x 0.714285 = $71,429
  • total = $53,571 + $71,429 = $125,000 (total purchase price)

Since the transaction price was lower than the appraised value, we must adjust the basis for both the land and the warehouse in the same proportion.

You might be interested in
What is the term for the process of​ creating, communicating, and delivering value to customers while managing customer relation
WITCHER [35]
Marketing refers to<span> the process of​ creating, communicating, and delivering value to customers while managing customer relationships in ways that benefit the organization and its​ stakeholders.

Marketing is a huge part of a company, they are the people who make sure items are in the face of the right consumer, at the right time and, at the right price point. By creating value within the brand the marketing team helps drive sales, turn profit and gain new consumers. </span>
8 0
3 years ago
Ophelia, the new CEO at Odyssey Inc., plans to implement a highly effective systematic process of regulating organizational acti
Oxana [17]

Answer:

Organizational Control

Explanation:

When the person or individual who plans to execute a highly effective process for regulating the activities of the organization in order to make them inconsistent with the expectations which is created by the mangers of the company will be known as the organizational control.

It is establish to accomplish the goals and objective of the company by the process of regulating, assigning and evaluating the resources.

7 0
3 years ago
Suppose the cost of flying a 200-seat plane for an airline is $100,000 and there are 10 empty seats on a flight. If the marginal
cluponka [151]

Answer:

a. sell the ticket because the marginal benefit exceeds the marginal cost.

Explanation:

Marginal cost is the cost incurred for an additional unit and Marginal benefit is the amount f benefit received from an additional unit. Net marginal benefit is calculated by deducting marginal cost from marginal benefit.

The company should sell the seats when there s net marginal benefit. In this question the data is given as follow

Marginal cost of each seat = $200

Marginal benefit of each seat = $300

As the net marginal benefit is $100 ($300-$200), so they should sell the tickets.

7 0
3 years ago
Which of these is a sign that you’re dealing with someone engaged and unfair lending
mr_godi [17]

Answer:

One of the biggest warning signs of predatory lending is high, three-digit interest rates. For example, rates of 400% APR are typical on payday loans and car title loans. However, some lawmakers seek to cap interest rates at 36% to keep loans affordable for borrowers.

6 0
2 years ago
When sending a recruiter a cold cover letter, what information should be included in the letter?
Lena [83]

A recruiter is a person who works for the employer who we can say is the client.

Recruiters specialize in placing certain job categories for example if it is a job of an accountant or an engineer.Recruiters are hired by employers to recruit job seekers for certain categories and present the person who matches the job criteria. A candidate sends a cover letter to a recruiter to make him or her understand what you are qualified, what you can do and job criteria you can fulfil so that you can be presented to the employer.

When sending a recruiter cold cover letter some of the information which is included is

(i)                   Opening- It tells why you need a new job and what you currently do for the living

(ii)                Body- You tell the background and how your skills will help and accomplishment can benefit the employer.

(iii)               Closing- you list kinds of industries you are working for, expectations, the amount of salary you want, and when you can start the job.

6 0
2 years ago
Read 2 more answers
Other questions:
  • Superior Micro Products uses the FIFO method in its process costing system. Data for the Assembly Department for May appear belo
    10·1 answer
  • In 2013, Emma purchased an automobile, which she uses for both business and personal purposes. Although Emma does not keep recor
    5·1 answer
  • The concept of utility is fundamental to utilitarianism and describes the a. optimal distribution of wealth in society. b. level
    7·1 answer
  • An increase in the expected rate of inflation will:______a. the real rate of interest.b. the nominal rate of interest.c. both th
    12·1 answer
  • Sanitizing a surface is defined as the process of
    14·1 answer
  • Sean relocated to take a new job, and when he got sick he needed to find a doctor. He discovered during the visit that he didn't
    13·1 answer
  • Why are products made in Third World Countries cheaper than goods made in the US?
    11·1 answer
  • The intermediate goods are not counted in the calculation of GDP, because: * 2 points A. that involves double-counting. B. these
    7·1 answer
  • How does a 12 year old dunk a Nba Basketball goal
    6·2 answers
  • The difference between accounting profit and economic profit is.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!