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Lostsunrise [7]
3 years ago
11

Luke sold a building and the land on which the building sits to his wholly owned corporation, Studemont Corp., at fair market va

lue. The fair market value of the building was determined to be $362,500; Luke built the building several years ago at a cost of $310,000. Luke had claimed $81,000 of depreciation expense on the building. The fair market value of the land was determined to be $252,000 at the time of the sale; Luke purchased the land many years ago for $194,250. Problem 11-46 Part-a a. What is the amount and character of Luke’s recognized gain or loss on the building?
Business
1 answer:
seropon [69]3 years ago
6 0

Answer:

The amount and character of Luke’s recognized gain or loss on the building is $133,500.

Explanation:

The amount and character of Luke's recognized gain or loss on the building

= ($362,500 - $310,000) + $81,000  

= $133,500

Therefore, The amount and character of Luke’s recognized gain or loss on the building is $133,500.

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When a negotiable instrument is transferred, the transferor warrants all of the following EXCEPT:_______
egoroff_w [7]

Answer:

The answer is "that, the transferee is also an instrument holder only in the precise way".

Explanation:

In the given question the correct choice was missing. so, the correct choice can be defined as follows:

This is a signed contract guaranteeing a monthly payment to just the individual or consumer in question like,  Inspections, money orders, and promissory notes are typical examples of negotiable instruments, in which its holder is the instrument only for the transferor, and the wrong choice can be defined as follows:

  • In choice a, it is incorrect because not all signatures were authentic.  
  • In choice b, it is incorrect because the issuer is solvent as far as she does not know.
  • In choice c, it is wrong because the system was changed.
4 0
3 years ago
Evie wants her sister's cell phone. Her sister wants Evie's television. They come to an agreement that they will exchange these
Kryger [21]

An economist would BEST describe the scenario as : Barter system

<h3>What is a Barter system?</h3>

Barter system is when commodities are exchanged against commodities. It is an act of trading goods or services between two or more parties without the use of money.

This type of trading system is an old method of exchange practised for centuries and long before money was introduced.

Examples of barter system are :

  • Mangoes are exchanged for bananas.
  • Salt is exchanged for onion.
  • Shoes are exchanged for clothes.

Therefore, an economist would BEST describe the above scenario as barter system because both Evie and her sister exchanged their items of value between themselves.

Learn more about barter system here : https://brainly.in/question/1821688

5 0
3 years ago
The effect of the internet has been to increase a company's bargaining power vis-à-vis its suppliers
Mariana [72]
The answer is a.

It is true that the effect of the Internet has been to increase a company's bargaining power vis-à-vis its suppliers. Internet<span> services increase the bargaining power a company by helping to find better offers in an easier way and gather the required information to develop much better strategies.</span>
4 0
4 years ago
Read 2 more answers
The _____ is an agency of the federal government that offers both managerial and financial assistance to small businesses.
Reil [10]

Answer:

D. Small Business Administration.

Explanation:

The Small Business Administration (SBA) is an agency of the federal government that offers both managerial and financial assistance to small businesses. SBA was established in 1953 as an autonomous or independent agency of the government of the United States of America. Generally, it is saddled with the responsibility of providing both managerial and financial assistance and counseling to small businesses in order to bolster the American economy.

The small business administration (SBA) serves as an intermediary between entrepreneurs and investors or creditors, in order to provide them with the necessary funds required to plan, start and grow their business.

<em>Basically, SBA provides services such as entrepreneurial development, access to funds, advocacy and contracting to small businesses (entrepreneurs) in the United States of America. </em>

5 0
3 years ago
Match each interest inventory assessment with its correct description.
worty [1.4K]
1. Strong Interest Inventory ⇒ <span>2. measures career and leisure interests, organizing them into four main areas </span>

2. Kuder Occupational Interest Survey ⇒4. measures personal work interests in ten broad areas

3. Self-Directed Search⇒ <span>3. classifies people according to six different types to help match interests with a career choice</span>

4. Campbell Interest and Skill Survey⇒1. rates people on seven orientation scales 
8 0
3 years ago
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