Answer:
$24,000
Explanation:
The computation of the adjusted basis in the land after the exchange is shown below:
= Adjusted basis at the time of exchange + additional amount given
= $20,000 + $4,000
= $24,000
We simply added the Adjusted basis at the time of exchange and the additional amount so that the accurate value can come.
And the other information which is given in the question is not relevant. Hence, ignored it
Answer:
21.26%
Explanation:
Overall rate of return = Total amount of dollar returns / Total investment
Overall rate of return = [($18,000 * 26%) + ($22,000 * 15%) + ($70,000 * 22%)] / $110,000
Overall rate of return = ($4680 + $3300 + $15400) / $110,000
Overall rate of return = $23,380 / $110,000
Overall rate of return = 0.21255
Overall rate of return = 21.26%
Answer:
A. the computers are identified to the contract.
Explanation:
The buyer has the right to recover all the goods when the seller suddenly becomes insolvent. Also where the buyer wishes to receive all the goods and also a substantial prepayment is already made and then the buyer finds out the seller has become insolvent.
Under the UCC Section 2-502, it allows the buyer to recover all the goods if the below conditions are met:
- the goods or the items must be identified to the contract
- if the buyer had paid a part of the purchase price or have made full payment
- if the buyer is willing to pay if any balance due
- after the first installment, the seller must become insolvent.
Therefore, in the context, Legal Services can recover all the computers if the computers are identified to the contract.
Answer:
Banks are owned by shareholders, while credit unions are owned by members
Explanation:
Banks are financial institutions established by the founders to make profits. Due to their capital requirements, banks are large corporations owned by the private sector or government. Like other corporations, the owners of a bank are its shareholders.
Large organizations form credit unions to cater to their employees well being. Credit unions are not for profit organizations since they are formed to cater to its members' well beings. It means membership to the credit union is limited to the founding organization's employees unless otherwise stated. The members of the credit unions are its owners.
