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Mumz [18]
3 years ago
15

Kelly inherits land that had a basis to the decedent of $95,000 and a fair market value of $50,000 on August 4, 2019, the date o

f the decedent's death. The executor distributes the land to Kelly on November 12, 2019, at which time the fair market value is $49,000. The fair market value on February 4, 2020, is $45,000. In filing the estate tax return, the executor elects the alternate valuation date. Kelly sells the land on June 10, 2020, for $48,000. What is her recognized gain or loss?
A. ($1,000).
B. ($2,000).
C. ($47,000).
D. $1,000.
E. None of the above.
Business
1 answer:
expeople1 [14]3 years ago
8 0

Answer:

A. ($1,000).

Explanation:

In the question, it is given that the fair market value of the land is $49,000 and the selling value is $48,000. So, in the given situation the selling value of the land is less than the fair market value which reflect the loss of $1,000

The $1,000 is come by subtracting the selling value and the fair market value

All other information is not relevant for the computation part. Hence, ignored it

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Answer:

(i) Base year prices

(ii) between two consecutive years

Explanation:

formula for GDP deflator is (real GDP)/(nominal GDP) x 100 which is the numerator real GDP where prices are valued at the current year adjusted to inflation or deflation and then the denominator where prices are valued at a base year where prices are valued at a nominal year which are not adjusted to any inflation or deflation.

The CPI ( consumer price index) is calculated by determining the rise or fall in price of a good or goods in two consecutive periods which in turn gives us the increase or decrease in price percentage.

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4 years ago
All of the following are positive outcomes of employee development except: Group of answer choices development enhances the orga
Lilit [14]

Answer:

development enhances the organization's capacity to control environmental forces

Explanation:

Employee development can be described as when an employer takes certain certain steps to increase the skills, competences and knowledge of the employees.

Employee development can take the form of :

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Advantages of  employee development includes :

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7 0
3 years ago
Which one of the following would probably benefit the most from personal financial planning services?
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The answer is B)<span> Older persons nearing retirement and needing to know what their income will most likely be during retirement

Option D, would be wrong since without the means to have a financial planning assistant would not really be able to achieve much aside from probably saving some more money.

However, older people who are nearing retirement are probably at the top of their careers and have a lot of savings in cash, bongs, stocks and maybe even property.

It is these kinds of people who can get maximum benefit from proper financial planning.
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4 0
3 years ago
Read 2 more answers
Solaris, Inc. has 2000 shares of 5%, $10 par value, cumulative preferred stock and 50000 shares of $1 par value common stock out
lubasha [3.4K]

The annual dividend on the preferred stock is $1000 in total.

<h3><u>What is an Annual dividend?</u></h3>
  • An annual dividend is a payment made by an insurance firm to its policyholders each year in the insurance sector. Annual dividends are most frequently given out in combination with plans that provide long-term disability insurance and permanent life insurance.
  • A payment made annually to an insurance policyholder, frequently under a long-term disability or permanent life insurance policy, is known as an annual dividend.
  • The insurance company's income, the success of investments, and the amount of money invested all affect the dividend amount.

Annual profits may be paid as cash, used to pay for further insurance, or added to premiums to lower future total payments.

The company has 2000 shares of 5% that is: (2000*5)/100 = 100

with a par value of $10, which becomes:

100*$10 = $1000.

Know more about Annual Dividend with the help of the given link:

brainly.com/question/15871366

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2 years ago
Suppose that the United States has an absolute advantage over Mexico in producing both agricultural and manufactured goods. In t
irina [24]

Given the above scenario, the total production in the U.S. and Mexico will be maximized if Mexico focuses on Agricultural produce and the US on Manufactured produce.

<h3>What is product maximization?</h3>

Product maximization refers to the process via which two trading nationalities or entities focus on the goods where they have the least opportunity cost.

Thus, n this case,  the total production in the U.S. and Mexico will be maximized if Mexico focuses on Agricultural produce and the US on Manufactured produce.

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7 0
2 years ago
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