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fredd [130]
3 years ago
12

In 2017, Blake purchased a new home. In addition to the purchase price of $200,000, he paid $700 in legal fees and $2,000 in rec

ording costs. In 2019, he added a deck at a cost of $5,000. Blake's basis in his home is:
Business
1 answer:
slavikrds [6]3 years ago
5 0

Answer:

$207,700

Explanation:

Blake's basis in his home in 2017 = purchase price + legal and administrative fees = $200,000 + ($700 + $2,000) = $202,700

Since the deck that Blake added to his home is considered an improvement that is permanent and increases the home's value, it will also increase the home's basis = $202,700 + $5,000 = $207,700

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Relevant costs for target costing include:
Firdavs [7]

Answer:

Correct answer is D. All future costs, both variable and fixed

Explanation:

In target costing, all future costs both variable and fixed costs are relevant. This is for us to clearly determine the desired profit that the company wants to attain. The process of costing is to determine all future costs that the company will possibly incur in the production and add it to the desired profit margin to know the unit sales price of the product.

5 0
3 years ago
Empirical studies of returns earned by mutual funds suggest they consistently outperform the market.True or False?
VMariaS [17]

Answer:

False

Explanation:

Studies of mutual fund performance indicate that mutual funds that outperformed the market in one time period usually do not beat the market in the next time period.

7 0
3 years ago
Molly and jason were married. their only "dependent" was spot, their black standard poodle. jason died in 2011. assuming she doe
STALIN [3.7K]
I believe The only legal filing status for Molly will be a qualifying widow.
Hope this helps !
3 0
2 years ago
Your grandfather has offered you a choice of one of the three following alternatives: $8,500 now; $3,000 a year for five years;
Mila [183]

Answer:

Check the explanation

Explanation:

a1.Present value of $8500=$8500

the Present value of $3000 a year for 5 years=$3000*Present value of annuity factor(9%,5)

the Present value of annuity=Annuity[1-(1+interest rate)^-time period]/rate

=$3000[1-(1.09)^-5]/0.09

=$3000*3.889651263

=$11668.95(Approx)

The Present value of $41000=$41000*Present value of discounting factor(rate%,time period)

=$41000/1.09^5

=$26647.19(Approx).

Therefore  $41,000 received at end of five years is a better value.

3 0
3 years ago
On January​ 1, 2017, the Accounts Receivable of Martha Company had a debit balance of​ $190,000. During​ January, the company pr
kupik [55]

Answer:

End of January​, 2017    

Dr Accounts Receivable  $350,000  

Explanation:

  • On January​ 1, 2017  

Dr Accounts Receivable $190,000  

  • During​ January  

Dr Accounts Receivable $400,000  

Cr Sales                           $400,000  

  • During​ January  

Dr Cash                            $240,000  

Cr Accounts Receivable $240,000  

  • End of January​, 2017  

Dr Accounts Receivable    $350,000  

3 0
3 years ago
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