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pishuonlain [190]
3 years ago
15

Albert purchased a tract of land for $140,000 in 2016 when he heard that a new highway was going to be constructed through the p

roperty and that the land would soon be worth $200,000. Highway engineers surveyed the property and indicated that he would probably get $180,000. The highway project was abandoned in 2019 and the value of the land fell to $100,000. What is the amount of loss Albert can claim in 2019?
Business
1 answer:
Darina [25.2K]3 years ago
8 0

Answer and Explanation:

Albert cannot claim any loss during 2019.

The sale of the property is necessary to claim the loss of depreciation on any type of movable or immovable property. In the following case, Albert is not selling his property due to which he cannot claim any loss, hence Albert's current year's loss claim will be zero.

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Accountant's define and understand Receivables:
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Answer:

The answer is E.

Explanation:

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Accounts receivables is being measured at cash net realizable value.

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The short-run aggregate supply curve shows: a. Changes in output in an economy as the price level changes, holding all other det
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<h3>The short-run aggregate supply curve shows the relationship between the price level and aggregate expenditure </h3>

Explanation:

A short-run aggregate supply curve (SRAS) is a graphical model that shows the positive relationship between aggregate price level and aggregate production amount supplied in an economy. The short-run aggregate supply curve is sloping upward as the supplied quantity increases as the prices increase.

The short-run aggregate supply curve captures the relationship between the actual output and the price level. True production becomes bigger as the price level increases. As the price level decreases, actual production decreases too.

8 0
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Assume an economy is currently engaged in free trade but considering implementing a tariff on its main import, athletic shoes. W
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Answer:

Price - increase

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Import- reduces

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A tariff is a form of tax on import or export.

When a tariff is imposed on a good , the price of the good increases.

As a result of the tariff , the amount of the goods imported falls as the imported good is now more expensive. The quantity produced by domestic producers increases as consumers would now start demanding for the domestic good. Tariffs are sometimes enacted to discourage importation and encourage domestic production.

As a result of the price increase, producer surplus increases. The increase in price also increases output. The producer surplus is the difference between the price of a product and the least amount the producer is willing to sell his product.

I hope my answer helps you.

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