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Harman [31]
3 years ago
12

Rebecca sells her personal scooter for $550. She purchased the scooter for $700 three years ago. She also sells a painting for $

1,200 which she acquired five years ago for $900.
1. Rebecca has a $ _________ realized loss on the scooter and a $ ____________ realized gain on the painting. Rebecca only will recognize the gain or loss associated with the painting.
Business
1 answer:
SIZIF [17.4K]3 years ago
4 0

Answer:

Rebecca has a $150 realized loss on the scooter and a $300 realized gain on the painting

Explanation:

The question when looked from a taxation point of view centers on capital gains.Capital gains are gains on which a company or an individual pays capital gains tax upon disposal of their assets .

Since Rebecca bought the scooter for $700 but disposed of at $550 , it follows that Rebecca received $150 less from the purchaser, which is the realized loss on scooter's sale.

Also, the proceeds received by Rebecca on the painting was $300 much more than the cost of the painting,this refers to the gains recorded upon outright sale of the painting

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An aging of a company's accounts receivable indicates that $8,000 are estimated to be uncollectible. If Allowance for Doubtful A
joja [24]

Answer:

c. debit to Bad Debts Expense for $6,900.

Explanation:

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The adjustment to record bad debts for the period will require a

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7 0
3 years ago
What amount would the insurance company pay for vandalism that does $425 of damage to a home if the insured homeowner has a $500
iren [92.7K]

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( Because the deductible exceeds the loss or the damage. The loss is $425 and the deductible is $ 500, so here the deductible exceeds the loss hence the insurance company will not pay anything).

People like you pay premiums to insurance companies to cover potential losses related to their property. Insurance companies receive these premiums and aggregate them into money pools. These funds are available to cover losses incurred by pool members.

When you report a car accident to the insurance company, the insurance company will send an adjuster to assess the damage. The expert's first task is to decide whether to classify the vehicle as a total loss. Assuming the vehicle is a total loss, the expert performs a valuation and assigns a value to the vehicle.

Learn more about vandalism at

brainly.com/question/13646632

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5 0
2 years ago
6.
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Answer:

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Brand performance is the concept that compares and contrasts the goals a brand sets and how it meets those targets.

Therefore, brand performance is the concept that describe how well a market fulfills customers needs.

The answer is D

6 0
4 years ago
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DochEvi [55]

Answer:

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Explanation:

6 0
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