Answer:
Carpenter will have to pay taxes for a recognized gain of $150,000
Explanation:
When you are calculating taxes, you must use the adjusted a¿basis of the buildings.
Paul is exchanging a $450,000 building + $75,000 in cash for a $375,000 office building.
Paul's realized loss = $525,000 - $375,000 = $150,000
therefore Carpenter's recognized gain = $150,000
Answer:
Each company drills two wells and experiences a profit of $22 million.
Explanation:
If each company acts independently and drills two oil wells each they will have a total of 4 wells each worth (60 million ÷ 4= $15 million.
Each company will have two oil wells which equals (2* 15 million = $30 million)
But each company incurs cost of $4 million per well. That is total cost of $8 million.
Therefore the profit for each company will be $30 million - $8 million= $22 million
Answer:
A corporation is to make profit
non-profit coorporation don't have any shareholders, so they serve a different function. Thier focus is on something other than making profit
Answer:
The total of the combined salaries of all the employees at Company E after July 1 last year was 110% of that before July 1 last year.
Explanation:
If we use numbers, as example, we can get that:
Before July 1st Company E' s employes had in average salary of $100.000 (example).
If, after the decreased of employees, average salary was 10% percent more, that means that:
- $100.000 x 10%= <u>$10.000
</u>
So, total of combined salaries after decreased was
- $100.000+$10.000= $110.000
$110.000 is the 110% of the average salary before decreased because:
- <u>$110.000/100.000 = 110%</u>