1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Bad White [126]
3 years ago
10

Jack and Diane decided to remodel their kitchen. They removed their old cabinets and replaced them with newer, nicer cabinets. T

hey installed the old cabinets in a rental home that they own and lease to other people. The original cost of the old cabinets was $6,000. The fair market value on the date they were installed in the rental house was $2,500. The cost of the new cabinets was $11,000. What amount should Jack and Diane use as the basis for depreciation for the cabinets that have been installed in the rental property?
Business
1 answer:
Hitman42 [59]3 years ago
4 0

Answer:

The answer is: $2,500

Explanation:

According to the IRS, the cost basis for any asset should be the original cost adjusted by its depreciation.

Since Jack and Diane aren't able to determine the depreciation expenses for the cabinets, they should use their fair market value as cost basis.

You might be interested in
What kinds of action could you take when you execute your decisions in the ipde process?
8_murik_8 [283]

When you apply the IPDE process, you may decide to change speed, change path, or communicate with others. The smith gadget is a method of organizing space zones around your vehicle. There are six zones of the area surrounding your vehicle inside the sector control system.

Carrying out your decision to avoid a conflict is the Execute step in the IPDE technique. this is the physical step of IPDE. The important moves you could execute are: manipulating pace, steering, and talking. Different actions include: using the heater, defroster, and wipers.

IPDE stands for pick out, are expecting, decide, and Execute. this is the step-by means of-step method in the back of the ideas of defensive riding and the complexities of visual perception in traffic.

The first step in the IPDE manner is to become aware of viable hazards. the second step within the IPDE procedure is to expect approximately what should take place. you'll use your information and judgment and enjoy. The third step within the IPDE process is to decide or choose.

Learn more about IPDE process here: brainly.com/question/2497669

#SPJ4

4 0
2 years ago
Suppose a​ student-athlete has the opportunity to earn ​$600,000 next year playing for a minor league baseball​ team, ​$100,000
mafiozo [28]

Answer:

it's 0

Explanation:

hes returning to college and making zero money

5 0
3 years ago
If you buy a ticket to an outdoor concert but come down with a bad cold on the night of the show, the principle of ____ suggests
Marina86 [1]

Answer:

sunk cost

Explanation:

Sunk cost is cost that has already been incurred and it cannot be recovered. When making future decisions, sunk cost should not be considered.

The money i paid for the ticket is the sunk cost. I should not consider this cost when making the decision of whether to for the concert or not to

5 0
3 years ago
The application of multiple regression analysis to a data set yields an F statistic that is highly significant and t ratios that
dolphi86 [110]

Answer:

(B) multicollinearity is present.

Explanation:

Multicollinearity -

It is the process where , one of the predictor variable in the multiple regression model can be linearly predicted from the others with  the substantial degree of accuracy , is known as multicollinearity or  collinearity .

<u>In this case , the coefficient estimated of the multiple regression can change erratically for even a small change in the model .</u>

hence , from the question , the indication is of (B) multicollinearity is present .

6 0
3 years ago
Were did west African slave traders get their slaves to sell to Europeans ​
Nimfa-mama [501]

Answer:

I don't know but where can i buy

Explanation:

3 0
3 years ago
Other questions:
  • An early warning signal for the potential of an overdrawn budget is created when: contingency funds are applied for. a bottom-up
    5·1 answer
  • Inventory managers at SYX Enterprises utilize an inventory coetrol system where materials are scheduled to arrive just as they a
    14·1 answer
  • A computer program is an example of _____.
    7·1 answer
  • What is capital gains?
    11·1 answer
  • Marion Franklin is the CEO of a local real estate company, Action Realty. The community has seen an increase in population over
    11·1 answer
  • Financing With Stock. Chapman Co. is a privately owned MNC in the U.S. that plans to engage in an initial public offering (IPO)
    15·1 answer
  • The Master Budget You are currently working as a contractor building state of the art airports. One of the managerial accountant
    13·1 answer
  • According to the Taylor rule, if inflation has risen by 6 percentage points above its target of 2 percent, the Fed should:_____.
    6·1 answer
  • Is a market where securities are bought and sold
    5·1 answer
  • Corporation has two divisions, East and West. The following information was taken from last year's income statement segmented by
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!