Depreciation is the correct answer
Answer:
The word that means finding its food is hunting
The total of the assets in a balance sheet is equal to the summation of the owners' equity capital and the total liabilities of the firm.
<h3>What is a balance sheet?</h3>
Balance sheet is the financial statement of an organization that gives the details about the financial position of the company at the end of the financial period.
In the above case, the total of the assets is $50000 and the total of the equities and liabilities tallies the amount of assets. An image for the same has been attached for better reference.
Thus, the equation of the balance sheet holds true in the case of ABC Rentals.
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Answer:
$10,800
Explanation:
Alice's gross income must include the money she received from Richard as part of their divorce settlement, excluding the amount set for child support:
Alice's gross income = 12 x ($1,500 - $600) = 12 x $900 = $10,800
The extra money that Richard gave Alice that was not part of the divorce settlement is not included in her gross income, since it is included in Richard's gross income.
Answer: $1531
Explanation:
The corporation's tax basis in the property received in the exchange will be the addition of Tristan's Tax basis and the gain that's recognized on exchange by Tristan.
The gain realized will be:
= $1,570 - $1,255
= $315
Boot received = $276
Therefore, lower of $315 or $276 is $276.
The corporation's tax basis in the property received will then be:
= $1255 + $276
= $1531