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maw [93]
3 years ago
12

Juan, not a dealer in real property, sold land that he owned. His adjusted basis in the land was $700,000 and it was encumbered

by a mortgage for $100,000. The terms of the sale required the buyer to pay Juan $200,000 on the date of the sale. The buyer assumed Juan's mortgage and gave him a note for $900,000 (plus interest at the Federal rate) due in the following year. What is the gross profit percentage?
Business
1 answer:
Zielflug [23.3K]3 years ago
6 0

Answer:

45.45%

Explanation:

The total selling price was $200,000 (paid on the date of the sale) + $900,000 (note received) = $1,100,000

Juan's cost of he land = $700,000 (basis) - $100,000 (mortgage) = $600,000

Juan's profit = $1,100,000 - $600,000

Juan's gross profit percentage = $500,000 / $1,100,000 = 45.45%

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5 0
2 years ago
“ She turned to her shoulder partner to make sure that she had all that was presented” This is a active sentence how do you turn
Tpy6a [65]

Answer:

A shoulder was turned towards her partner to make sure everything that was presented was taken by her.

Explanation:

In order to change the active sentences into passive sentences, the object in the active sentence is changed into the subject. For example in the above given example, the object is shoulder which is changed into the subject and then the sentence is formed accordingly.

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I hope the answer is helpful.

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7 0
3 years ago
The modified accelerated cost recovery system (MACRS):Multiple ChoiceIs required for financial reporting.Does not allow partial
fredd [130]

Answer:

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6 0
3 years ago
1 + 1 = ?<br> First to answer gets brainliest XD
Igoryamba
2

Hope this helps

-Zayn Malik 1795
3 0
2 years ago
Read 2 more answers
Furniture purchased from Kailash for Rs. 6,000.​
Sav [38]

Answer:

What's the question or is this a statement?

Explanation:

?

7 0
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