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QveST [7]
3 years ago
9

Pam exchanges a rental building, which has an adjusted basis of $520,000, for investment land which has a fair market value of $

700,000. In addition, Pam receives $100,000 in cash. What is the recognized gain or loss and the basis of the investment land?a. $0 and $420,000.b. $100,000 and $420,000.c. $100,000 and $520,000.d. $280,000 and $700,000.e. None of the above.
Business
1 answer:
kompoz [17]3 years ago
8 0

Answer: Option "d" $280000 and $700000.

Explanation:

Option “d” is correct because the recognized gain is $280,000.  Pam exchanges a building that has adjusted worth $520000 for the land which has a value of $700000. Thus, at this point, Pam is making a profit of (700000 - 520000) = $180,000. Moreover, he receives additional cash of $100,000. So, total gain by Pam is $180,000 + $100000 = $280,000. However, the tax basis of land refers to the fair market value at which it was acquired. So, it will be $700000.

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Sheridan Company's trial balance reflected the following account balances at December 31, 2017:
zalisa [80]

Answer:

$143,700

Explanation:

Current assets in Sheridan Company's trial balance are;

Accounts receivable (net) = $37,000

Trading securities = $11,500

Cash = $33,000

Inventory = $58,500

Prepaid expenses = $3,700

Total current assets = $37,000 + $11,500  + $33,000  + $58,500  + $3,700

                                 = $143,700

The right answer is not given as an option.

7 0
4 years ago
How could the journalist improve this article to be less biased?
liubo4ka [24]

We need to see the article to give the best answer, but the closest choice would be <u>D.</u>

Giving both sides of the story is one way to avoid bias (aka favoring) toward one side.

7 0
4 years ago
Jennifer sees herself as a loving, caring mother and wife. She also sees herself as an accomplished professional. Finally, she s
Whitepunk [10]

The totality of Jennifer's thoughts and feelings about herself can be defined as a self-concept, which is based on her belief about herself and the responses of other individuals.

<h3 /><h3>What is the relevance of self-concept?</h3>

It helps in the formation of personality and behaviors based on self-esteem and life experiences to form your belief about yourself, being a motivational factor for positive or negative behaviors.

Therefore, through identity, body image, self-esteem and their role in society, an individual is able to form their self-concept.

The correct answer is:

C. Self-concept

Find out more about self-concept here:

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3 0
2 years ago
According to Robert House, the style a leader should use with an individual depends on _____________.
notsponge [240]

Answer:

I don't know you figure it out JK

6 0
2 years ago
In applying the high-low method, what is the fixed cost? month miles total cost january 80,000 $144,000 february 50,000 120,000
kupik [55]
The high and low levels of activity are 90,000 miles in April and 50,000 miles in February. The costs at these two levels are $195,000 and $120,000, re-spectively. The difference in costs is $75,000 ($195000-120000), and the difference in miles is 40,000 (90000-50000). Therefore, variable cost per unit is $1.875computed as follows.
75000÷40000=1.875

Determine the fixed costs by subtracting the total variable costs at either the high or the low activity level from the total cost at that activity level
Variable cost=1.875×50,000=93,750

fixed cost=120,000−93,750=26,250


5 0
3 years ago
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