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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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Answer:

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5 0
3 years ago
Which are options for filtering specific categories in a record? Check all that apply.
baherus [9]

Answer:

placing cursor on desired data and clicking "Filter by selection"

right-clicking and choosing "Sort A to Z"

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The data can be filtered according to user requirements. There are several options to sort and filter data. The user can filter data according to different groups. He can sort the data according to ascending and descending.

8 0
3 years ago
Who first discovered America?
erma4kov [3.2K]

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Explanation:

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Read 2 more answers
Barrington company began the year with inventory of $100,000. during the year, the company purchased inventory in the amount of
lesya [120]

The above answer can be explained as under.

The total inventory of Barrington = Beginning Inventory + Purchases

Beginning Inventory = $ 100,000, Purchases = $ 750,000

Ending inventory = $ 90,000

Inventory consumed = total inventory of Barrington - Ending inventory = $ 750,000 - $ 90,000

Inventory consumed = $ 660,000

The journal entry to record inventory consumed -

Cost of goods sold ...... Dr.... $ 660,000

Merchandise Inventory.....Cr.... $ 660,000

6 0
4 years ago
in the 21st century what trends in the environmental forces (social, economic, technological, competitive, and regulatory) (a) w
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Answer:

A) Social factor will work for Prince Sports as people are more enlightened not in 21st century

Economic will work for Prince Sports 21st century because manufacturing of sport facilities and equipments are easily produced and better now, infrastructure and development will help improve Prince Sports returns. Technological will work for Prince Sports because technology is simply an improved ways of doing things and with innovation in technology, Prince Sports would be able to solved the contradiction between racquet speed and sweet spot.

Competitive will work for Prince Sports this is because with an increased competition in the of tennis sporting goods companies, Prince Sports would be force to make their brand stand out by rebranding and doing more research on their products improvement.

Regulatory Because of the regulatory forces, the Prince Sports business is governed and everything follows rules and regulations, it has helped Prince Sport to abide by the international regulation laws and prevent the local market of tennis racquets to suffer due to the trade regulations on products.

B) Worked against:

Social: At this age of Social media, people easily give of false information deliberately or unintentionally that tends to misleads customers, which works against Prince Sports.

Competition can make prince sports dwindle of they do not opt their own business

Explanation:

3 0
4 years ago
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