Answer:
304,000
54,000
175,000
Explanation:
Ted has a realized gain of $304,000 ($368,000 sales price – $22,000 selling expenses –$42,000 basis).
Ted's recognized gain is $54,000 ($304,000 realized gain - $250,000 exclusion).
The basis of the new residence is its cost of $175,000
There are different kinds of businesses. In a franchise system. an individual or firm contracts with a parent company to set up a business or retail outlet.
- Franchising is simply known to be a type of contractual system. It is often used to commercialize products, services or technology.
There are five major types of franchises. They are: job franchise, product franchise, business format franchise, investment franchise and conversion franchise.
A franchise (or franchising) is simply known as a process of sharing products or services involving a franchisor, who establishes the trademark of the brand of a business system, and a franchisee, who is responsible for paying a royalty under the franchisor's name and system.
Learn more about Franchise from
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Answer:
Tthe cost of goods manufactured is c. $122,000
Explanation:
The cost of goods manufactured = The beginning of work in process + Cost of materials used + Direct labor costs + Factory overhead - The ending of work in process.
Gunner Manufacturing has the financial records: Cost of materials used $45,000 Direct labor costs 48,000 Factory overhead 39,000 Work in process, beginning 18,000 Work in process, ending 28,000.
Therefore,
The cost of goods manufactured = $18,000 + $45,000 + $48,000 + $39,000 - $28,000 = $122,000
