Answer:
Which party to the exchange must pay boot to make the exchange work?
- Rufus must pay boot since the FMV of its property is less than the FMV of Hardy's property.
How much boot must be paid?
- $90,000 - $77,500 = $12,500
Assuming the boot payment is made, how much gain or loss will Rufus realize and recognize on the exchange, and what tax basis will Rufus take in the property acquired?
- Rufus doesn't have any gain, and the tax basis for the new asset will be $50,000 + $12,500 = $62,500
Assuming the boot payment is made, how much gain or loss will Hardy realize and recognize on the exchange and what tax basis will Hardy take in the property acquired?
- Since Hardy's property basis is $60,000 and it would be receiving $50,000 (Rufus's property) + $12,500 = $62,500, then it must recognize a $2,500 gain. The basis of Hardy's new property will be $62,500.
Grammar,Spelling and punctuation.Correct grammar, punctuation and spelling are key in written communications. The reader will form an opinion of you, the author, based on both the content and presentation, and errors are likely to lead them to form a negative impression.
Answer: Web arena is so much competitive today because the world is becoming more reliant on the internet.
Explanation: Nowadays, people not only the millennial but also the old one's is relying on the internet. Prior the internet has been developed, people go to libraries for their researches and discover new things by their-selves. But now everything is as easy as counting one, two, three because everything we seek for an answers can be found on the internet with just one click away. Even education has never been so easy to achieve because internet is a free access of education. If you are too lazy to go to school then google has a online classroom for just for you.
Answer:
=$80,620
Explanation:
Under the unit of the production method, the cost of the asset is divided by its expected production level to determine the depreciation per unit.
For this truck, depreciation per unit
=$306,000 / 111,000 miles
=$2.78181 per mile
=$2.78 per mile
If the track is driven for $29,000 miles
The depreciation amount will be
=$2.78 x 29,000
=$80,620
Answer:
$4,400,000
Explanation:
Cash Pledged $2,000,000
Treasury bill due in one month $2,000,000
Cash in checking account $400,000
Cash and Cash Equivalents $4,400,000
Please note that treasury bill due after 90 days or maturing after 90 days are not considered cash equivalents.