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Alexeev081 [22]
3 years ago
10

Donald’s debt to Everett is past due. Everett brings a legal action against Donald to collect the debt. To ensure that a judgmen

t in Everett’s favor will be collectible, Everett asks the court to order the seizure of Donald’s property. This is a request for_________.
Business
1 answer:
romanna [79]3 years ago
6 0

Answer:

a writ of attachment

Explanation:

Based on the information provided within the question it can be said that this is a request for a writ of attachment. This is a request made to a court in order for the court to seize an asset of the defendant until an court sentenced debt is paid to the accusing party. Which is the case in this scenario since Everett asks the court to seize Donald's property until Donald pays Everett the money that the court sentenced him to pay.

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Answer and Explanation:

The computation of the amount and character of the gain recorded is shown below:

1. Recognized gain would be

= Sales - the cost of the property - recovery cost

= $1,200,000 - $1,000,000 - $411,750

= $611,750

2. Now as per the section 1245 the potential recapture is $411,750

3. Now extra section 291 ordinary income in the case when it is a corporation

= $411,750 ×20%

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= $529,400

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3 years ago
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Answer:

Follows are the solution to this question:

Explanation:

In point A:

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Titles and descriptions of accounts         Debit          Credit         Calculation    

Expenditure on bad debts               \$ \ 2,553, 300

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Answer:

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