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Free_Kalibri [48]
3 years ago
14

Koch traded Machine 1 for Machine 2 when the fair market value of both machines was $50,000. Koch originally purchased Machine 1

for $75,000, and Machine 1's adjusted basis was $40,000 at the time of the exchange. Machine 2's seller purchased it for $65,000 and Machine 2's adjusted basis was $55,000 at the time of the exchange. What is Koch's adjusted basis in Machine 2 after the exchange
Business
1 answer:
nexus9112 [7]3 years ago
8 0

Answer:

The right answer is $50,000

Explanation:

Simply put, adjusted basis is the cost of an object after factors that affects the cost has being considered. These factors usually include taxes, depreciation value and any other cost incurred in getting and retaining the said object. Adjusted basis is important so as to know the right amount to sell.

Adjusted basis increases when an individual factors the cost incurred from taxes and maintenance ad it reduces when he/she factors in depreciation.

In the case of Koch, he already exchanged his machine for another at $50,000, as far as he is concerned at that moment, the adjusted basis is $50,000 because it was exchanged in a fair market.  

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Catherine sat down with all of her income details from the past year to calculate the total income she had in that period. After
HACTEHA [7]

Answer:

<em><u>The answer is</u></em>: <u>Net income.</u>

<u />

Explanation:

Net income is a measure of the profitability of a company, or person. It is the income of an amount less the cost of goods sold, expenses, depreciation and amortization, interest and taxes for an accounting period.

<u>For households and individuals</u>, net income refers to gross income, less taxes and other deductions, for example, mandatory pension contributions. It is usually the basis for calculating how much income tax is owed.

<em><u>The answer is</u></em>: <u>Net income.</u>

6 0
4 years ago
Frank bought some mini blinds. Although he did not receive a written warranty, the blinds should be expected to open and close p
SIZIF [17.4K]

Answer:

C.Implied warranty

Explanation:

An implied warranty is an assumed assurance that the product purchased is fit to function as intended. The implied warranty can be oral, written, or silent.

An implied warranty protects customers from dishonest traders. All products and some services carry an implied warranty, written or not. The warranty guarantees that the product conforms to the buyer's expectations. For example, if you buy a car, you expect the engine to start and the vehicle to move.

Frank has an implied warranty. He's expectations are the blind will work. Products with an implied warranty may also come with other forms of assurances such as express or full warranties.

8 0
3 years ago
Two automobile manufacturers are working together to develop hybrid technology. This type of relationship between the two automo
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Answer:

The correct  option is A, co-opetition

Explanation:

Co-opetition derives its root from competition and co-operation.It refers to an arrangement where competing firms co-operate towards achieving a common goal like the case of two two automobile manufacturers are likely going to be in direct competition with each co-operating in order to develop a hybrid technology expected to benefit both.

Hence option C is obviously wrong as competition is just one side of co-opetition which also includes co-operation

Strategic alliance lacks an element of competition,hence it is also wrong, same applies to collaboration.

Finally, business strategy is generic in nature so it is out of context.

3 0
4 years ago
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1. Define Trade, Import and Export<br><br> 2. List items the U.S. imports and exports.
jasenka [17]

Answer:

food and clothing

Explanation:

import is to bring things from a different country for sale. export is to give things to a different country or place for sale. trade is to transfer or exchange something from a different country.

4 0
3 years ago
Karl marx's primary disagreement with thomas malthus was his insistence that society was not overpopulated but that wealth neede
ELEN [110]
<span>This is, in fact, very true. Karl Marx believed that the wealth and financial gains available in the United States should have been better balanced throughout the population, however, Thomas Malthus believed the people who didn't have enough were a product of overpopulation.</span>
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4 years ago
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