1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jonny [76]
3 years ago
15

QUIZLLET Robin’s automobile, which she uses exclusively in her trade or business, was damaged in an accident. The adjusted basis

of the automobile prior to the accident was $8,000. The fair market value of the automobile before the accident was $10,000 and the fair market value of the automobile after the accident was $500. Insurance proceeds of $9,500 were received. What are Robin’s income tax consequences resulting from this transaction?
Business
1 answer:
Leno4ka [110]3 years ago
4 0

Answer:

No impact for income tax purposes.

Explanation:

The Fair market Value before accident     $10,000

The fair Market Value after accident         ($500)

Decrease in Fair Market Value after accident $9,500

Sale proceeds received  from Insurance coverage ($9,500)

Casualty Gain/(loss)                                               $0

Therefore there is no gain or loss on this transaction for income tax purposes

You might be interested in
the loss of producer surplus associated with some sellers dropping out of the market as a result of the tax is
san4es73 [151]

Answer:

$60

Explanation:

According to information on your question. We are to note that an absence or reduction of suppliers could lead to lower supply.

As in this case, the producer supply loss of $60 was incurred as some sellers dropped out of the market as a result of the tax.

6 0
3 years ago
Why is it important for a company to operate cross-functionally?
scoundrel [369]
It is important so business managers can make more successful decisions and facilitate problem solving and decision making.
4 0
3 years ago
What is the process of taking decision in the office?​
Black_prince [1.1K]

Answer:

dress code, smile, thinking cap, and due process

Explanation:

u must have all of them to complete your job. if u not fit for work you not going to have a nice day. you must think the due process through and follow guidelines

4 0
3 years ago
What term describes information that is sent to recipients without their request via reports, e-mails, faxes, voice mails, and o
jarptica [38.1K]

The term " Push Communication "describes the information that is sent to recipients without their request via reports, e-mails, faxes, voice mails, and other means.

<h3>What is the difference between pull and push communication?</h3>

When an urgent reaction is not needed, push communication is appropriate. On receiving the message, the addressee does something, though. Informational communication is a type of pull communication. The message is communicated by the sender via websites, bulletins, etc.

In push communication, the sender pushes information in one direction to the receiver. The most frequent use of it is to provide expected, non-urgent information. Push communication is typically communicated in writing and does not require a prompt reaction from the recipient.

Learn more about Push Communication here:

brainly.com/question/13653950

#SPJ4

3 0
2 years ago
harry is trying to take one more class this semester. he is weighing the marginal benefit of taking one more class to the margin
Mars2501 [29]

The economic concept that is most related to Harry's style of decision-making is decision at the margin.

<h3>What is "decision at the margin"?</h3>

When we make decisions at the margin, it means that we are considering the marginal aspects of the decision.

In clearer terms, we are considering things like how much the one additional unit of something will cost us, as well as what we stand to benefit from the additional unit like Harry is doing.

Find out more on decision at the margin at brainly.com/question/13764545

#SPJ1

8 0
2 years ago
Other questions:
  • Scientist estimate that sea level has risen about what over the past 100 years
    13·1 answer
  • You are considering purchasing a stock that currently sells for $50. The expected price of the stock in a year is $45, and durin
    7·1 answer
  • A preliminary prospectus_____________.
    7·1 answer
  • Gunderman Corporation has two divisions: the Alpha Division and the Charlie Division. The Alpha Division has sales of $260,000,
    8·1 answer
  • Mia's only debt obligations are a car loan payment of $606 and a credit card payment of $90 every month. what is the minimum amo
    12·2 answers
  • If a perfectly competitive firm is producing a quantity where MC &gt; MR, then profit: is maximized. can be increased by increas
    8·2 answers
  • You have a budget of $1,440 per week for employees. Employees are paid $12 per hour and work 40 hours per week. Ignoring overhea
    15·2 answers
  • if an economic expansion in the economy caused an increase in the demand for loanable funds, what would be the effect on the int
    7·1 answer
  • Which two age groups have seen the sharpest increase as a percentage of taxpayers from 2008 to 2018?
    14·1 answer
  • Which of the following is an example of a content management system (CMS)?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!