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Tasya [4]
3 years ago
10

Peroni Corporation sold a parcel of land valued at $300,000. Its basis in the land was $250,000. For the land, Peroni received $

150,000 in cash in the current year and a note providing Peroni with $150,000 in the subsequent year. What is Peroni's recognized gain in the current and subsequent year, respectively? a. $0, $50,000.b. $10,000, $40,000.c. $25,000, $25,000.d. $50,000, $0.e. None of the choices are correct.
Business
1 answer:
alukav5142 [94]3 years ago
3 0

Answer:

Option (c) is correct.

Explanation:

Gross profit on sale :

= (Land value - Basis) ÷ Land value

= (300,000 - 250,000) ÷ 300,000

= 0.1667

= 16.67%

Therefore,

Gain recognized in :

Year 1 :

= Cash received × Gross profit percent

= 150,000 × 16.67%

= 25,000

Year 2 :

= Note value× Gross profit percent

= 150,000 × 16.67%

= 25,000

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Explain the difference between a flat tax and a graduated income tax. in your own words.​
Lelechka [254]

Answer:

flat tax is a set percentage that dies not change

graduated tax changes according to the amount being taxed. usually, the higher the amount, the higher the tax rate is.

8 0
3 years ago
The following events took place at a manufacturing company for the current year:
KiRa [710]

Answer:

$91,070

Explanation:

The computation of the value of the ending work in process inventory is shown below:

Ending Work in process inventory = Beginning work in process inventory + transferred materials + labor cost +  other manufacturing cost

where,

Beginning work in process inventory is $0

Transferred material amount

= $97,000 × 80%

= $77,600

Labor cost = $58,000 + $15,600 = $73,600

Other manufacturing cost = $109,000

So, the amount is

= $0 + $77,600 + $73,600 + $109,000

= $260,200

And, since 65% is completed so the remaining 35% is to be considered i.e

= $260,200 × 35%

= $91,070

3 0
3 years ago
How can i change my age if i acidently put the wrong age when registering for brainly
xxTIMURxx [149]

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7 0
3 years ago
The purpose of rough cut capacity planning is to: Select one: a. place a time fence around the MPS. b. determine a production sc
gregori [183]

Answer:

The answer is "Option d".

Explanation:

To compute the estimated work on master capacity planning, the objective of basic resource allocation is utilized. It is then contrasted to a proven ability that enhances organizational MPS feasibility.

It verifies that you have enough ability at your disposal that satisfy the needs of your master's programs. It is a tool in long-term production scheduling for marketing and production to accomplish the ratio of the capacity required and accessible and to manage changes in the plan and/or looking.

6 0
3 years ago
Context content and culture are
Black_prince [1.1K]

Complete Question:

Context, content and culture are:

O Important ethical concepts

O Important marketing concepts

O Corporate ethics policy

O Three dimensions of evaluating corporate gifts.

Answer:

Context, content and culture are:

O Three dimensions of evaluating corporate gifts.

Explanation:

Corporate gifts may turn out to be regarded as bribery if they are meant to induce the other party to alter their behaviors.  This is why in evaluating corporate gifts, the criteria have always included the context (the circumstances in which the gifts are given), the content (how much is given), and the culture (the accepted general practice in a particular industry, locality, or region).  Generally, corporate gifts are given either as means of showing appreciation, creating positive first impression, or returning some favors.

8 0
3 years ago
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