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
Volgvan
3 years ago
8

Arlington LLC exchanged land used in its business for some new land. Arlington originally purchased the land it exchanged for $2

8,000. The new land had a fair market value of $35,000. Arlington also received $2,000 of office equipment in the transaction. What is Arlington's recognized gain or loss on the exchange? Group of answer choices
Business
1 answer:
m_a_m_a [10]3 years ago
5 0

Answer:

The Arlington's recognized gain or loss on the exchange is $2,000

Explanation:

For computing the recognize loss or gain, the following treatment is to be done.

The lower of

1. Amount received

2. Realized gain

The amount received is $2,000 and the realized gain is the difference between the purchase cost and the fair market value i.e

= $35,000 - $28,000

= $7,000

So, the lower would be $2,000

You might be interested in
Fast fine foods markets some of its products to consumers looking for simple quick meals. Fast find foots also offer another lin
k0ka [10]

Answer: Market segmentation

Explanation:

Market segmentation is when a market is being divided based on the customers needs. Customers with similar characteristics or needs are grouped together.

Market segmentation helps a business in reaching customers with similarbjeeds quicker and this leads to improvement in satisfaction and customer relationships. This is the method used by Fast fine foods.

4 0
3 years ago
Owns taxi (automobile) worth $1,315 A. Asset C. Both B. Liability D. Neither
lys-0071 [83]
A automobile would be a asset

5 0
3 years ago
Paul is exchanging a building with a market value of $600,000.00 and an adjusted basis of $450,000. He is exchanging it for an a
alukav5142 [94]

Answer:

Carpenter will have to pay taxes for a recognized gain of $150,000

Explanation:

When you are calculating taxes, you must use the adjusted a¿basis of the buildings.

Paul is exchanging a $450,000 building + $75,000 in cash for a $375,000 office building.

Paul's realized loss = $525,000 - $375,000 = $150,000

therefore Carpenter's recognized gain = $150,000

7 0
4 years ago
Suppose you transfer $500 from your checking account to your savings account. With this transaction, M1 _________ and M2________
Luba_88 [7]
Decreased; stayed the same
4 0
3 years ago
An amortized loan: Multiple Choice requires the principal amount to be repaid in even increments over the life of the loan. may
babymother [125]

Answer:

The correct answer is: may have equal or increasing amounts applied to the principal from each loan payment.

Explanation:

Amortization can be defined as the process of spreading out the loan in monthly payments. An amortized loan has scheduled periodic payments for both interests as well as principal. If the payments for each period are equal it is called a fully amortized loan.

In amortized loans the interest is paid off first then the amount excess of interest reduces the principal. A common example of amortized loans is auto loans, home loans.

The payments for amortized loans can be equal or unequal for each period.

7 0
3 years ago
Other questions:
  • Gourd supermarkets has an extensive training program for all new employees and then has all employees spend a day in customer se
    13·2 answers
  • How do jellyfish move
    10·2 answers
  • Which structure would you be most likely to choose if your company wanted to give its sales people a predictable paycheck and al
    6·2 answers
  • Sensitive data on a gfe mobile device does not need to be encrypted.
    5·1 answer
  • Suppose Sean would like to invest $6,000 of his savings. One way of investing is to purchase stock or bonds from a private compa
    7·1 answer
  • The distinction between a normal and an inferior good is
    9·1 answer
  • Which margin size is most appropriate for a business card?
    13·2 answers
  • Williams Company purchased a machine costing $25,000 and is depreciating over a 10-year estimated useful life with a residual va
    6·1 answer
  • Amazon is considered one of the best digital marketers and is known for establishing relationships with customers. The company t
    5·1 answer
  • about how many years will it take for $100,000 placed in a bank account at 7% interest rate compounded annually to double?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!