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2 years ago

Lisa sells business property with an adjusted basis of $130,000 to her son, Alfred, for the fair market value of $100,000.

Business

1 answer:

Sphinxa [80]2 years ago

8 0

Answer:

a. The realized loss of Liza’s is $30000 (it is not recognized loss).

b.1 Alfred recognized gain is $8000 and realized gain is $38000.

b.2 Alfred recognizes loss of $20000.

Explanation:

a. Explanation

The sell of business property to his son at $100000 which has the market value $130000. Since Lisa incurring a loss of $30000 is considered as a realized loss. This loss can not be considered as the recognized loss because section 267 explains that sell or exchange of property between related parties is not considered as recognized.

b.1 Explanation

the recognized gain can be determined by subtracting the previously disallowed loss of $30000 from $38000 gain. However, the realized gain ($38000) can be determined by subtracting $100000 from $138000.

b.2 Explanation

The recognized loss of $20000 can be calculated by subtracting the $100000 from $ 80000.

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3 years ago

Marginal thinking is best demonstrated by:

Aleonysh [2.5K]

Answer:

The correct option is A. Marginal thinking is best demonstrated by choosing to spend one more hour studying economics because you think the improvement in your score on the next quiz will be worth the sacrifice of time.

Explanation:

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3 years ago

Costs associated with the manufacture of miniature high-sensitivity piezoresistive pressure transducers is, $73,000 per year. A

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Answer:

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Explanation:

Calculation to determine the present worth of the savings

First step is to calculate for Present worth before

Present worth before= 73,000(P/A,10%,5)

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Present worth before= $276,728

Second step is to calculate for Present worth after

Present worth after= 16,000 + 58,000(P/F,10%,1) + 52,000(P/A,10%,4)(P/F,10%,1)

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3 years ago

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