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Svetach [21]
4 years ago
9

g sold their home (sales price $960,000; cost $260,000). All closing costs were paid by the buyer. Mitch and Michelle owned and

lived in their home for 18 months. Assuming no unusual or hardship circumstances apply, how much of the gain is included in gross income
Business
1 answer:
Llana [10]4 years ago
5 0

Answer:

$700,000

Explanation:

Data provided in the question

Sales price of the home = $960,000

Cost price of the home = $260,000

Based on the above information,

The computation of the amount of gain included in gross income is shown below:

= Selling price of the home - cost price of the home

= $960,000 - $260,000

= $700,000

Hence, the amount of gain i.e $700,000 is included in the gross income

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C. unfavorable direct labor cost variance

Explanation:

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(Economics)How is the equilibrium price found using a supply and demand graph
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2. A pizzeria raises its price from $3.00
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Which one of the following types of charitable contributions is NOT deductible for federal income tax purposes?
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3 0
3 years ago
Judd Corporation has a weighted average cost of capital of 10.25%, and its value of operations is $57.50 million. Free cash flow
nevsk [136]

Answer:

The answer is $2.44 millions option (a) is correct

Explanation:

Solution

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