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
Svetach [21]
3 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]3 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

You might be interested in
Southern Tours is considering acquiring Holiday Vacations. Management believes Holiday Vacations can generate cash flows of $218
lara31 [8.8K]

Answer:

The maximum Southern Tours could pay to acquire the Holiday Vacations is the present is the value of the inflows to be generated from the target company.

The present of the target business is $519,799.59  

Explanation:

That amount is the maximum that should be paid for the target business,depending on negotiation skills of Southern Tours' management.

A  lower price could be bargained,which better makes the investment more profitable.

Find attached spreadsheet for detailed computations.

Download xlsx
6 0
3 years ago
How is a demand curve derived from a demand schedule
Basile [38]

Answer:

the demand curve is a graphical representation depicting the relationship between a commodity different price levels and quantities which consumer and willing to buy it is derived from a demand schedule which is the stability of the price and quantity pure that comprise the

8 0
3 years ago
During an equal employment opportunity​ (EEO) investigation, the Equal Employment Opportunity Commission​ (EEOC) will issue an o
o-na [289]

Answer: Cause or no cause took place

Explanation: There are various steps taken to determine whether there is reasonable cause (evidence exists that workplace discrimination occurred) between employees took place. The EEOC will investigate this situation by applying the following procedures:

1. The EEOC investigator will request that the charging party and the organisation provide information on the situation. The investigator will then go through this info and make a recommendation on if reasonable cause does exist.

2. If the EEOC investigator determines that reasonable cause exists, then this investigator will issue a letter of determination stating this fact, to all parties involved. All the parties including the investigator will then discuss how to resolve this charge through a process known as conciliation.

3. If however it is determined that reasonable cause for workplace discrimination did not take place, then the investigator will issue the charging party and the organisation with a dismissal and notice of rights document. This document stipulates that the charging party has 90 days to file a lawsuit in federal court if he/she decides to take further action against the organisation.

7 0
3 years ago
Complete the sentences to describe two different ways to rearrange slides in PowerPoint.
zimovet [89]

Answer:

In normal view, go to the slide deck.

Then, click and drag a slide thumbnail to a new position.

Or, in Slide Sorter View, drag and drop slides to a new location in the presentation.

7 0
2 years ago
A disadvantage of the fixed-period inventory system is that:
Andrei [34K]

Answer:

The correct answer is letter "B": since there is no count of inventory during the review period, a stockout is possible.

Explanation:

The fixed-period inventory system, also known as a periodic inventory system, only updates the organization’s inventory balance when an actual physical count of the inventory is necessary. Most companies only carry out a physical inventory count once every quarter or year, being this the reason why this system is called "fixed-period". However, this could lead to a company stockout at an unexpected period when the count was not carried out yet.

4 0
3 years ago
Other questions:
  • The residential division of Prism's high-speed Internet service uses one advertising agency, while its commercial division uses
    15·1 answer
  • 18. Callon Industries has projected sales of 67,000 machines for 2012. The estimated January 1, 2012, inventory is 6,000 units,
    12·1 answer
  • Financial literacy refers to:
    8·1 answer
  • Ms. Jessup teaches 7th grade. Her students do not pay tuition to attend her school. Which describes the type of school that Ms.
    12·2 answers
  • Adonis Corporation issued 10-year, 7% bonds with a par value of $220,000. Interest is paid semiannually. The market rate on the
    11·1 answer
  • What is likely to happen to the labor market equilibrium for firemen as building codes change to require firewalls and sprinkler
    9·1 answer
  • What are the two kinds of business or organizational structure?​
    5·1 answer
  • In this market research step, the best solution is recommended along with the reasons why it is the best option:
    6·1 answer
  • in times of rising prices, cost of goods sold determined using the lifo inventory assumption typically will be than cost of good
    12·1 answer
  • According to the eight-stage model of planned organizational change, considering the complexities of change required in organiza
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!