Answer:
The answer is $115,000
Explanation:
Solution
Given that:
Property sold =$140,000
Adjusted basis = $255,000
The buyer paid =$148,000
Mortgage on reality =$107,000
The next step is to find Mr Beck realized gain or loss on sale
Thus
Sale value =$140,000
Adjusted basis =$255,000
140,00 + 255,000 = $115000
Therefore Mr beck realized gain or loss on sale is $115,000
Answer:
Yes
Explanation:
Yes, it is unethical if the specifics are important or affect someone. If this is the case then it is important for the information to be completely provided so that the individual is completely informed. Otherwise, it could prevent them from taking necessary action and pushing towards the result that they want. Instead without this information the will ultimately come to a bad scenario that they could have avoided.
Answer:
$1,000
Explanation:
Beginning balance in supplies account = $200
The supplies account is an asset account and ordinarily should have a debit balance. If additional supplies of $1,400 were purchased during the month, it goes into the account as a debit.
If at the end of the month, only $600 of supplies was still on hand total supplies expense
$200 + $1,400 - supplies expense = $600
supplies expense = $200 + $1,400 - $600
= $1,000
The supplies expense is debited when supplies are used and the corresponding credit goes to the supplies account.
Answer:
FV = A(<u>(1 + r)</u>n - 1)
r
FV = 1,000(<u>(1+ 0.08</u>)3 - 1
0.08
FV = 1,000 x 3.2464
FV = $3,246.40
The correct answer is B
Explanation:
In this case, there is need to calculate the future value of an ordinary annuity for 3 years at 8% interest rate.
