"Sheridan Processes is involved with innovative approaches to finding energy reserves. Sheridan recently built a facility to ext
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The network diagram for the activities indicated above is given in the attached image.
<h3>What is a network diagram?</h3>A network diagram is a graphical depiction of a project that consists of a number of connected arrows and boxes that illustrate the interdependence of the project's operations.
The activity description is represented by boxes or nodes, and the interaction between the activities is represented by arrows.
<h3>What is the use of a network diagram?</h3>A network diagram enables a project manager to keep track of each component of a project and easily communicate its status to others.
It also provides:
- visual depiction of progress for stakeholders; and
- Creating project workflows.
Learn more about a network diagram:
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Given :
Bud exchanges land with an adjusted basis of $ 22,000 and a fair market value of $ 30,000 for another parcel of land with a fair market value of $ 28,000 and $2,000 cash.
To Find :
What is Bud's recognized gain or loss.
Solution :
This is a transaction of like kind exchange.
So, gain or loss to be recognized is :
Therefore, option B) is correct.