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posledela
2 years ago
13

Koch traded Machine 1 for Machine 2 when the fair market value of both machines was $49,500. Koch originally purchased Machine 1

for $76,000, and Machine 1's adjusted basis was $40,500 at the time of the exchange. Machine 2's seller purchased it for $64,500 and Machine 2's adjusted basis was $55,500 at the time of the exchange. What is Koch's adjusted basis in machine 2 after the exchange
Business
1 answer:
Shalnov [3]2 years ago
6 0

Answer:

$40,500.

Explanation:

Calculation for Koch's adjusted basis in machine 2 after the exchange

Based on the information given we were told that Machine 1's had adjusted basis of the amount of $40,500 at the time of the exchange which means that Koch's adjusted basis in machine 2 after the exchange will the amount of $40,500 which is Machine 1's adjusted basis .

Therefore Koch's adjusted basis in machine 2 after the exchange will be $40,500

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<h3>What is Earnings Before Tax (EBT) ?</h3>

Earnings before tax (EBT) measures a company's financial performance. It is a calculation of a firm's earnings before taxes are taken out. The calculation is revenue minus expenses, excluding taxes.

EBT is a line item on a company's income statement. It shows a company's earnings with the cost of goods sold (COGS), interest, depreciation, general and administrative expenses, and other operating expenses deducted from gross sales.

Solution-

<u>Calculating Garner Grocers tax liability for 2014</u>

Taxable income (EBT) 2011, 2012, 2013, 2014

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Garner Grocers tax liability = $102,000

So, Garner Grocers tax liability for 2014 is $102,000

Your question is incomplete, but most probably your full question was:

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