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ozzi
3 years ago
15

Moss exchanges a warehouse for a building he will use as an office building. The adjusted basis of the warehouse is $ 600,000 an

d the fair market value of the office building is $360,000. In addition, Moss receives cash of $ 150,000. What is the recognized gain or loss and the basis of the office building
Business
1 answer:
Tanya [424]3 years ago
5 0

Answer:

Moss

The recognized loss and the basis of the office building are:

Recognized loss = $90,000

Basis of office building = $360,000

Explanation:

a) Data and Calculations:

Adjusted basis of warehouse = $600,000

Fair market value of the office building = $360,000

Cash received in exchange = $150,000

Total value of assets received in exchange of the warehouse = $510,000 ($360,000 + $150,000)

Recognized loss = $90,000 ($600,000 - $510,000).

b) From the above transactions, Moss will recognize a loss of $90,000.  This is the difference between the adjusted basis of the warehouse and the fair market value of the office building and the cash that Moss received in exchange for the warehouse.

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The marginal utilities associated with the first 5 units of consumption of good Y are 15, 15, 10, 7, and 3, respectively. What i
julsineya [31]

Answer:

Total utility is 50

Explanation:

Mathematically;

TU = U1+MU2+MU3+MU4+MU5

TU = Total utility

U1= utility of 1st product of good Y

MU2= Marginal utility of 2nd product of good Y.............

MU5= Marginal utility of 5th product of good Y

Solution:

TUy= 15+15+10+7+3

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3 years ago
All of the following are organization-directed benefits associated with offering unconditional guarantees except: a. the guarant
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Answer:

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Yuri [45]

Answer:

False.

Explanation:

Accounting systems that use standards for product costs are standard cost systems.

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Alex777 [14]

Answer:

Add it all Together?

Explanation:

2850?

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2 years ago
To test their theories, economists usually have to:____.
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Answer:

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To test economic theories, economists would observe real behavior and test it with data from the real world. Which would in turn provide evidence based on what is being tested. Confronting theories predictions with evidence is a pointer to the fact that economic theories are verifiable and their validity can be tested.

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