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Norma-Jean [14]
3 years ago
13

Mateo exchanges a rental house at the beach with an adjusted basis of $225,000 and a fair market value of $200,000 for a rental

house at the mountains with a fair market value of $180,000 and cash of $20,000. What is the recognized gain or loss?
a.$0
b.$20,000
c.($25,000)
d.($20,000)
Business
1 answer:
FromTheMoon [43]3 years ago
7 0

Answer:

a.$0

Explanation:

Adjusted basis is the cost of a property and other related costs incurred in acquiring, maintaining, or upgrading the property.

Fair value represent the worth of a property. It is the amount that one should expect to fetch from the market if they were to sell the property.

The fair value or the worth for Mateo's rental house is $200,000. He obtains another rental house with a fair value of $180,000 and cash $20,000.

He exchanged property worth  $200,000 for $200,000

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gThe following data are available for Martin Solutions, Inc. Year 2 Year 1 Sales $1,139,600 $1,192,320 Beginning inventory 80,00
Vaselesa [24]

Answer and Explanation:

The computation is shown below;

For Year 1

Average inventory = (Beginning inventory + Ending inventory)÷ 2

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For Year 2

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= 6.6 times

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3 0
3 years ago
The Full Employment and balanced Growth Act of 1978 formally established a specific unemployment target for the economy of
Advocard [28]

The Full Employment and Balanced Growth Act of 1978 formally established a specific unemployment target for the economy of what percentage?

Answer:

4 percent

Explanation:

The Full Employment and Balanced Growth Act of 1978 formally established a specific unemployment target for the economy of 4 percent

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