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sp2606 [1]
3 years ago
11

Yolanda buys a house in the mountains for $450,000 which she uses as her personal vacation home. she builds an additional room o

n the house for $40,000. she sells the property for $560,000 and pays $28,000 in commissions and $14,000 in legal fees in connection with the sale. what is the recognized gain or loss on the sale of the house?
Business
1 answer:
CaHeK987 [17]3 years ago
6 0
<span>Yolanda buys a house in the mountains for $450,000 which she uses as her personal vacation home. she builds an additional room on the house for $40,000. she sells the property for $560,000 and pays $28,000 in commissions and $14,000 in legal fees in connection with the sale. what is the recognized gain or loss on the sale of the house?  = </span>She gained $28,000

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Assume December 31 is a Wednesday. Weld-Rite Company’s wages are paid every Friday, and the weekly payroll (for five days) amoun
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Answer:

Please see explanation

Explanation:

The following journal entry shall be recorded in the accounts of Weld-Rite Company  in respect of salaries expense to be accrued as at December 31:

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Salaries expense                              $3,600

(6,000/5*3)                                                                

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4 0
2 years ago
The current ratio includes at the of the following except :
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Answer: B i believe

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7 0
3 years ago
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The following cost data pertain to the operations of Montgomery Department Stores, Inc., for the month of July. Corporate legal
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Answer:

1.$134,000

2.$183,800

3.$124,050

Explanation:

1. Computation for the total amount of the costs that are direct costs of the Apparel Department

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Apparel Department sales commission-Evendale store $7,950

Apparel Department manager's salary-Evendale store $9,950

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2. Computation for the total amount of the costs that are direct costs of the Evendale Store

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Store managers salary - Evendale store $18,300

Apparel Department sales commission-Evendale store $7,950

Store utilities - Evendale store $17,800

Janitorial costs - Evendale store $13,700

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Total direct cost for the Evendale store $183,800

3. Computation for the total amount of the Apparel Department's direct costs that are variable costs with respect to total departmental sales

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Apparel Department sales commission-Evendale store $7,950

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6 0
2 years ago
When McDonald's corporate headquarters offers a local McDonald's franchise to a franchisee on Bourbon Street in New Orleans, it
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In the given case, McDonald's is offering franchise to an existing franchisee of the company. Thus, we can conclude that the above case is an example of exclusive distribution system.

4 0
3 years ago
You can probably use the 1040EZ form, as long as what is true?
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As long as you have no dependents

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But if you have a dependent ( like a spouse who claimed that you should pay for your child's education fund) , you can not use 1040EZ
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3 years ago
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