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oksano4ka [1.4K]
3 years ago
14

Kuong Inc. sold a commercial office building used in the corporate business for $1.5 million. Kuong purchased the building in 20

00 for a cost of $1.4 million and had deducted $538,000 MACRS depreciation through date of sale. Kuong should characterize the $638,000 gain recognized on sale as: ___________
a. $127,600 ordinary gain and $510,400 Section
b. 1231 gain $538,000 ordinary gain and $100,000 Section 1231 gain
c. $107,600 ordinary gain and $530,400 Section 1231 gain
d. Section 1231 gain
Business
1 answer:
mars1129 [50]3 years ago
7 0

Answer: $107,600 ordinary gain and $530,400 Section 1231 gain

Explanation:

Section 1231 property is when a business property that's either real or depreciable is held for more than one year. It should be noted that section 1231 gain which arises when the property is sold will be taxed at lower capital gains tax rate which is versus the ordinary income rate.

Therefore, Kuong should characterize the $638,000 gain recognized on sale as $107,600 ordinary gain and $530,400 Section 1231 gain.

The correct option is C.

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An informal writing style is typically appropriate when writing for an infamiliar audience.​
marysya [2.9K]

Answer:

Analytical reports are written for external audiences; informational reports are written for internal. An informal writing style is appropriate for external reports

Explanation:

Meaning of Informal Writing Style

Colloquial – Informal writing is similar to a spoken conversation. Informal writing may include slang, figures of speech, broken syntax, asides and so on. Informal writing takes a personal tone as if you were speaking directly to your audience (the reader).

I hope that this helps you

6 0
3 years ago
Taylor Enterprises purchased 56,000 pounds (cost = $420,000) of direct material to be used in the manufacture of the company's s
Gelneren [198K]

Answer:

The right answer is Option (D).

Explanation:

According to the Scenario, the given data is:

Standard cost : $14.80 / hour

Total working hour: 22,000 hour

Total units : 10,900 units

working hour for a single unit: 2 hours/unit

So, the direct-labor efficiency balance can be calculated as:

Direct-labor efficiency variance = Standard Cost × ( Total working hour - Standard working hour )

Where, Standard working hour = total units × working hours per unit

= 10900 × 2 = 21800 hours

So, Direct-labor efficiency variance = 14.80 × ( 22000 - 21800 )

= 14.80 × 200 = 2960 ( unfavorable )

Hence the correct answer is option (D).

6 0
3 years ago
Read 2 more answers
Most jobs are handed down from parent to child in a:
lubasha [3.4K]

Answer:

traditional economy.

Explanation:

7 0
3 years ago
An outside supplier offers to provide Factor with all the units it needs at $44.45 per unit. If Factor buys from the supplier, t
Anvisha [2.4K]

Answer:

Factor must opt to agree as well as purchase the deal from the provider. A further explanation is provided below.

Explanation:

The given problem seems to be incomplete. Find the attachment of the complete question below.

Given:

Direct material,

= $8.70  

Direct labor,

= 24.70  

Overhead,

= 43.50

Now,

If the offer is accepted, the cost per unit will be:

= 44.45 + (43.50\times 70 \ percentage)

= 44.45 + 30.45

= 74.90 ($)

Thus the above is the correct answer.

6 0
3 years ago
At the beginning of the year, Bryers Incorporated reports inventory of $6,200. During the year, the company purchases additional
Nana76 [90]

Answer:

Cost of Goods Sold = $19200

Explanation:

The cost of goods sold or COGS  is the cost of inventory that the business has sold for the period. The cost of goods sold can be calculated as follows,

Cost of Goods sold = Opening Inventory + Purchases for the year - Closing Inventory

Cost of Goods Sold = 6200 + 21200 - 8200

Cost of Goods Sold = $19200

8 0
3 years ago
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