1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Oliga [24]
2 years ago
6

Douglas owns rental property that he bought several years ago for $250,000. He has taken depreciation on the house in the amount

of $35,000 since buying it. He sells it in 2020 for $290,000. His selling expenses are $12,000 for the year. What was Bob's realized gain on the sale?
a. $77,000.
b. $63,000.
c. $18,000.
d. $53,000.
Business
1 answer:
Ket [755]2 years ago
7 0

Answer:

Gain= $63,000

Explanation:

<u>First, we need to calculate the book value:</u>

<u></u>

Book value= purchase price - accumulated depreciation

Book value= 250,000 - 35,000

Book value= 215,000

<u>Now, the gain or loss from the sale:</u>

Gain/loss= selling price - book value - selling expense

Gain/loss= 290,000 - 215,000 - 12,000

Gain= $63,000

You might be interested in
Jose wants to find out how many men wear bright colored ties. Which
sergey [27]

Answer:

survey

Explanation:

6 0
3 years ago
Raymond Chandler wrote classic American detective stories. By always using certain roles for his characters and props that were
OleMash [197]

Answer:

Cultural formula

Explanation:

Cultural formula can be described as a situation there is tend to a consistent occurrence of certain roles and props in a series of media events.

Cultural formula can be employed in a novel through the use of certain roles for characters and props that go along with the genre.

Therefore, Chandler's novels followed a cultural formula.

8 0
3 years ago
A division has the following data: Sales $320,000, Variable costs $200,000, and Fixed costs $140,000. If the division were elimi
pashok25 [27]

Answer:

Effect on income= $120,000 loss

Explanation:

Giving the following information:

Sales $320,000

Variable costs $200,000

Fixed costs $140,000.

None of the fixed costs are avoidable. Therefore, they shouldn't be taken into account to make the decision.

Effect on income= Sales - varaible cost

Effect on income= 320,000 - 200,000= $120,000 loss

4 0
3 years ago
The George Company has a policy of maintaining an end-of-month cash balance of at least $37,000. In months where a shortfall is
amid [387]

Answer:

  1. $140
  2. $14,140

Explanation:

1. First find the net amount amount the company borrowed in April:

= Cash balance to be maintained + Loan repayment - Budgeted end of April balance

= 37,000 + 1,000 - 24,000

= $14,000

Interest = 14,000 * 12%/ 12 months

= $140

2. Financing effect:

= Amount borrowed + Interest

= 14,000 + 140

= $14,140

6 0
3 years ago
Jasmine started a new business in the current year. She incurred $18,000 of start-up costs. How much of the start-up costs can b
liq [111]

Answer:

$5,000

Explanation:

According to the Internal Revenue Service, the amount of deduction for startup costs would be limited to $5,000 if the startup costs are $50,000 or less

However, if the start-up costs were more than $50,000, the deduction would be decreased by the dollar amount.

Since in the given scenario, the $18,000 is the startup cost so she is eligible for the deduction of $5,000

5 0
3 years ago
Other questions:
  • Agency relationships are normally consensual, coming about through voluntary consent and agreement between the parties. a. True
    7·1 answer
  • Which one of the following statements contains a metaphor
    13·2 answers
  • Rogers suggested that ideas are diffused through the market in systematic stages. During the ________ stage the customer decides
    6·1 answer
  • Artifacts reflecting values of an organization include Select one: a. Mission statements b. An office layout that includes open
    9·1 answer
  • When the businesses within an organization share some resources and technologies and each business generates less than 40 percen
    13·1 answer
  • Budgeted sales for the month at 4,600 units. Budgeted variable selling and admin expense is $7.30 per unit. Budgeted fixed selli
    8·1 answer
  • Atlas Corporation reported the following earnings per share information in its current annual report. The company has only one c
    13·1 answer
  • Please answer this question...
    11·2 answers
  • Advances in technology like the creation of cheap, lightweight laptops has allowed workers to work from almost anywhere. Please
    6·1 answer
  • ARMs help lenders combat unanticipated inflation changes, interest rate changes, and a maturity gap.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!