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Oliga [24]
3 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]3 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

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Answer:

A. 4.3

B. 2.4

Explanation:

(a) Calculation to determine ratio of fixed assets to long-term liabilities

Using this formula

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Let plug in the formula

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Ratio of fixed assets to long-term liabilities=4.3

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Using this formula

Ratio of liabilities to stockholders' equity=Liabilities/Total stockholders’ equity

Let plug in the formula

Ratio of liabilities to stockholders' equity=$600,000 /$250,000

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3 years ago
The Assembly Department started the month with 25,300 units in its beginning work in process inventory. An additional 310,300 un
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Answer:

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