Answer:
b. $2,300 gain
Explanation:
The computation of the amount of gain or loss on the sale is shown below:
But before that the net book value is
Net book value of the equipment is
= Cost of an equipment - accumulated depreciation
= $100,700 - $68,800
= $31,900
Now
Gain (Loss) on the sale is
= Sale amount - Net book value of the equipment
= $34,200 - $31,900
= $2,300 gain
Hence, the correct option is b.
Answer:A. Less than $1000.00billion
Explanation:An increase in total income will increase agegrate demands but not to the level of the increase in income nor more than it due to the marginal propensity to save.
Answer:
a. Marketable securities
Explanation:
A(correct one). Capital assets are able to cover all marketable securities unless the taxpayer becomes a dealer.
B -incorrect. The inventory is not such as capital although it is asset. It is fixed asset type
C-incorrect. The assets which are depreciable must be excluded from capital assets group. Because they will be fixed ones again.
D-incorrect. Accounts receivable of a business are excluded from the definition of capital assets. because they are the other section of accounting elements and not considered as asset at all.
Answer:
C. Tec must capitalize the transer tax and treat it as a ney asset placed in service on the date the property is contributed.
Explanation:
A.- Is incorrecto because none of the start espenses can be deducted if the total incurred exceeds $55,000
B.- is incorrect because the partnership steps into the partner´s shoes with respecto to depreciation of contributed probperty.
d.- Is incorrect because the first $5000 of organizational costs may be deducted if total organizational costs are less than $50,000.