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
andrezito [222]
3 years ago
5

Tobin inherited 100 acres of land on the death of his father in 2020. A Federal estate tax return was filed and the land was val

ued at $300,000 (its fair market value at the date of the death). Tobin's father originally acquired the land in 1977 for $19,000 and prior to his death made permanent improvements of $6,000. What is Tobin's basis in the land
Business
1 answer:
antiseptic1488 [7]3 years ago
8 0

Answer:

$300,000

Explanation:

From the above passage, the information given is that the land was valued at $300,000 which is the fair market value price as at when Tobin's father died. What this means is that the amount of $300,000 will be Tobi's basis in the land although the land was purchased by his father at the cost of $19,000 in 1970.

Since the federal estate tax return was filed, and the value of the land was $300,000, hence his basis(Tobin) in the land would be $300,000

You might be interested in
The upward-sloping portion of the long-run average cost curve is a result of:.
iogann1982 [59]

Answer:

average cost is increasing

Explanation:

7 0
2 years ago
Recommendations for a successful pitch include all of these except:​
Inga [223]
The answer is letter a, it is because when doing a successful pitch or in order to achieve one, a person is not even required to stand behind a podium as it does not necessarily need or refer to a specific place to stand on when delivering a pitch but it is more important to show the product or service to attract the consumers.
8 0
3 years ago
A _________ is generally considered an appreciating asset because it may _________ in value over time.
jeka94

A house is generally considered an appreciating asset because it may increase in value over time. Appreciation is an increase in the value of an asset over time. The increase of the value of the house may occur for a number of reasons, including increased demand or weakening supply, or as a result of changes in inflation or interest rates. One example would be: the neighborhood became very famous, so the value of the houses there will increase, because the demand will increase.

8 0
3 years ago
Read 2 more answers
1) Why might investors prefer floating rate notes over a fixed rate bond?
sladkih [1.3K]

Answer:

These questions are incomplete since the article relating to Hologen company is not attached. However, I would answer them this way.

Explanation:

1) A floating rate bond has a shorter duration; almost zero and it has lower sensitivity to interest rates compared to a fixed rate bond.This means that the former has a lower interest rate risk. Investors tend to demand floating rate bonds when they expect future interest rates to rise because their prices would be close to their par values as their interest rates would also increase. On the other hand, fixed bond's interest rates are inversely related to their prices.

2)

For an issuing company, borrowing money floating rates terms could be riskier for cashflow management purposes . Every time interest rates increases, it means that the company would pay higher interests to lenders which could hurt its profitability. The fluctuations could also negatively affect future financial planning unlike issuing fixed rate bonds whose coupon payments are constant hence decreasing the volatility of earnings.

8 0
3 years ago
A-Z Construction Company was organized on May 1 of the current year. On May 2, A-Z Construction prepaid $18,480 to the city for
Nina [5.8K]

Answer:

Explanation:

The journal entries are shown below:

Taxes expense A/c Dr $12,320

        To Prepaid Taxes                      $12,320

(Being prepaid taxes are adjusted)

Taxes expense A/c Dr $45,000

        To Property taxes payable                   $45,000

(Being property taxes are adjusted)

The prepaid taxes are computed below:

= Prepaid taxes × (number of months ÷ total number of months in a year)

= $18,480 × (8 months ÷ 12 months)

= $12,320

The eight months is calculated from May 1  to December 31

6 0
3 years ago
Other questions:
  • When carter first moved into his neighborhood, he noticed hundreds of frogs on the roads after a rain storm. lately, carter has
    12·2 answers
  • 1st attempt Jung is willing to pay $85 for a new jacket that sells for $70. Eddie is willing to pay $65 for that same acket. Wha
    12·1 answer
  • Recommend and describe three (3) different ideas to advertise the office to the general public for Healthcare Community Office.
    13·2 answers
  • Suire Corporation is considering dropping product D14E. Data from the company's accounting system appear below: Sales $740,000 V
    13·2 answers
  • If you need to keep track of a large number of published or scheduled messages sent to a variety of social networks, hootsuite _
    12·1 answer
  • If the expected proportionate change in the nominal exchange rate, measured in units of domestic currency per unit of foreign cu
    12·1 answer
  • Escareno Corporation has provided its contribution format income statement for June. The company produces and sells a single pro
    8·1 answer
  • Discuss the causes of changes in a currency swaps value over time. Is it possible to close out a currency swap before it reaches
    10·1 answer
  • When two or more persons work together to circumvent internal control procedures and commit a fraud, this is called.
    6·1 answer
  • List three (3) Safety measures the cashier must take into consideration when doing/making a lodgment at any Financial Institutio
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!