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
mamaluj [8]
3 years ago
6

Dean exchanges a business storage facility with a $120,000 adjusted basis for $40,000 cash and a parking lot with a $140,000 FMV

. What is the amount of gain which Dean recognizes on the exchange
Business
1 answer:
Mariulka [41]3 years ago
5 0

Answer:

$40,000

Explanation:

This transaction lacks commercial substance, therefore, Dean should only recognize the boot (cash received) as gain from this transaction. The adjusted basis for Dean's "new" parking lot is $120,000, the same adjusted basis as the business storage facility.

This happens because the boot was not more than 25% of the value of the total consideration received by Dean (cash + parking lot). If the boot is 25% or more, then the sale must be reported as a cash sale.

You might be interested in
What is a disadvantage of Maria's staying home with her children until the youngest is of school age?
Shkiper50 [21]

<u>Explanation:</u>

Maria may not be able to retire at an earlier age. This is because she sacrifices here years of employment by not being economically productive. Her husband has to meet the family expenses single-handedly through his income. Lot of money is spent on child care so they will not be able to save money for their retirement.

To take an early retirement one should have saved quite an amount of money. This will increase the working years for her and her husband.

4 0
4 years ago
Kangaroo Autos is offering free credit on a new $10,000 car. You pay $1,000 down and then $300 a month for the next 30 months. T
babunello [35]

Answer:

8,938.0168 present value of the car in Kangaroo Autos.

Explanation:

We will calculate present value of annuity of $300 per month during 30 months at 0.83% discount rate:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C $  300

time       30 months

rate         0.0083 per month

300 \times \frac{1-(1+0.0083)^{-30} }{0.0083} = PV\\

PV $7,938.0168

We will add the 1,000 down payment

7,938.0168 + 1,000 = 8,938.0168 present value of the car in Kangaroo Autos.

4 0
4 years ago
Read 2 more answers
If there r 15 dollers on a table 5 people grab 3 how many are left
NISA [10]

Okay, so we start out with $15. Then 5 people take $3. All we have to do is <u>multiply</u> 5 by 3

5 x 3 = 15

Therefore, there will be <u>no</u> money left.


Hope this helps you

Brainliest would be appreciated

-AaronWiseIsBae

8 0
3 years ago
Read 2 more answers
The original marketing strategy of McDonald's in BrazilSelect one:a. promoted a beer with lunch.b. completely changed the menu t
MAXImum [283]

Answer:

c. tried to Americanize Brazilian eating habits

Explanation:

McDonald's is an American brand that popularize the eating burgers, that represents the american culture.

McDonald's has a culture of selling american and the country version of burgers where the outlet is located. But it do not sell the local dish in its food chain.

Accordingly in Brazil also the McDonald's was selling huge variety of burgers and was trying to create an American habit among the people of Brazil.

Thus, it was developing the eating habits of the people of Brazil in American way.

8 0
4 years ago
Most child care providers will never find themselves caring for a child with asthma.
madam [21]

The correct answer is False

Explanation:

Child care providers are usually professionally prepared individuals who take care of children, this includes teachers, babysitters, nannies, counselors, etc. Additionally, child care providers can work in specific institutions such as schools or take care and supervise children in the child's home. In most cases, being a child care provider implies dealing with different children and therefore different personalities, needs, and conditions.

Due to this, it is common child care provides find themselves caring for a child with conditions such as measles, food allergies, bronchitis, and even asthma. In the case of asthma, this is can be found in around 10% of children, and therefore it is not extremely uncommon child care providers had to take care of a child with asthma.

4 0
3 years ago
Other questions:
  • Michigan Bank lends Detroit Furniture Company $110,000 on December 1. Detroit Furniture Company signs a $110,000, 9%, 4-month no
    12·1 answer
  • Lucky Louie just inherited $50,000 from his great aunt, has $1,500 in his checking account, owns a car with a value of $8,000, a
    15·1 answer
  • Do you think the interest on payday loans is too high or just right? should christians charge poor people interest on loans
    8·1 answer
  • Which of the following most accurately describes the difference between goals and objectives? Goals are broad, long-term expecta
    11·2 answers
  • Cross-border acquisitions are primarily made to: Group of answer choices overcome barriers to entry in another country. reshape
    10·1 answer
  • Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credi
    12·1 answer
  • Why Do Organizations not change in response to environmental pressures?​
    5·1 answer
  • One reason for the wave of FDI into the United States by Japanese auto companies was partly in response to
    10·1 answer
  • Applying ExcelData Unit sales 10,000 unitsSelling price per unit $70 per unitVariable expenses per unit $42 per unitFixed expens
    15·1 answer
  • The Income Statement and Balance Sheet can tell you your return on equity: profit divided by equity. Last year you made a profit
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!