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TiliK225 [7]
2 years ago
8

Mark exchanged an office building that he owned for over ten years for vacant land used by Sandy in her farming business. The of

fice building had a FMV of $3,150,000, which Mark purchased in 2010 for $1,725,000. Mark deducted $325,000 of depreciation, but because of an error, the amount of depreciation he should have taken was $480,000. Also, Mark received a $350,000 insurance reimbursement for damage to the office building, which he used to acquired equipment for his business. The office building had a $700,000 mortgage liability, which Sandy agreed to assume. The land had a FMV of $2,000,000 and cost Sandy of $1,825,000 excluding the cost improving the land with a parking lot, which cost Sandy an additional $110,000. Sandy took $40,000 of depreciation deductions on the parking lot. Additionally, Sandy also gave Mark cash of $100,000 and equipment valued at $350,000 with an adjusted basis of $300,000. Calculate Mark's basis in the vacant land after the transaction. How much gain or loss did Mark defer? Explain your answer including ALL components in the calculation of you answer. What rule did you rely on in determining your answer? Show all calculations Determine Sandy's recognize gain or loss. Also, what is her basis in the building after the transaction? Explain your answer and show all calculation.
Business
1 answer:
hram777 [196]2 years ago
3 0

Answer:

h

Explanation:

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3 years ago
Turkey Corp. provides services to customers on account for $3,000. Recording this transaction will include a __________.
Luden [163]

Answer:

e) Credit to Revenue

Explanation:

The services provided to customers will be an increase of revenue and an increase in revenues is a credit transaction.

Since the question does not mention that the services were billed therefore the accounts receivable will not be increased till it is billed and thus option a) is not applicable.

The other options are not relevant since there is no cash collection involved, and no liabilities involved.

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2 years ago
What are the two related, but distinct processes involved in approach-oriented emotion-focused coping??
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Emotional Processing and Emotional Expression

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In order to respond to emotional situations, two approaches are involved in approach-oriented emotion-focused coping:

<em>i) Emotional processing: </em>reflects how individuals process stress related events and move past them. In the event of re-occurrence of the events, the individuals will not be as disrupted as when the instance first occurred.

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3 years ago
In a research report, the action statements that will help solve the problem at hand through the creation of a competitive advan
Crank

Answer:

A. recommendations

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One of the most important parts of research reports, business case studies or business plans is the recommendation part.

<em>Research reports</em> are usually made by financial analysts, usually in order to provide an idea for lucrative investment or just to assess a particular financial instrument, stock or currency.

After presenting the summary and conducting proper analyses comes the recommendation section. In this section, <u>strategic solutions and action plans are presented</u>, given that they are the rational output of the needed analyses and prerequisites related to research.

Every recommendation represents an actionable solution that should be implemented or pursued in order to gain some benefits. Here are some recommendations:

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Hence, the amount that should be pay to buy the television should be between $100 and $105.

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