Answer:
$163,000
Explanation:
New adjusted basis for Carol's property will be
the Beginning basis plus capital gain minus depreciation
=$312,000 + 34,000 - $ 80,000
=$346,000 -$80,000
=$266,000
The net amount realized from the sale is
Selling cost minus closing costs
= $450,000 -$21,000
=$429,000
The capital gain will be the amount received - new adjusted basis
=$429,000 - 266,000
=$163,000
Answer:
1. $1,700,000
2. $250,000
3. $1,450,000
Explanation:
Given that,
Depletion for each ton of ore mined = $2
Ore mined during 2016 = 850,000 tons
Ore sold during 2016 = 725,000 tons
1. Accumulated depletion:
= Ore mined during 2016 × Depletion for each ton of ore mined
= 850,000 tons × $2
= $1,700,000
2. Inventory:
= (Ore mined during 2016 - Ore sold during 2016) × Depletion for each ton of ore mined
= (850,000 tons - 725,000 tons) × $2
= 125,000 tons × $2
= $250,000
3. Cost of goods sold:
= Ore sold during 2016 × Depletion for each ton of ore mined
= 725,000 tons × $2
= $1,450,000
Answer:
The bond will not be called.
Explanation:
The yield to maturity (YTM of, is the internal rate of return (overall interest rate) earned by an investor who buys the bond today at the market price, assuming that the bond is held until maturity, and that the principal payments are made on schedule, it is equal to the current price of the bond.
YTM equals the expected rate of return under certain assumptions like the bond will not be called.
Answer:
Cash $1,050 (debit)
Accounts Receivable :Sun City Kiwanis $1,050 (credit)
Explanation:
When Kiwanis makes a partial payment to settle their account, in Trails Ends records, we recognize (1) an the increase in the assets of cash and (2) recognize a decrease in the assets of accounts receivable.
Answer:
295 units
Explanation:
The cost -volume-profits CVP concepts calculate the breakeven point by dividing fixed costs by the contribution margin per unit.
i.e., Breakeven point = Fixed cost/ contribution margin per unit.
For this company,
Fixed costs are $177,000
Contribution margin per unit
= selling price - variable costs.
=$1250 -$650
=$600
Breakeven point = $177,000 / $600
=295 units