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Alenkasestr [34]
3 years ago
11

Charlotte purchases a residence for $105,000 on April 13, 2010. On July 1, 2018, she marries Howard and they use Charlotte's hou

se as their principal residence. On May 12, 2020, they sell their home for $390,000, incurring $20,000 of selling expenses, and they purchase another residence costing $350,000. What is their realized and recognized gain?
Realized Recognized
a. $265,000 $15,000
b. $265,000 $45,000
c. $265,000 $ 0
d. $285,000 $65,000
e. $285,000 $ 0
Business
1 answer:
Maru [420]3 years ago
6 0

Answer: A. $265,000 $15,000

Explanation:

Their realized and recognized gain will be calculated as:

Realized gain will be gotten as:

= Sale value of home - Purchase value of home - selling expenses

= $ 390,000 - $105,000 - $20,000

= $265,000

Also, the recognized gain equals to $15,000. Therefore, the correct option is A "$265,000 $15,000".

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Blue Point Company is formulating its marketing expense budget for the month of September. Sales in units for August amounted to
Anna007 [38]

Answer:

See below

Explanation:

Computation of estimated cash payment expense is seen below

Variable expenses

Sales in unit for August 4,000

Sales in unit September 4,000 × 110% = 4,400

Total variable expense 4,400 × $0.15 = $660

Fixed expense per quarter

Salaries $5,000 × 3 = $15,000

Depreciation $1,500 × 3 = $4,500

Total = $19,500

Budget total = $20,160

Estimated cash payment = $20,160 - $4,500 = $15,660

8 0
3 years ago
Scenario: Economic hardship has befallen the country after a world war in the year 2055. Thankfully, we are victors. However the
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Answer:

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Explanation:

8 0
2 years ago
Studies indicate that the price elasticity of demand for cigarettes is about 0.4. A government policy aimed at reducing smoking
IrinaVladis [17]

Answer:

(B) 40%

Explanation:

↓Q / ΔPrice = Price-elasicity

The price elasticity is the relationship between a change in price with the quantity demanded of a certain good assuming, other factor remains constant.

ΔPrice  = (P0 - P1)/((P0 + P1)/2) = (2 - 6)/((2+6)/2) = 4/4 = 1

We know that price elasticity is 0.4

Now we can solve for the change in the quantity demanded:

↓Q/ 1 = 0.4

↓Q = 0.4 x 1 = 0.40 = 40%

7 0
3 years ago
How much does a plumber charge to replace a toilet?.
timurjin [86]
Toilet installation costs range from $224 to $531, with the national average at $372. Plumbers can charge anywhere from $65 to $250 per hour for labor costs.
4 0
2 years ago
"You save $3,260.00 in a savings account earning a 3.55% APR compounded monthly. How much is the total interest earned by the en
sammy [17]

Answer:

$ 29.018 ( approx )

Explanation:

The amount formula in compound interest,

A=P(1+r)^t

Where,

P = principal amount,

r = rate per period,

t = number of periods,

Here, P = $ 3260.00,

Since, the amount is compounded monthly,

So, the number of periods in 3 months, t = 3,

Also, annual rate = 3.55 % = 0.0355,

So, the rate per month, r = \frac{0.0355}{12}  (∵ 1 year = 12 months)

Thus, the amount after 3 months,

A=3260(1+\frac{0.0355}{12})^3=3289.01817638\approx 3289.018

Hence, the total interest earned,

I = A - P =3289.018 - 3260 = $ 29.018

3 0
3 years ago
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