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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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I will mark you as brainliest !!
jonny [76]

Answer:

400,000

Explanation:

7% of what number = 28,000

(0.07)(X) = 28,000

X = 400,000

(which is less than 700,000. But that makes sense because not everyone living in Michael's city is necessarily part of the labor force. Some could be kids in school, others grandparents who have retired, others people who stay at home and don't work.)

4 0
3 years ago
Read 2 more answers
Recently, beagle boutique was attempting to hire a middle manager. they were looking for an intelligent, active, and creative in
ValentinkaMS [17]

Recently, beagle boutique was attempting to hire a middle manager. they were looking for an intelligent, active, and creative individual. Beagle used the trait approach. This is further explained below.

<h3>What is the trait approach?</h3>

Generally, An individual's attributes are used as indicators of their personality in a trait-based approach.

In conclusion, Beagle Boutique recently tried to find a middle manager. They were seeking someone who was energetic, clever, and creative. Beagle used the trait approach

Read more about The trait approach

brainly.com/question/25937970

#SPJ1

3 0
1 year ago
What are the three types of economic resources? Give an example of each type of resource.
fiasKO [112]

"The three types of economic resources are also referred to as factors of production. Land (including all natural resources), Labor (including all human resources), Capital (including all man-made resources), and when you combine all of those you get production. "


8 0
3 years ago
Read 2 more answers
Departmental Overhead Rates Lansing, Inc., provided the following data for its two producing departments:
QveST [7]

Answer and Explanation:

The computation is shown below:

1. Overhead rates

For Molding Deptt

= Total Estimated overhead ÷ Total Machine hours

= $400,000 ÷ 5,000

= $80 per machine hour

For Polishing Deptt

= Total Estimated overhead ÷ Total Labor hours

= $80,000 ÷ 20,000

= $4 per machine hour

2. Overheads assigned to Form A is

= (80 × 3500) + (4 × 5000)

= $300,000

Overheads assigned to Form B is

= (80 × 1500) + (4 × 15000)

= $180,000

Now

Overhead cost per unit

Form A = $300,000 ÷ 30,000 = $10 per unit

Form B = $180,000 ÷ 50,000 = $3.6 per unit

4 0
3 years ago
After visiting several automobile dealerships, Richard selects the used car he wants. He likes its $11,500 price, but financing
aksik [14]

Explanation:

I = Prt

I = (10000)(.11)(4) = $4400

Total Cost = Down Payment + Principal Borrowed + Interest

Total Cost = 2000 + 8000 + 4400

= $14,400

Monthly Payment = (Principal Borrowed + Total interest) / Total number of payments

Monthly Payment = (10,000 + 4400) / 48

= $300

APR= (2 × n × I) / [P × (N + 1)]

APR = (2 × 12 × 4400) / [10,000 × (48+1)]

= 21.55%

3 0
3 years ago
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