Anybody do FLVS? If so do you think its boring that you don't see anybody and you can't interact. :|

On November 4, 2018, Blue Company acquired an asset (27.5-year residential real property) for $200,000 for use in its business.

sleet_krkn [62]

Answer:

A. $191,818

B. $303

C. Loss; $11,515

Explanation:

A. Calculation to determine what The adjusted basis of the asset at the end of 2019 is

Cost of asset $200,000

Less Greater of allowed and allowable cost recovery:

2018 $910

2019 $7,272 ($8,182)

($910+$7,272=$81,82)

Adjusted basis of the asset at the end of 2019 $191,818

($200,000-$8,182)

Therefore the Adjusted basis of the asset at the end of 2019 will be $191,818

B. Calculation to determine what The cost recovery deduction for 2020 is

Cost recovery deduction for 2020= ($200,000 x .03636 x 0.5 / 12)

Cost recovery deduction for 2020=$303

Therefore The Cost recovery deduction for 2020 is $303

C. Calculation to determine what The____on the sale of the asset in 2020 is

Based on the information given we would be using 0.3636 as the percentage for 27.5-year assets.

Cost of asset $200,000

Less Greater of allowed and allowable cost recovery:

2018 $910

2019 $7,272 ($8,182)

($910+$7,272=$81,82)

Adjusted basis of the asset at the end of 2019 $191,818

($200,000-$8,182)

Less Cost recovery for 2020 $303

($200,000 * .03636 * 0.5 / 12)

Basis on date of sale $191,515

($191,818-$303)

Loss on sale of asset ($11,515)

($180,000 – $191,515)

Therefore The LOSS on the sale of the asset in 2020 is $11,515

6 0

2 years ago

which costs of inflation could the government reduce without reducing inflation? a. arbitrary redistributions of wealth b. shoel

Ilya [14]

Answer:

A is the correct answer.

Explanation:

Inflation causes an arbitrary redistribution of wealth and income. Unexpected inflation is responsible for it. The redistribution of income is caused because the wages and salaries increase rapidly the prices. and other wages and salaries slowly than the price level. The increase in the prices of some assets more rapidly than the price level while the asset prices increase slower than the price level causes the redistribution.

4 0

3 years ago

What is an externality? how do externalities relate to socially optimal quantity?

Elodia [21]

An externality in business or economics is where an industrial activity has an unexpected side effect which does not figure in the cost of the goods and services involved. For example, I worked many years at a large mine. Just the existence of the mine there meant it was a no-hunting area so a side effect was that the moose used it as a refuge during hunting season which as a side effect was beneficial to the moose (and deer). Another example is that we used to crush mine rock for the haulroads for winter traction. As a result, it was found that the fines from this were concentrated with copper values so were put in the mill for processing-an unexpected outcome.

7 0

2 years ago

The importance of formal planning in organizations has grown dramatically. Companies have found that they can achieve competitiv

Neko [114]

Explanation:

Strategic planning is important to an organization because it provides a sense of direction and outlines measurable goals. Strategic planning is a tool that is useful for guiding day-to-day decisions and also for evaluating progress and changing approaches when moving forward.

8 0

2 years ago

A market for existing financial securities that are currently traded among investors is called the ________ market. super fundam

Nadya [2.5K]

A market for existing financial securities that are currently traded among investors is called the Secondary market.

A secondary market is a market for the purchase and sale of existing securities or other assets. They differ from primary markets, where the assets were created. Generally, most investors will only trade on secondary markets.

Transactions in the secondary market are undertaken with other investors rather than the security issuer. The procedure is comparable to buying products from the classifieds or a used car from a dealership rather than the manufacturer.

Stocks and bonds purchased in a retirement plan or through a brokerage account, for example, are traded on secondary markets.

Assume you have two portfolios: one through an employee stock ownership plan and the other through a discount brokerage. The main market transaction occurs when you purchase stock directly from the corporation, like in the first plan. It is a secondary market transaction when you buy in a discount brokerage account through stock exchanges.

Learn more about Secondary Markets here:

brainly.com/question/17168396

#SPJ4

8 0

2 years ago