Answer:
Sissie must report both operations separately, even though the gain in one of them does offset the loss on the other:
- selling of equipment A: reported gain (increased ordinary income) of $22,510 ($60,000 - $37,490)
- selling of equipment B: reported ordinary loss of $14,490 ($23,000 - $37,490)
The effect of both transactions is a net gain of $8,020 that will increase Sissie's ordinary income.
Explanation:
Both assets are § 1231 assets, and § 1245 allows deprecation recapture on the sale of equipment A, so the gain must be considered ordinary income. The loss on the sale of equipment B is a § 1231 loss which must be treated as an ordinary loss.
Answer:
From the information given about the contract and its execution between the two parties involved( That is, Parc and Glaze), the option 2 is most likely.
2. Glaze will win because Glaze substantially performed and Parc prevented complete performance.
Explanation:
It is stated that Glaze was hired to remodel and furnish an office suite, after a submitted plans by Glaze were approved by Parc. It was further stated that the construction and painting had been done.
Although, with Glaze purchasing minor accessories which Parc rejected because they did not conform to the plans is a breach of contract, but that can be corrected by calling Glaze to order. However, it was Parc that refused to allow Glaze to make necessary corretion and complete the project and also refused to pay Glaze any part of the contract price.
You'll earn $761.90 in the acct of the $4,000
And you'll earn $333.33 on the acct of the2,000
So, yes the first one is the answer
Social Security and Medicare benefits to elderly and retired people.
