Answer: Option "d" $280000 and $700000.
Explanation:
Option “d” is correct because the recognized gain is $280,000. Pam exchanges a building that has adjusted worth $520000 for the land which has a value of $700000. Thus, at this point, Pam is making a profit of (700000 - 520000) = $180,000. Moreover, he receives additional cash of $100,000. So, total gain by Pam is $180,000 + $100000 = $280,000. However, the tax basis of land refers to the fair market value at which it was acquired. So, it will be $700000.
Answer: $237070
Explanation:
The amount that Novak should report as its December 31 inventory will be:
Inventory in hand = $190,000
Add: Goods bought from Pelzer Corporation = $25,170
Add: Cost of goods sold to Alvarez Company = $21900
Total = $237070
The amount that Novak should report as its December 31 inventory will be $237070
Some people might reject the gospel message because they have a different opinion on the matter, they have a different religion, or they simply don't understand. People tend to reject things they don't understand.
Answer:
D. The system of exchange between people where the giver usually expects something in return.
Explanation:
Balanced reciprocity refers to a system of exchange between people where the giver usually expects something in return. It is also known as Symmetrical reciprocity.
