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bulgar [2K]
2 years ago
13

Jim paid $250,000 for an apartment building with a fair market value of $260,000. At the time of the sale, the building was appr

aised at $225,000. For income tax purposes, what would be the basis of the apartment building
Business
1 answer:
Nimfa-mama [501]2 years ago
4 0

The amount of $225,000 will be the would be the basis of the apartment building for income tax purposes.

Basically, the cost basis is the purchase cost which is $225,000.

The fair market value and appraised cost does not have anything to do with tax basis for income tax purposes.

In conclusion, the amount of $225,000 will be the would be the basis of the apartment building for income tax purposes

Read more about Cost basis

<em>brainly.com/question/25899244</em>

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Select all the correct answers.
Tems11 [23]

I believe the answer is:   goodwill with trade partners

Protectionism refers to the act of protecting local businesses by imposing tariff or quota to the goods that come from another countries. When a country impose these, the other countries would usually retaliate by doing the same thing for the goods from our country (Decrease in goodwill)

8 0
2 years ago
Read 2 more answers
Albright Motors is expected to pay a year-end dividend of $3.00 a share (D1 = $3.00). The stock currently sells for $30 a share.
Viefleur [7K]

Answer: 14.4%

Explanation: The G that we are computing in this question is the sustainable growth rate, it is the growth rate that a company can attain and maintain without any problem.

we know that,

growth = (retention ratio)*(return on equity)

growth = (1- dividend payout ratio)*(return on equity)

growth\:=\:\left ( 1-\frac{3}{30} \right )*\left ( 0.16 \right )

growth = 14.4%

3 0
2 years ago
"distinguish between an absolute advantage and a comparative advantage. cite an example of a country that has an absolute advant
xxTIMURxx [149]

Answer:

Distinguish between an absolute advantage and a comparative advantage is discussed below.

Explanation:

Absolute advantage and a comparative advantage

  • Absolute advantage concentrates on the marginal cost of reproduction of an asset whereas comparative advantage characteristically concentrates on the opportunity cost of production.
  • Trading judgments based on comparative advantage between nations are forever respectively advantageous.

5 0
2 years ago
Identify and explain the four primary types of taxes that businesses pay
DENIUS [597]

Answer

Hi,

They are; income tax, self-employment tax, employment tax and Excise tax

Explanation

All businesses are expected to file income tax return on yearly basis. Some pay taxes as they earn the income. The self-employment tax is imposed to contribute to social security and health care cover for a person who works for him or herself. Employment taxes are a mandatory to employers who are required to pay it to cover social security and healthcare taxes and federal unemployment tax for the workers. Some businesses are levied excise tax depending on the goods sold or manufactured, the type of business operation and the type of equipment and products used.

Best wishes!

3 0
3 years ago
If you sell only one or just a few items your business is
Harlamova29_29 [7]

that means simply your a business man seller

8 0
3 years ago
Read 2 more answers
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