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andrezito [222]
3 years ago
6

Missy, age 30, has owned her principal residence (adjusted basis of $225,000) for five years. During the first three years of ow

nership, she occupied it as her principal residence. During the past two years, she was in gradu- ate school and rented the residence. After graduate school, Missy returned to the same location where she previously worked. At this point, she purchased another residence for $400,000 and listed her old residence for sale at $340,000. Due to a slow real estate market, 11 months later Missy finally receives an offer of $330,000.
a. What is Missy’s recognized gain if she immediately accepts the $330,000 offer (i.e., 11 months after the listing date)? Selling expenses are $20,000.
b. What is Missy’s recognized gain if she rejects the $330,000 offer and accepts another offer of $340,000 three months later (i.e., 14 months after the listing date)?
c. Advise Missy on which offer she should accept (assume that she is in the 28% tax bracket).
Business
1 answer:
vlada-n [284]3 years ago
7 0

Answer:

The answer to the following question is attached within a word file.

Download docx
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What is an incentive?
77julia77 [94]

Answer:

it acts as a stimulus to a market

Explanation:

an incentive is the extra money given to an employee for the constant hard work done,this can therefore act as a stimulus.

I hope this helps

8 0
2 years ago
A customer holds 100 shares of ABC Corp $100 par convertible preferred stock convertible at a 10 to 1 ratio. If ABC declares and
Leviafan [203]

Answer:

B. 100 shares of ABC preferred stock

Explanation:

Shares are ownership stakes of a company that are given out to individuals who contribute to capital base of a company.

Preference shares are those whose owners recieve preference in payment of dividends, a fixed dividend is paid to them.

Ordinary shares recieve less preference when dividend is paid, usually coming last in divedend payment.

In this scenario ABC has decided to pay 10% stock dividend. This will be paid to ordinary share holders.

So the person with 100 preference shares will have 100 preference shares

10% of par value of $100 is 0.1 * 100= $10

Number of shares are 100 so the value is now 100 * $10 = $1,000

Since the conversion rate of preference to ordinary shares is 10:1

Number of preference shares= 1,000 ÷ 10= 100 preference shares

5 0
3 years ago
Tonto Company purchased property for $125,000. The property included a building, equipment and land. The building was appraised
velikii [3]

Answer:

The cost allocated to the building is $ 62,068.97  

Explanation:

The total appraised cost for the components of the property purchased=$72,000+$50,000+$23,000=$ 145,000.00  

The cost allocated to the building in the accounting records is the cost of the property multiplied by the building appraised value of $72,000 while dividing by the total of the  appraised value of $145,000

cost allocated to building=$125,000*$72,000/$145,000=$ 62,068.97  

3 0
2 years ago
What are the factors of production required by jewellery shop to operate its business
Blababa [14]

Answer:

See explain

Explanation:

There are 4 factors of production, land labor entreprenuership and capital.

The land of the jewellery shop would be the actual land that the store is on itself. The labor of the shop would be any of the work that any employees are doing. The capital would be any goods or machinery that is used in the store like cash registers, or bulletproof glass to protect their belongings, or any tools that the store uses to help make their jewellery etc. The last and final factor entrepreneurship might be for example the owner of the store, who manages the other 3 factors to bring a profit to the store.

4 0
2 years ago
(ङ) मुहावरे का अर्थ लिखकर वाक्य प्रयोग करें-<br>चाव होना, आश्चर्य की सीमा न रहना ।​
DerKrebs [107]

Answer:

Are Luke some good friends

Explanation:

In my heart

8 0
2 years ago
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