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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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When customers buy computers at Maalik's store, he offers a service package at a discounted rate. Additionally, he has an ongoin
salantis [7]

Answer:

Impacting his clientele base with increased profitability and to extend the duration of customer relationships.

Explanation:

Maalik is focused on improving customer relationship management, impacting the profitability of existing customers and extending the duration of customer relationships by offering a service package at a discounted rate and a promotion that allows customers to trade in their old computers for new ones at much lower prices than his competitors can offer.

6 0
3 years ago
Pro forma free cash flows for a proposed project should___________.I. exclude the cost of employing existing assets that could b
Leviafan [203]

Answer:II. exclude interest expense.

III. include the depreciation tax shield related to the project.

Explanation: pro forma free cash flow is a term used to estimate the amount of inflows(revenue/income) or outflows (expenses) expected to be made in future projects and engagements of a business entity. It helps the business to plan appropriately to forestall any eventualities.

Pro forma free cash flows should exclude interest rate in its estimation and it should also include the depreciation tax shield related to the project.

6 0
3 years ago
Parc hired Glaze to remodel and furnish an office suite. Glaze submitted plans that Parc approved. After completing all the nece
seraphim [82]

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.

5 0
3 years ago
According to Orlando:_____.
Novay_Z [31]

Answer:

According to Orlando:_____.

(a) workers have obligations to, but are owed consideration by, their employers.

Explanation:

Workers are employed by their employers to carry out their obligations as per instruction.  They owe the duty of reasonable care to their employers.    They are supposed to be honest in their dealings with their employers.  Workers are also required to take safety and health measures to protect themselves and others from harm at the workplace.  For all these obligations, the employers of labor must pay adequate consideration to their workers and ensure their safety at work.

3 0
3 years ago
Giorgio Italian Market bought $4,200 worth of merchandise from Food Suppliers and signed a 90-day, 8% promissory note for the $4
anyanavicka [17]

Answer:

Dr. Cash      $4,200

Cr. Interest Income  $84

Cr. Note Receivable $4,116

Explanation:

Food Suppliers

Interest on the Note = $4,200 x 8% x 90 / 360 = $84

Amount to be recorded = $4,200 - $84 = $4,116

At the Time of Issuance the Journal Entry was

Dr. Note receivable  $4,116

Cr. Sales                    $4,116

So, the Payment of $4,200 will be made.

The Interest Income will be $84

Now the Note Receivable account will be adjusted by receiving cash and recording interest income.

5 0
3 years ago
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