Camilo’s property, with an adjusted basis of $155,000, is condemned by the state. Camilo receives property with a fair market value of $180,000 as compensation for the property taken.
a. What is Camilo’s realized and recognized gain?
b. What is the basis of the replacement property
Solved
Show answers
More tips
- C Computers and Internet Е-head: How it Simplifies Life for Users?...
- F Family and Home How to Choose the Best Diapers for Your Baby?...
- F Family and Home Parquet or laminate, which is better?...
- L Leisure and Entertainment How to Properly Wind Fishing Line onto a Reel?...
- L Leisure and Entertainment How to Make a Paper Boat in Simple Steps...
- T Travel and tourism Maldives Adventures: What is the Best Season to Visit the Luxurious Beaches?...
- H Health and Medicine Kinesiology: What is it and How Does it Work?...
- O Other How to Choose the Best Answer to Your Question on The Grand Question ?...
- L Leisure and Entertainment History of International Women s Day: When Did the Celebration of March 8th Begin?...
- S Style and Beauty Intimate Haircut: The Reasons, Popularity, and Risks...
Answers on questions: Business
- B Business (Scenario: Money Creation) Scenario: Money Creation The reserve requirement is 20%. Leroy receives $1,000 as a graduation present and deposits the money in his checking account....
- B Business The shape of the short-run aggregate supply curve is a. upsloping, because wages adjust more slowly than the price level, increasing profits and output. b. vertical, because wages...
- B Business Suppose there are only two goods in the world, shoes and wheat. If it is true that with its vast resources the U.S. could produce more wheat and shoes than Brazil than Group of...
- B Business Schnucks Supermarket promotes products like milk, eggs and other daily essentials at very low prices in order to attract consumers into their stores. This type of pricing strategy...
- B Business A company purchased land for $90800 cash. Real estate brokers commission was $4500 and $6900 was spent for demolishing an old building on the land before construction of a new...
- B Business On June 4, White Corporation issued $400 million of bonds for $386 million. During the same year, $1 million of the bond discount was amortized. In a statement of cash flows prepared...
- B Business Can i get a friend right now plz...
- B Business Analyze FOUR main problems facing by management of Toys “R” Us that cause the demise of it. (L4)...
- B Business At the beginning of the year, Execon Company had total assets of $200,000, total liabilities of $110,000, and shareholders equity of $90,000. For the year, Execon Company earned...
- B Business Precious Curls is a retail chain specializing in salon-quality hair-care products. During the year, Precious Curls had sales of $ 39 comma 300 comma 000. The company began the...
Ответ:
The correct answer for (a) is $25,000 and $0 and for option (b) is $155,000.
Explanation:
According to the scenario, the computation of the given data are as follows:
Adjusted basis = $155,000
Fair market value = $180,000
(a). Realized gain = Fair market value - Adjusted basis
= $180,000 - $155,000
= $25,000
As, fair market value is more than the adjusted basis, so there will be no recognized gain.
So, Recognized gain = $0
(b). We can calculate the basis of the replacement by using following formula:
Basis = Market value - Realized gain
= $180,000 - $25,000
= $155,000
Ответ:
The answer is "
"
Explanation:
The balance price has been
, ahead of taxation. It implies seller paid 
as well as sellers got 
whenever a 
the tax has also been applied Pay $3.50, buyer, and also get $1.25 seller.
Its seller's tax
The buyer's tax