hilljade45
19.10.2019 •
Business
Joyce’s office building was destroyed in a fire (adjusted basis of $350,000; fair market value of $400,000). of the insurance proceeds of $360,000 she receives, joyce uses $310,000 to purchase additional inventory and invests the remaining $50,000 in short-term certificates of deposit. she received only $360,000 because of a co-insurance clause in her insurance policy. what is joyce’s recognized gain or loss?
$0
$10,000 loss
$10,000 gain
$40,000 gain
none of the above
Solved
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Ответ:
$10,000 gain
Explanation:
The computation of recognized loss or gain is shown below:
= Insurance proceeds amount - adjusted basis
= $360,000 - $350,000
= $10,000 gain
So, it would have a recognized gain of $10,000 by considering the amount of insurance proceed and adjusted basis. We ignore all other information which is given in the question
Ответ:
x=13
Step-by-step explanation:
C is the midpoint of line BD, BC=CD. 6x-16=4x+10, x=13