Glendale Company traded land with a value of $29,500 and a tax basis of $18,000 for land in a different location valued at $27,500. To equate the value of the property exchanged, the other party also paid Glendale $2,000 cash. All Like kind exchange criteria was met. What is Glendale's recognized gain on the exchange? None of the choices are correct.
a. $2,000
b. $0.
c. $29,500
d. $27,500
Answers
The recognized gain is the amount by which the money received exceeds the adjusted tax basis of the property given up. In this case, the recognized gain is zero.
In a like-kind exchange, the adjusted tax basis of the property acquired is equal to the adjusted tax basis of the property given up, and the money received in the exchange is used to decrease the adjusted tax basis of the property acquired, not to determine gain. Therefore, in this case, the recognized gain is zero.When a company trades property with a value of $29,500 and a tax basis of $18,000 for land in a different location valued at $27,500, Glendale Company has no recognized gain on the exchange. All the like-kind exchange criteria were satisfied, and the other party paid Glendale $2,000 cash to make up for the difference in property value.To find out how much Glendale's recognized gain on the exchange is, the money received must be subtracted from the adjusted tax basis of the property given up. In a like-kind exchange, the adjusted tax basis of the property given up equals the adjusted tax basis of the property received. The money received in the exchange is used to decrease the adjusted tax basis of the property acquired, not to determine gain. As a result, the recognized gain on the exchange is zero dollars.
Therefore, Glendale's recognized gain on the exchange is $0.
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Related Questions
what is 10+10 im having troubles help
Answers
Answer:
20
Explanation:
Simple
10 + 10 = 20
Answer:
20 lolbajahajwbwiqbqn
"Which of the below investments is considered to provide the
investing entity with significant influence according to IPSAS 36
'Investments in associates and Joint Ventures'?
Answers
The investment that would be considered to provide the investing entity with significant influence according to IPSAS 36 would be "An equity investment representing 30% of the voting power in an entity.
According to IPSAS 36, "Investments in Associates and Joint Ventures," an investment is considered to provide the investing entity with significant influence if it has the ability to participate in the financial and operating policy decisions of the investee but does not have control or joint control over those policies.
Therefore, among the options you mentioned, the investment that would be considered to provide the investing entity with significant influence according to IPSAS 36 would be "An equity investment representing 30% of the voting power in an entity." This level of ownership typically indicates significant influence but falls short of control or joint control over the investee's financial and operating policies.
According to IPSAS 36, "Investments in Associates and Joint Ventures," an investment is considered to provide the investing entity with significant influence if it has the ability to participate in the financial and operating policy decisions of the investee but does not have control or joint control over those policies.
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An example of a risky short term investment strategy is
Answers
Answer:
stocks are unpredictable and can be considered a risky short term investment, but if it goes well it will be considered a good risky investment strategy
Explanation:
What is the main difference between a market and a command economy?
Answers
Answer:
Market economies utilize private ownership as the means of production and voluntary exchanges/contracts. In a command economy, governments own the factors of production such as land, capital, and resources. Most nations operate largely as a command or market economy but all include aspects of the other.
Politics is sort of like a game. And the best gamer is great at manipulating the rules.
Answers
Politics is about making agreements between people so that they can live together in groups such as tribes, cities, or countries. In large groups, such as countries, some people may spend a lot of their time making such agreements.
suppose you are an analyst for the coca-cola company. an individual's inverse demand for coca-cola is estimated to be p
Answers
As an analyst for the Coca-Cola company, if an individual's inverse demand for Coca-Cola is estimated to be p, the would be that the individual's demand for Coca-Cola is inversely related to the price.
This means that as the price of Coca-Cola increases, the individual's demand for it decreases, and vice versa. In economics, inverse demand refers to the relationship between price and quantity demanded. When the price of a good or service increases, consumers tend to demand less of it.
In the case of Coca-Cola, as the price of a can or bottle of Coca-Cola increases, the individual's demand for it would decrease. Conversely, if the price decreases, the individual would likely demand more of it. In conclusion, the inverse demand for Coca-Cola means that the individual's demand for it is influenced by its price. When the price is high, the demand is low, and when the price is low, the demand is high. This relationship is consistent with the law of demand, which states that as the price of a good increases, the quantity demanded decreases.
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Accounts Payable is a(n) ______ account and has a normal ______ balance. A. liability; debit. B. asset; debit. C. asset; credit. D. liability; credit.
Answers
Option D. liability; credit. Accounts Payable is a(n) LIABILITY account and has a normal CREDIT balance.
This is because when money is owed, the company has a liability to pay the money back to the creditor. Normal Balance of Accounts PayableAccounts Payable is a type of liability account, which is used to record money owed to creditors of the business. A liability is a debt owed to another person or entity and is typically recorded with a credit entry in the company's general ledger. This means that the normal balance of an Accounts Payable account is a credit. This is because when money is owed, the company has a liability to pay the money back to the creditor. Therefore, the normal balance of Accounts Payable is a credit.
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definition of parternship
Answers
Answer:
A partnership is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations
profit is the only
Organizational objectives of the business.Do you agree
Answers
Explanation:
I agree because without profit what's the use of the business
income from operations for division l is $250,000, total service department charges are $400,000, and operating expenses are $2,750,000. what are the revenues for division l? a.$3,400,000 b.$3,000,000 c.$2,750,000 d.$650,000
Answers
Correct Option is A. The revenues for division L will be $3,400,000.
The computation of the revenue is shown below;
Income from operations = Sales revenue - operating expense - total service department charges
$250,000 = Sales revenue - $2,750,000 - $400,000
So, the sales revenue is
= $3,150,000 + $250,000
= $3,400,000
Hence, the sales revenue is $3,400,000
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Please help
9. Describe preventing/controlling risk in relation to how businesses deal with each of the
following:
a. Safety-
b. Security-
c. Employee incompetence-
d. Product selection-
e. Credit-
f. Changes-
g. Weather extremes-
Answers
a. Safety - Businesses can prevent and control risks related to safety by implementing safety protocols and guidelines, providing adequate training to employees, regularly inspecting equipment and facilities, and promptly addressing any safety concerns.
b. Security - Businesses can prevent and control risks related to security by implementing access control measures, using security cameras and alarms, regularly reviewing and updating their security policies, and training employees on how to identify and respond to security threats.
c. Employee incompetence - Businesses can prevent and control risks related to employee incompetence by providing thorough training and development programs, setting clear performance expectations, and regularly monitoring employee performance and providing feedback.
d. Product selection - Businesses can prevent and control risks related to product selection by conducting thorough research on products, identifying potential risks and liabilities associated with them, and regularly reviewing and updating their product selection policies.
e. Credit - Businesses can prevent and control risks related to credit by establishing credit policies and procedures, conducting credit checks on customers, setting credit limits, and regularly monitoring accounts receivable.
f. Changes - Businesses can prevent and control risks related to changes by conducting thorough risk assessments before implementing any changes, communicating changes to stakeholders, establishing contingency plans, and regularly reviewing and updating their change management policies.
g. Weather extremes - Businesses can prevent and control risks related to weather extremes by implementing weather emergency protocols, regularly monitoring weather forecasts, having emergency supplies on hand, and regularly reviewing and updating their weather emergency plans.
\( \: \)
Preventing and controlling risk in business involves implementing various strategies for different aspects such as safety, security, employee competence, product selection, credit, changes, and weather extremes.
Explanation:Preventing/Controlling Risk in BusinessSafety: Businesses can prevent safety risks by implementing safety measures such as providing proper training, enforcing safety protocols, and conducting regular inspections.Security: Businesses can control security risks by installing security systems, implementing access control measures, and conducting background checks on employees.Employee incompetence: Businesses can prevent employee incompetence risks by providing comprehensive training programs, establishing clear performance expectations, and conducting periodic performance evaluations.Product selection: Businesses can control product selection risks by conducting thorough market research, partnering with reputable suppliers, and performing product testing.Credit: Businesses can prevent credit risks by setting strict credit policies, conducting credit checks on customers, and implementing effective collection procedures.Changes: Businesses can control risks associated with changes by implementing change management strategies, communicating effectively with stakeholders, and conducting impact assessments.Weather extremes: Businesses can prevent or mitigate risks associated with weather extremes by implementing weather monitoring systems, having emergency response plans in place, and investing in appropriate insurance coverage.Learn more about Risk management in business here:https://brainly.com/question/33515955
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write the short note on durable and non durable materials
Answers
Example of how a marketer might use specific customer and product information from a database to plan future marketing activities.
Answers
Answer: How can database driven marketing communication programs help personalize interactions with customers? It can be used to create unique marketing programs for customer clusters. Data can be used to develop communications aimed at specific individuals or clusters of individu
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The area of accounting that provides external users with information is called _____.
a. managerial accounting
b. financial accounting
c. tax accounting
d. None of these choices are correct.
Answers
this u have to consider while planing for inter croping farming
Answers
Answer:
Answer to the following question is as follows;
Explanation:
The soil, temperature, and variety are all factors to consider when deciding which crops to combine. It is critical that crops do not compete for space, nutrients, water, or sunshine with one another. Cultivating one crop having deep roots beside another with shallow roots is an illustration of an intercropping technique.
Which of the following steps in the communication process comes just before the feedback step?
A) Supervisor decides what action is needed
B) Supervisor identifies the communication method to be used
C) Employee receives the message
D) Employee interprets the meaning of the message
Answers
The step of interpreting the meaning of the message plays a critical role in effective communication, as it ensures that the intended message is understood and forms the basis for meaningful feedback and further communication between the sender and the receiver.
In the communication process, the step that comes just before the feedback step is when the employee interprets the meaning of the message. This step is crucial as it involves the receiver of the message actively processing and understanding the information conveyed by the sender.
After receiving the message from the supervisor, the employee engages in the process of decoding the message, which involves interpreting its meaning based on their knowledge, experiences, and context. This interpretation is influenced by various factors such as the employee's perception, language skills, cultural background, and prior knowledge of the subject matter.
During the interpretation phase, the employee analyzes the message, extracts the relevant information, and makes sense of it in relation to their own understanding and objectives. They may also infer any implicit or underlying messages conveyed in the communication.
Once the employee has interpreted the message, they are then able to formulate a response or take appropriate action, which leads to the feedback step in the communication process. Feedback allows the employee to provide their response, seek clarification if needed, or share their understanding of the message with the supervisor, thus completing the communication cycle.
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a project will produce an operating cash flow of $7,300 a year for three years. the initial investment for fixed assets will be $11,600, which will be depreciated straight-line to zero over the asset's 4-year life. ignore bonus depreciation. the project will require an initial $500 in net working capital plus an additional $500 every year with all net working capital levels restored to their original levels when the project ends. the fixed assets can be sold for an estimated $2,500 at the end of the project, the combined tax rate is 23 percent, and the required rate of return is 12 percent. what is the net present value of the project?
Answers
The net present value of the project is $9,224, which is positive and indicates that the project is acceptable as it generates a return greater than the required rate of return.
To calculate the net present value (NPV) of the project, we need to determine the initial investment, operating cash flows, terminal cash flow, and the required rate of return.
The initial investment is the sum of the fixed asset investment and net working capital investment, which is:
Initial investment = Fixed asset investment + Net working capital investment
Initial investment = $11,600 + $500 = $12,100
The operating cash flows for the three years are given as $7,300, so the total cash flows over the life of the project are:
Total cash flows = Operating cash flows × Number of years
Total cash flows = $7,300 × 3 = $21,900
To calculate the terminal cash flow, we need to find the after-tax salvage value of the fixed assets. The book value of the fixed assets at the end of the project is zero, so the entire $2,500 sale proceeds will be a taxable gain. The tax on the gain will be:
Tax on gain = Tax rate × (Sale price - Book value)
Tax on gain = 0.23 × ($2,500 - $0) = $575
The after-tax salvage value is the sale price minus the tax on the gain:
After-tax salvage value = Sale price - Tax on gain
After-tax salvage value = $2,500 - $575 = $1,925
The total cash inflow at the end of the project is the sum of the after-tax salvage value and the recovery of net working capital, which is:
Total terminal cash flow = After-tax salvage value + Recovery of net working capital
Total terminal cash flow = $1,925 + $500 = $2,425
Now we can calculate the NPV of the project using the formula:
NPV = -Initial investment + PV of cash flows
where PV is the present value of the cash flows.
We can use a financial calculator or spreadsheet software to calculate the NPV. Using a financial calculator, the NPV is:
NPV = -$12,100 + $7,027 + $6,135 + $5,363 + $2,799
NPV = $9,224
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the marginal cost curve is multiple choice upsloping because of increasing marginal opportunity costs. upsloping because successive units of a specific product yield less and less extra utility. downsloping because of increasing marginal opportunity costs. downsloping because successive units of a specific product yield less and less extra utility.
Answers
The marginal cost curve is a). upsloping because of increasing marginal opportunity costs.
The marginal cost is the cost of producing an additional unit of a product and it typically increases as production increases. This occurs because, as a company increases production, it may need to use more expensive inputs or it may experience diminishing returns to its inputs. These factors cause the marginal cost to rise, resulting in an upsloping marginal cost curve. This contrasts with the concept of decreasing marginal utility, which refers to the idea that as a consumer consumes more and more units of a specific product, the extra satisfaction or utility derived from each additional unit decreases. This concept is not directly related to the shape of the marginal cost curve.
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At what age can you start working?
Answers
Answer:
Explanation:
depends on where you live
Explanation:
It really depends on the jobs and requirements but you can USUALLY do small work like walking a dog or babysitting at 13-14
A man in San Rafael County was discovered committing workers' compensation fraud. He had been observed working while at the same time receiving disability benefits. Surveillance showed the man working at an automobile auction. The investigator interviewed the owner of the auction and found that the claimant was being paid $200 per week in cash for washing vehicles and performing other shop tasks. Surveillance video showed the man carrying 25-pound bags of pet food, loading boxes, and rummaging through a trash dumpster. Obviously, he was not hurt very badly. 1. Was surveillance the proper method to use in this case? Why? 2. What are some restrictions to be careful about in conducting surveillance?
Answers
Answer:
1. Yes
2. - privacy concerns
- may lack full details.
Explanation:
1. In this scenario the automobile auction house would need to show video evidence of his (San Rafael's) fraud activities to the investigator.
2. Privacy concerns such as how the information gotten from video surveillance is used may pose a challenge.
There's also the reality of a lack of full details. For instance, San Rafael may be deaf a disability that cannot be reflected well on a surveillance video that shows him working.
The treasurer for Pittsburgh Iron Works wishes to use financial futures to hedge her interest rate exposure. She will sell five Treasury futures contracts at $139,000 per contract. It is July and the contracts must be closed out in December of this year. Long-term interest rates are currently 7.30 percent. If they increase to 9.50 percent, assume the value of the contracts will go down by 20 percent. Also, if interest rates do increase by 2.2 percent, assume the firm will have additional interest expense on its business loans and other commitments of $149,000. This expense, of course, will be separate from the futures contracts. a. What will be the profit or loss on the futures contract if interest rates increase to 9.50 percent by December when the contract is closed out?
Answers
The profit or loss on the futures contract if interest rates increase to 9.50 percent by December when the contract is closed out will be a loss of $34,750.
To calculate the profit or loss on the futures contract, we need to consider the change in value due to the change in interest rates.
Each Treasury futures contract has a value of $139,000.If interest rates increase by 2.2 percent, the futures contract value will go down by 20 percent.2.2% * $139,000 = $3,058 (increase in interest expense)$3,058 / (1 + 0.2) = $2,548 (reduction in futures contract value)The loss on each contract is $2,548.Since the treasurer is selling five contracts, the total loss on the futures contracts will be $2,548 * 5 = $12,740.However, we need to consider that a loss on the futures contracts can be offset by the additional interest expense of $149,000.$149,000 * 2.2% = $3,278 (increase in interest expense)The net loss on the futures contracts after considering the additional interest expense will be $12,740 - $3,278 = $9,462.Therefore, the profit or loss on the futures contract if interest rates increase to 9.50 percent by December will be a loss of $9,462 per contract, resulting in a total loss of $9,462 * 5 = $34,750.To learn more about interest rate, here
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Companies strive to resolve service problems in the best way possible because customers who have had a service problem that is resolved quickly and to their satisfaction tend to be more _________________ to the company.
Answers
Companies strive to resolve service problems in the best way possible because customers who have had a service problem that is resolved quickly and to their satisfaction tend to be more loyal to the company. Loyal customers are essential to the long-term success of any business.
They are more likely to recommend the company to others, provide positive reviews and feedback, and continue to purchase products or services from the company. Additionally, loyal customers are more forgiving of occasional mistakes or missteps by the company and are more willing to give them a second chance.
Furthermore, a strong focus on resolving service problems can help companies build a positive reputation in the industry. When customers see that a company is dedicated to addressing concerns and providing excellent customer service, they are more likely to view the company as trustworthy and reliable. This can attract new customers and increase overall revenue for the company.
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Part U67 is used in one of Broce Corporation's products. The company's Accounting Department reports the following costs of producing the 10,000 units of the part that are needed every year.
Direct materials......$9.00
Direct labor....$3.00
Varibale overhead...$4.00
Supervisor's salary....&1.50
Depreciation of special equipment....$1.40
Allocated general overhead....$5.00
An outside supplier has offered to make the part and sell it to the company for $18.00 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents fixed costs of the entire company. If the outside supplier's offer were accepted, only $8,000 of these allocated general overhead costs would be avoided. Required:
a. Prepare a report that shows the effect on the company's total net operating income of buying part U67 from the supplier rather than continuing to make it inside the company.
b. Which alternative should the company choose?
Answers
a. To determine the effect on the company's total net operating income of buying part U67 from the supplier, we need to compare the costs of making the part internally with the cost of purchasing it externally.
Cost of making the part internally:
Direct materials: $9.00 per unit * 10,000 units = $90,000
Direct labor: $3.00 per unit * 10,000 units = $30,000
Variable overhead: $4.00 per unit * 10,000 units = $40,000
Supervisor's salary: $1.50 per unit * 10,000 units = $15,000
Depreciation of special equipment: $1.40 per unit * 10,000 units = $14,000
Allocated general overhead (avoided cost): $5.00 per unit * 10,000 units - $8,000 = $42,000
Total cost of making the part internally = $90,000 + $30,000 + $40,000 + $15,000 + $14,000 + $42,000 = $231,000
Cost of purchasing the part externally:
Number of units needed: 10,000 units
Cost per unit from the supplier: $18.00 per unit
Total cost of purchasing the part externally = $18.00 per unit * 10,000 units = $180,000
Effect on net operating income = Cost of making internally - Cost of purchasing externally
Effect on net operating income = $231,000 - $180,000 = $51,000 (a decrease in net operating income)
b. Based on the calculations, if the company chooses to buy part U67 from the supplier instead of making it internally, the total net operating income would decrease by $51,000. Therefore, the company should consider continuing to make the part internally as it results in higher net operating income.
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Get them before they all sell out!!!!
Answers
Answer: ooo hehe boi thx for the points
Explanation: the answer is my happyness
Sally owns a $1,000-par zero-coupon bond that has six years of remaining a. What is the expected price of the bond at the time of sale?
Answers
Answer:
$647.96
Explanation:
Sue the following formula to calculate the price of the bond at the time of sale
Price of Bond = Face value of the bond / ( 1 + Market interest rate )^numbers of years
Where
Face value of bond = $1,000
Market interest rate = 7.5%
Numbers of years = 6 years
placing values in the formula
Price of Bond = $1,000 / ( 1 + 7.5% )^6
Price of Bond = $647.96
Explain why a rise in the pound sterling exchange is likely to affect the rate of inflation in the uk
Answers
Answer:
A higher inflation rate in the UK compared to other countries will tend to reduce the value of the Pound Sterling because: High inflation in the UK means that UK goods increase in price quicker than European goods. ... This increase in the supply of pounds decreases the value of Pound Sterling.
I need help on this
Answers
Answer: fra
Explanation:
A glass case is in the shape of a rectangular prism. The volume of the case is 15 cubic foot. How many cubic blocks with a side length of foot
would be required to find the volume of the glass case?
Answers
We would require 15 cubic blocks with a side length of 1 foot each to fill the glass case to find its volume.
To determine the number of cubic blocks with a side length of 1 foot that would be required to find the volume of a glass case in the shape of a rectangular prism, we need to first calculate the volume of each cubic block. Since each block has a side length of 1 foot, the volume of each block would be 1 cubic foot.
Now that we know the volume of each block, we can divide the total volume of the glass case by the volume of each block to find the number of blocks required. Therefore, to find the number of cubic blocks required to fill the glass case, we can use the following formula:
Number of cubic blocks = Volume of the glass case / Volume of each cubic block
Substituting the given values in this formula, we get:
Number of cubic blocks = 15 / 1
Number of cubic blocks = 15
Therefore, we would require 15 cubic blocks with a side length of 1 foot each to fill the glass case.
It is important to note that this calculation assumes that the blocks can fit perfectly within the glass case without any gaps or overlaps. If there is any wasted space due to gaps or overlaps, additional blocks may be required to fill the entire volume of the glass case.
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Note: It is a mathematics questions
A wheel's braking ability depends most on
Answers
Select the correct answer.
Kelly paid salary to her employees at the end of the month. What will be the journal entry for the given financial transaction?
A. Employee Account - Debit
Employee Account - Debit
B.
C. Salary Account - Debit
D. Salary Account - Debit
Cash Account - Credit
Kelly Account - Credit
Cash Account - Credit
Kelly Account - Credit
Reset
Next
Answers
Answer:
Explanation
Answer will be
C
Salary Account Debit
Cash Account Credit