Answer: A. $25,000 B. $90,000 C. $25,000
Explanation:
A.
Land $100,000
Stock 25,000
Amount realized 125,000
Less: Adjusted basis (90000)
Recognized gain $35,000
When you receive book in an exchange which is similar or like kind, then the recognized gain is the lesser of either the boot or recognized gain. Here the lesser is the boot received which is $25,000. Therefore, recognized gain is $25,000
B.
Because the recognized gain is taken as $25,000 rather than $35,000. The $10,000 amount is considered as postponed gain. Hence,
$100,000 (land worth) - $10,000 (postponed gain) = $90,000 - basis of new land.
C.
The worth of the stock is the basis in the stock received. Which is $25,000
According to Okun’s law, for every 1 percentage point by
which the actual unemployment rate exceeds the natural rate, a negative GDP gap
of about 2 percent occurs. The actual unemployment rate exceeds the natural
rate by 4 percent. This is calculated as follows :
Actual unemployment – natural unemployment = 9 – 5 = 4%.
Thus, according to Okun’s law the GDP gap is -8%.
If the potential GDP is $ 500 billion, the actual GDP is 8%
lower than the potential GDP. In other words, 8% of the $ 500 billion is being
forgone because of cyclical unemployment.
GDP forgone = 8% x potential GDP = 8% x 500 = $40 billion
Explanation:
The following steps to flow the accounting information
(b) Business transaction occurs.
(c) Information entered in the journal. It includes the narration part
(a) Debits and credits posted to the ledger to their respective accounts
(e) A trial balance is prepared. It aims to match the total debit and total credit columns
(d) Financial statements are prepared so that it could analyze the financial performance, position of the business organization
All these above steps are to be followed systematically so that the financial statement could be present in an accurate and ethical way. It must be free from any bias, it always be presented independently.
Answer:
when it has a bold border and it is where the data you type will appear.
Explanation:
That fees are called the Closing costs
These payment usually being done when both the buyer and the seller close the deal.
Closing costs can be incurred by either buyer or the seller, such as :
- Attorney fees
- Survey Fees
- documentation fees
- Home Warranties , etc
