During 2018, ted and judy, a married couple, decided to sell their residence, which had a basis of $300,000. they had owned and occupied the residence for 20 years. to make it more attractive to prospective buyers, they had the outside painted in april at a cost of $6,000 and paid for the work immediately. they sold the house in may for $880,000. broker’s commissions and other selling expenses amounted to $53,000. since they both are age 68, they decide to rent an apartment. they purchase an annuity with the net proceeds from the sale. what is the recognized gain?

Tyler has coffee with one of his direct reports almost daily. he does this to inquire in an informal way about progress on the job, and to provide coaching and support, as well as appropriate congratulations for special efforts. tyler is exhibiting which type of managerial skill?

Sheldon has the following year-end account balances: accounts receivable, $5,000; supplies, $12,000; equipment, $18,000; accounts payable, $17,000; stockholders’ equity, $43,000. the cash account balance was not available at year-end. given the account balances listed, the balance in the cash account should be?

Steele bicycle manufacturing company currently produces the handlebars used in manufacturing its bicycles, which are high-quality racing bikes with limited sales. steele produces and sells only 10,000 bikes each year. due to the low volume of activity, steele is unable to obtain the economies of scale that larger producers achieve. for example, steele could buy the handlebars for $31 each: they cost $34 each to make. the following is a detailed breakdown of current production costs: after seeing these figures, steele's president remarked that it would be foolish for the company to continue to produce the handlebars at $34 each when it can buy them for $31 each. calculate the total relevant cost. do you agree with the president's conclusion?