On June 2, 2019, a tornado destroyed the building in which FF operated a fast-food franchise. FF’s adjusted basis in the building was $214,700. In each of the following cases: Determine FF’s recognized gain or loss on this property disposition and FF’s basis in the replacement building. Assume that FF would elect to defer gain recognition when possible. On September 8, 2019, FF received a $250,000 reimbursement from its insurance company. On August 10, 2020, it completed construction of a replacement building for a total cost of $300,000. Determine FF’s recognized gain or loss on this property disposition and FF’s basis in the replacement building. Assume that FF would elect to defer gain recognition when possible. On September 8, 2019, FF received a $250,000 reimbursement from its insurance company. On August 10, 2020, it completed construction of a replacement building for a total cost of $235,000. Determine FF’s recognized gain or loss on this property disposition and FF’s basis in the replacement building. Assume that FF would elect to defer gain recognition when possible. On September 8, 2019, FF received a $200,000 reimbursement from its insurance company. On August 10, 2020, it completed construction of a replacement building for a total cost of $300,000.
Answers: 3
Business, 22.06.2019 10:00
Your uncle is considering investing in a new company that will produce high quality stereo speakers. the sales price would be set at 1.5 times the variable cost per unit; the variable cost per unit is estimated to be $75.00; and fixed costs are estimated at $1,200,000. what sales volume would be required to break even, i.e., to have ebit = zero?
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Business, 22.06.2019 11:30
1. regarding general guidelines for the preparation of successful soups, which of the following statements is true? a. thick soups made with starchy vegetables may thin during storage. b. soups should be seasoned throughout the cooking process. c. finish a cream soup well before serving it to moderate the flavor. d. consommés take quite a long time to cool. student c incorrect
Answers: 2
Business, 22.06.2019 12:30
Acorporation a. can use different depreciation methods for tax and financial reporting purposes b. must use the straight - line depreciation method for tax purposes and double declining depreciation method financial reporting purposes c. must use different depreciation method for tax purposes, but strictly mandated depreciation methods for financial reporting purposes d. can use straight- line depreciation method for tax purposes and macrs depreciation method financial reporting purposes
Answers: 2
Business, 22.06.2019 16:10
The brs corporation makes collections on sales according to the following schedule: 30% in month of sale 66% in month following sale 4% in second month following sale the following sales have been budgeted: sales april $ 130,000 may $ 150,000 june $ 140,000 budgeted cash collections in june would be:
Answers: 1
On June 2, 2019, a tornado destroyed the building in which FF operated a fast-food franchise. FF’s a...
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