What is the amount of her gain

Assignment Help Financial Management
Reference no: EM131918382

Ruth sold land she purchased three months earlier for use in her business. Her cost and adjustment basis in the land is $75,000. The buyer paid $80,000 cash and assumed Ruth's $25,000 mortgage on the property. What is the amount of her gain, and where on the 4797 will she report the sale?

Reference no: EM131918382

Questions Cloud

Calculate the value of the call option and the other values : Calculate the value of the call option and the other values (given below) using a two period (two step or state) binomial tree.
Effective annual interest rate on additional amount : What is the effective annual interest rate on the additional amount borrowed if you take the first loan?
What was your paper about : What was your paper about, what article was examined, what were your findings. It must be of the word length listed about, and is one unindented paragraph.
Why tobacco is a public health concern : CHP 328-Public Health Science - identifying why your topic is a public health concern and to describe how the three core functions of public health
What is the amount of her gain : What is the amount of her gain, and where on the 4797 will she report the sale?
What work is required to translate raw data into journalism : Are the Wikileaks documents newsworthy? Why or why not? What work is required to translate the raw data into journalism?
Retirement in order to be able to fund your retirement : how much will you need to have saved at retirement in order to be able to fund your retirement?
Journalize nhss issuance of the bonds : NHS Co. issued $350,000 of 10-year bonds payable on January 1. Journalize NHS's issuance of the bonds and first semiannual interest payment
Describe components of the american criminal justice system : Describes the three core components of the American criminal justice system and their respective functions. Provide an overview of the three core components.

Reviews

Write a Review

Financial Management Questions & Answers

  What will be the firms cash cycle

Suppose that LilyMac Photography has annual sales of $240,000, cost of goods sold of $175,000, average inventories of $5,500, average accounts receivable of $27,000, and an average accounts payable balance of $18,200. Assuming that all of LilyMac’s s..

  Why would patricks actions be considered fraudulent

Patrick works for McGill’s Computer Repair, owned and operated by Frank McGill. As a computer technician, Patrick has grown accustomed to friends and family members asking for assistance with their personal computers. Why would Patrick’s actions be c..

  What is the companys current marginal tax rate

Select a major industrial or commercial company based in the United States and listed on one of the major stock exchanges in the United States. Each student should select a different company. What is the company's current marginal tax rate? What is t..

  How many books will a publisher have to sell

How many books will a publisher have to sell to break even if fixed costs are $100,000, the selling price per book is $60, and the variable costs per book are $40?

  Three-month european call option on the market index

An investor purchases a three-month European call option on the market index with an exercise price of $1000 for a premium of $10. After three months, the market index spot price is $1011 and the investor’s position is closed. Find the rate of return..

  Determine profit loss per contract ignoring transaction cost

When this position was closed out, the quoted price was 93.20.  - Determine the profit or loss per contract, ignoring transaction costs.

  Under a system of floating exchange rates

Under a system of floating exchange rates, which of the following conditions would tend to cause the Canadian dollar to appreciate in value against the U.S. dollar?

  Calculate the income-capital gain-total return

Assuming you purchased a share of stock for $50 one year ago, sold it today for $60, and during the year received 3 dividend payments totaling $2.70, calculate the following. (a) Income. (b) Capital gain (or loss). (c) total return (1) in dollars (2)..

  What is the initial investment outlay for the spectrometer

What is the initial investment outlay for the spectrometer, that is, what is the Year 0 project cash flow?

  Proposed cost-saving device has an installed cost

A proposed cost-saving device has an installed cost of $820,000. The device will be used in a five-year project but is classified as three-year MACRS property for tax purposes.

  When should company-specific risks not to be reflected

Suppose we can create two products: A and B; A and B are mutually exclusive to each other. The price of both products is $4 in real terms. The Sales Volume for product A is 5 million units yearly, and for product B is 10 million yearly. Which product..

  Arrearages are unpaid preferred dividends

A convertible bond gives the bondholder the right to exchange their bonds for a preset number of shares of stock. A warrant is a security that is often sold with bonds but that can be detached (bought and sold separately) from the bond. Arrearages ar..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd