Determining recognized gain on property

Reference no: EM13140802

Ben's property, which has an adjusted basis of $45,000, is condemned by the state government. The authorities replace his property with other qualified property which cost them $120,000. What is Ben's recognized gain?

a-$35,000

b-$85,000

c-$0

d-$120,000

Reference no: EM13140802

Questions Cloud

Computing the earnings per share : Compute earnings per share for 2010. Assume that financial statements for 2010 were issued in March 2011.

How many total moles of atoms does the sample contain : a sample of propane, contains 17.7 moles of carbon atoms. How many total moles of atoms does the sample contain.

Find or prepare the price-earnings ratio : Find or prepare the price-earnings ratio, the dividend payout ratio, the dividend yield, book value, and earnings per share, and identify whether you would consider this company a good investment,

Assess the company''s business strategy : Assess the company's business strategy as a cost and/or differentiation strategy and discuss how it achieved this leadership position.

Determining recognized gain on property : Ben's property, which has an adjusted basis of $45,000, is condemned by the state government. The authorities replace his property with other qualified property which cost them $120,000. What is Ben's recognized gain?

Explain what is the resolution of each quantizer : Supply the quantisation levels (including zero) that are available. Do this for both the three and 4-bit ADC in table form. What is the resolution of each quantizer?

Calculate number of shares outstanding : Calculate number of shares outstanding at the time of the cash dividend and the amount of cash required to fund the cash dividend.

Calculate both the molar and molal concentration of water : Calculate both the molar and molal concentration of water (H2O) in a solution of pure water when the water is at 10C and 30C. Use an accurate molecular weight for water

Cash flow before tax and interest : How much will a firm need in cash flow before tax and interest to satisfy debtholders and equityholders if: the tax rate is 35%, there is $13 million in common stock requiring a 10% return, and $6 million in bonds requiring an 6% return?

User Account

All Pages