Explain what is her basis for the house

Assignment Help Other Subject

Reference no: EM1394554

In 2001, Ellen purchased a house for $60,000 to use as her personal residence. She paid $12,000 and borrowed $48,000 from the local savings and loan company. In 2005 she paid $10,000 to add a room to the house. In 2007 she paid $625 to have the house painted and $800 for built-in bookshelves. As of January 1 of the current year, she has reduced the $48,000 mortgage to $44,300. What is her basis for the house?

Reference no: EM1394554

Questions Cloud

Difference in mean sbp between treatments : The data is shown on the table. Is there a difference in mean SBP between treatments? Run the appropriate test at α= 0.05

Applied statistics in nursing : Explain the importance of random sampling. What problems/limitations could prevent a truly random sampling and how can they be prevented?

Effect of various temperatures on enzyme structure : What do you think would happen to reaction rate in the tube incubated in ice if this tube, with enzyme and substrate already mixed, were placed in the 37 degrees C water bath?

Who is responsible for the corporate climate : Suppose, for the moment, which neither store pays sales commissions. Parkleigh offers an hourly wage plus the employee discount. Kaufmann's offers only an hourly wage. Do you expect Kaufmann's hourly wage to be higher or lower than Parkleigh's.

Explain what is her basis for the house : In 2005 she paid $10,000 to add a room to the house. In 2007 she paid $625 to have the house painted and $800 for built-in bookshelves. As of January 1 of the current year, she has reduced the $48,000 mortgage to $44,300. What is her basis for the..

Explain possible significance of alien as element of science : Conclusion must bring together all ideas about aliens you have developed in paper and explain possible significance of "alien" as element of science fiction.

What type of vertical supply chain/distribute : A small manufacturer was once quoted as saying, "The best day also the worst day of my business life was the day we got a contract from Wal-Mart." Illustrate what type of vertical supply chain/distributer; ion channel is the manufacturer entering?..

Create diagram for the molecular structure of phospholipid : Draw a diagram that represents the molecular structure of a phospholipid. Be sure to show any part of the molecule that might be charged. Describe 2 ways in which the molecular structures of phospholipids and triglycerides are similar, and two ways ..

Explain how might you approach a situation : Times of crisis can present opportunities for informal leadership to emerge. Those who take charge of threatening situations often have no formal title or position.

User Account

All Pages