User Account

All Pages

What is ariana recognized gain on receipt

Assignment Help Accounting Basics
Reference no: EM133045585

Question - Ariana's restaurant with an adjusted basis of $600,000 is condemned on November 16, 2018. Ariana is a calendar year taxpayer. She receives a condemnation award of $720,000 on March 15, 2019. She builds a new restaurant at a cost of $680,000 that is completed and paid for on December 31, 2020. What is Ariana's recognized gain on receipt of the condemnation award and basis for the new restaurant assuming her objective is to minimize gain recognition?

a. $0; $570,000

b. $40,000; $600,000

c. $40,000; $680,000

d. $120,000; $600,000

e. $120,000; $680,000

Reference no: EM133045585

Questions Cloud

Intern a job at full pay the internship : -Does an employer have an ethical responsibility to offer an intern a job at full pay once the internship is successfully completed? Why or why not?
Performance management practice for expatriate managers : When considering performance management practice for expatriate managers, what are the major factors that must be addressed? Do these differ for expatriate staf
ECE 8010 Analysis of Linear Systems Assignment : ECE 8010 Analysis of Linear Systems Assignment Help and Solution, Clemson University - Assessment Writing Service
Benefits of human resource planning in an organization : Explain the benefits of human resource planning in an organization.
What is ariana recognized gain on receipt : What is Ariana's recognized gain on receipt of the condemnation award and basis for the new restaurant assuming her objective is to minimize gain recognition
Define competitive advantage : Define competitive advantage and explain why this is considered to be a major concern to firms?
What price change would lead to a margin call : The initial margin is $3; 000 and the maintenance margin is $2; 000. What price change would lead to a margin call
What are the facts related to company closure : 1. What are the facts related to company closure? 2. What are appropriate methods of communication when making redundancies
What is performance management : What is Performance Management and why is it important for organizations?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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