Reference no: EM131886714
Question: In 2016, Sam Dealer sold land he had been holding as an investment since 1990 to a buyer who paid him $1,000,000 cash, gave him diamond ring worth $100,000 and took over the responsibility for paying a mortgage of $900.000 which was transferred the land. He had acquired the property in 1984 for $500,000 and spent $100,000 on improvements. His total selling expenses (commissions, transfer taxes, etc._) were $100,000. Mr. Investor had $1,000,000 of income from other sources in 2016
a) What is the Sales Price?
b) What is the Amount Realized?
c) What is the Gain/Loss realized?
d) what is the Gain/Loss recognized?
e) what is the tax liability on the sale of the land?
|
How would convince your bosses to undertake such a project
: 1) How would convince your bosses to undertake such a project? 2) What would you train the employees to track? Why would you train them to track these "things"
|
|
Create more opportunities for countries
: These agreements create more opportunities for countries to trade with one another by removing the barriers to trade and investment
|
|
How the model is an improvement on classical explanation
: Choose any macroeconomic model that you have studied in this unit and discuss how that model is an improvement on the classical explanation of macroeconomics.
|
|
Signing and disbursement of documentation
: What is your policy and procedures for the signing and disbursement of documentation?
|
|
What is the tax liability on the sale of the land
: In 2016, Sam Dealer sold land he had been holding as an investment since 1990 to a buyer who paid him $1,000,000 cash, gave him diamond ring worth $100,000.
|
|
Calculating the diluted earnings per share
: In 2016, Kingbird Enterprises issued, at par, 60 $1,000, 8% bonds, each convertible into 100 shares of common stock. Kingbird had revenues of $20,600.
|
|
Buyer at sealgood instruments
: Do you think the buyer at Sealgood Instruments, Troy Smyrna, is practicing unethical behavior? First, what is the term for this behavior
|
|
Learning and evolving type of culture
: A company with an experimental, learning and evolving type of culture that is also responsive to the external environment is an example
|
|
What are the effects of obesity on the global economy
: Write a three pages paper about What Are the Effects of Obesity on the Global Economy? The paper should be APA format and 3 pages long.
|