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Unrecaptured Sec. 1250 Gain and 1231. Mr. Briggs purchased an apartment complex onJanuary 10, 2011, for $2 million with 10% of the price allocated to land. He sells thecomplex on October 22, 2013, for $2.5 million. Assume that 10% of the $2.5 millionselling price is allocated to land and 90% is allocated to the building.a. How much depreciation was allowed for 2011?b. How much depreciation is allowed for 2013?c. Will any of the gain be ordinary income?d. What is the amount of gain and the character of the gain on the sale of the building?e. What is the amount of gain and the character of the gain on the sale of the land?f. Will any of the gain be taxed at 25%?Help please36Crystal Corporation has the following information regarding its common stock: $10 par, with 500,000 shares authorized, 213,000 shares issued, and 183,700 shares outstanding. On August 22, 2013, Crystal declared and paid a 15% stock dividend when the market price of the common stock was $30 per share.Required:1. Prepare the journal entries to record declaration and payment of this stock dividend.2. Prepare the journal entries to record declaration and payment assuming it was a 30% stock dividend
Cost Behaviour "Profitability is only around the corner." This is a general expression in the business world; you might have heard or said this yourself only. But, the reality
The total demand (marginal benefit) curve for visiting Yosemite is as follows: Price = 5000-10*NumberOfTrips -10*TonsOfVisibleTrash. a. Suppose the quantity of trash=100 ton
A retail dealer in garments is currently selling 24000 shirts annually. He supplies the following details for the year ended 31st December,2007. Rs Selling Price per shirt
Introduction of Internal Rate of Return The traditional internal rate of return (IRR) method of project selection has been shown to be inferior to the NPV method due to vario
labour cost related case study with solution
fixed expenses are incurred equally in the two half year periods,calculate
Generally Accepted Accounting Principles (GAAP) -Rules, conventions and procedures essential to define accepted accounting practice at a specific time. The highest level of such pr
Important Aspect Regarding to Service Cost Centres The basis selected should be one that is judged to be the mainly equitable way of sharing the service costs of department
You are provided with the subsequent information relating to Cello Ltd. The accountant is currently preparing the budget for the next three months ending 30 June 2010.
Principles of Marginal Costing The principles of marginal costing are as given: 1. Period fixed costs are similar, for any volume of sales and production provided suc
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