Mary exchanged an office building used in her business for some land. mary originally purchased the building for $45,000, and it had an adjusted basis of $20,000 at the time of the exchange. the land had a fair market value of $40,000. mary also gave $4,000 to the seller in the transaction. what is mary's adjusted basis in the land after the exchange? group of answer choices
a. $20,000b. $24,000c. $36,000d. $40,000e. none of these choices are correct

The answer is: B) $24,000

Explanation:

This type of exchange is classified as a like-kind exchange (1031 exchange); it is a transaction that allows a company to dispose an asset and acquire another replacement asset without generating a tax liability from the sale of the replaced asset.

$40,000 (replacement asset) + $4,000 (cash paid) - $20,000 (replaced asset) = $24,000

administrative jobs normally have someone answering phone calls and scheduling appointments, filing patient or customer information, making sure the front of the office looks nice to those who enter the building. administrative jobs can also include making sure the manager has everything they need for meetings, making delivers and much more. administrative jobs are important to most businesses as are customer service focused as they are often one of the first impressions a consumer sees of a business.