Business, 13.12.2019 07:31 itzdulceee
Luke sold a building and the land on which the building sits to his brother at fair market value. the fair market value of the building was determined to be $325,000; luke built the building several years ago at a cost of $200,000. luke had claimed $ 45,000 of depreciation expense on the building . the fair market value of the land was determined to be $210,000 at the time of sale; luke purchased the land many years ago for $130,000. luke's brother will use the building in his business.
a. what is the amount and character of luke's recognized gain or loss on the building?
b. what is the amount and character of luke's recognized gain or loss on the land?
Answers: 2
Business, 21.06.2019 20:30
Agood for which demand increases as income rises is and a good for which demand increases as income falls is
Answers: 1
Business, 22.06.2019 05:50
Which is one solution to levy the complexity of the global matrix strategy with added customer-focused dimensions?
Answers: 3
Business, 22.06.2019 11:00
Abank provides its customers mobile applications that significantly simplify traditional banking activities. for example, a customer can use a smartphone to take a picture of a check and electronically deposit into an account. this unique service demonstrates the bank’s desire to practice which one of porter’s strategies?
Answers: 3
Business, 22.06.2019 17:00
During which of the following phases of the business cycle does the real gdp fall? a. trough b. expansion c. contraction d. peak
Answers: 2
Luke sold a building and the land on which the building sits to his brother at fair market value. th...
Biology, 23.02.2021 08:50
Mathematics, 23.02.2021 08:50
History, 23.02.2021 08:50
English, 23.02.2021 08:50
English, 23.02.2021 09:00
Physics, 23.02.2021 09:00
Mathematics, 23.02.2021 09:00
Mathematics, 23.02.2021 09:00
Mathematics, 23.02.2021 09:00
Mathematics, 23.02.2021 09:00
Mathematics, 23.02.2021 09:00