Russell Corporation sold a parcel of land valued at $477,500. Its basis in the land was $360,512. For the land, Russell received $117,750 in cash in year 0 and a note providing that Russell will receive $192,000 in year 1 and $167,750 in year 2 from the buyer (plus reasonable interest on the note). (Do not round intermediate calculations. Round your answers to 2 decimal places.)a. What is Russell realized gain on transaction? b. what is Russel's recognized gain in year1, year2, year3.

Agovernment receives a gift of cash and investments with a fair value of $200,000. the donor specified that the earnings from the gift must be used to beautify city-owned parks and the principal must be re-invested. the $200,000 gift should be accounted for in which of the following funds? a) general fund b) private-purpose trust fund c) agency fund d) permanent fund

True or false payroll withholding includes income tax, social security tax, medicare tax as well as money you deduct for your retirement fund.

Which of the following describes one of the ways that the demographics of an area affect the price of housing in that area? a. when more people have children, their incomes tend to be higher and the housing prices are also higher. b. older people are more likely to stay in their houses, creating a seller's market that keeps prices low. c. an area with a lower population density won't have enough construction workers to build new houses quickly. d. an area with younger people will have a higher demand for rentals and a lower demand for buying.