Business, 01.12.2021 01:00 lazavionadams81
Luke sold a building and the land on which the building sits to his wholly owned corporation, Studemont Corporation, at fair market value. The fair market value of the building was determined to be $362,500; Luke built the building several years ago at a cost of $310,000. Luke had claimed $81,000 of depreciation expense on the building. The fair market value of the land was determined to be $252,000 at the time of the sale; Luke purchased the land many years ago for $194,250.
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
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One of your new suppliers, kim, has been hearing rumors about your firmās lack of capability to deliver high quality products and writes an email asking you to address the claims being made. in replying to her, you want to be sure that you are very clear and leave no room for misinterpretation. which of the following aspects of effective communication should you give the most attention? (a) making sure you understand kimās areas of expertise. (b) supporting your reply with relevant data and facts. (c) establishing your credibility as an expert. (d) paying attention to implied communications.
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Business, 22.06.2019 21:50
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Luke sold a building and the land on which the building sits to his wholly owned corporation, Studem...
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