subject
Social Studies, 14.11.2021 23:20 bankskry

Roberto a sole proprietor purchased a warehouse in 2016 for 500,000. His adjusted basis in the warehouse as of 12/31/2019 was $ 455,200. during 2020 there was a fire in the warehouse and Roberto spent $115,000 to repair the damage. The fire insurance company paid Roberto $ 100,000 on his damage claim. Assuming the 2020 depreciation expense on the warehouse is $ 40,000 what is the adjusted basis of the warehouse at 12/31/2020

ansver
Answers: 1

Another question on Social Studies

question
Social Studies, 22.06.2019 05:00
Explain the diversity of race in latin america
Answers: 3
question
Social Studies, 22.06.2019 12:30
Article 11 of the constitution defines the role of?
Answers: 1
question
Social Studies, 22.06.2019 21:00
This description of the "firm league of friendship" of states is a quotation from the
Answers: 1
question
Social Studies, 22.06.2019 21:30
Acurb of this color means you may not stop a) yellow b)green c) red d) blue
Answers: 1
You know the right answer?
Roberto a sole proprietor purchased a warehouse in 2016 for 500,000. His adjusted basis in the wareh...
Questions
question
Computers and Technology, 11.12.2020 05:40
question
Mathematics, 11.12.2020 05:40
question
Mathematics, 11.12.2020 05:40
question
Mathematics, 11.12.2020 05:40
Questions on the website: 13722367