Respuesta :
Answer: $17,200
Explanation:
Sales: 290,000
Less selling expenses (17,400)
________
A) 255,200
Purchase 200,000
Depreciation (4,500)
Casualty loss (19,000)
Reimbursement 13,500
street paving assessment 7,000
Side walk 8,000
Elevator 20,000
Medical expenses 13,000
_________
B) 238,000
Profit realized a-b
= 255,200 - 238,000
= $17,200
Answer:
Consider the following calculations of the exercise
Explanation:
- Amount realized on sale:- $290000 --$17400 = $272600
- Calculation of adjusted basis:- $ ( 200000--4500--13500-5500+7000+8000+7000). = $198500
- Calculation of gain:- $ 272600--$198500=$74100