Business, 08.08.2019 23:20 shygrl05

Last year, ricardo sold a piece of unimproved real estate to cliff for $20,000. ricardo acquired the property 15 years ago at a cost of $10,000. last year, ricardo received $4,000 cash and cliff’s note in the amount of $16,000 for the remainder of the selling price, payable in subsequent years. ricardo reported the sale using the installment method. this year, before cliff made any further payments, ricardo sold the note for $15,000 in cash. what is the amount of gain or (loss) ricardo should report on this year’s tax return?

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 22:10

You have just received notification that you have won the $2.0 million first prize in the centennial lottery. however, the prize will be awarded on your 100th birthday (assuming you're around to collect), 66 years from now. what is the present value of your windfall if the appropriate discount rate is 8 percent?

Answers: 1

Answer

Business, 22.06.2019 03:00

How does having a flexible mind you become a better employee? a. it you become more honest toward work. b. it you become a team player. c. it you learn new things that will better your performance. d. it you to finish your work on time. e. it you reach work on time

Answers: 1

Answer

Business, 22.06.2019 08:10

Bakery has bought 250 pounds of muffin dough. they want to make waffles or muffins in half-dozen packs out of it. half a dozen of muffins requires 1 lb of dough and a pack of waffles uses 3/4 lb of dough. it take bakers 6 minutes to make a half-dozen of waffles and 3 minutes to make a half-dozen of muffins. their profit will be $1.50 on each pack of waffles and $2.00 on each pack of muffins. how many of each should they make to maximize profit, if they have just 20 hours to do everything?

Answers: 3

Answer

Business, 22.06.2019 10:10

At the end of year 2, retained earnings for the baker company was $3,550. revenue earned by the company in year 2 was $3,800, expenses paid during the period were $2,000, and dividends paid during the period were $1,400. based on this information alone, retained earnings at the beginning of year 2 was:

Answers: 1

Answer

You know the right answer?

Last year, ricardo sold a piece of unimproved real estate to cliff for $20,000. ricardo acquired the...

Questions