Business, 30.07.2021 03:30 battlemarshmell

Classify the following exchanges as "Qualifying" or "Not Qualifying" as a like-kind exchange under § 1031. Qualifies / Not Qualifying a. Improved for unimproved real estate b. Rental house for personal residence c. Business land for rental house (held for investment) d. Warehouse for office building (both used for business) e. Truck for computer (both used in business) f. Rental house for land (both held for investment) g. Office furniture for office equipment (both used in business) h. Unimproved land in Jackson, Mississippi, for unimproved land in Toledo, Spain i. General partnership interest for a general partnership interest

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 02:00

Kenney co. uses process costing to account for the production of canned energy drinks. direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. equivalent units have been calculated to be 19,200 units for materials and 16,000 units for conversion costs. beginning inventory consisted of $11,200 in materials and $6,400 in conversion costs. april costs were $57,600 for materials and $64,000 for conversion costs. ending inventory still in process was 6,400 units (100% complete for materials, 50% for conversion). the total cost per unit using the weighted average method would be closest to:

Answers: 2

Answer

Business, 22.06.2019 05:00

Which of the following differentiates cost accounting and financial accounting? a. the primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers. b. cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions. c. cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties. d. cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.

Answers: 3

Answer

Business, 22.06.2019 12:10

The cost of the beginning work in process inventory was comprised of $3,000 of direct materials, $10,000 of direct labor, and $10,000 of factory overhead. costs incurred during the period were comprised of $15,000 of direct materials costs, and $100,000 of conversion costs. the equivalent units of production (eup) for the period were 9,000 for direct materials and 6,000 for conversion. the costs per eup were:

Answers: 3

Answer

Business, 22.06.2019 15:00

Magic realm, inc., has developed a new fantasy board game. the company sold 15,000 games last year at a selling price of $20 per game. fixed expenses associated with the game total $182,000 per year, and variable expenses are $6 per game. production of the game is entrusted to a printing contractor. variable expenses consist mostly of payments to this contractor.required: 1-a. prepare a contribution format income statement for the game last year.1-b. compute the degree of operating leverage.2. management is confident that the company can sell 58,880 games next year (an increase of 12,880 games, or 28%, over last year). given this assumption: a. what is the expected percentage increase in net operating income for next year? b. what is the expected amount of net operating income for next year? (do not prepare an income statement; use the degree of operating leverage to compute your answer.)

Answers: 2

Answer

You know the right answer?

Classify the following exchanges as "Qualifying" or "Not Qualifying" as a like-kind exchange under §...

Questions