Sub :Accounting Pls answer very fast.I ll upvote. Thank You Peroni Corporation sold a parcel of land valued at $300,000. Its basis in the land was $250,000. For the land, Peroni received $150,000 in cash in the current year and a note providing Peroni with $150,000 in the subsequent year. What is Peroni's recognized gain in the current and subsequent year, respectively? Group of answer choices $0, $50,000 $10,000, $40,000 $25,000, $25,000 $50,000, $0 None of the choices are correct.

Sub :Accounting Pls answer very fast.I ll upvote. Thank You Peroni Corporation sold a parcel of land valued at $300,000. Its basis in the land was $250,000. For the land, Peroni received $150,000 in cash in the current year and a note providing Peroni with $150,000 in the subsequent year. What is Peroni's recognized gain in the current and subsequent year, respectively? Group of answer choices $0, $50,000 $10,000, $40,000 $25,000, $25,000 $50,000, $0 None of the choices are correct.

Name: Sub :AccountingPls answer very fast.I ll upvote. Thank YouPeroni Corp
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Description: Sub :AccountingPls answer very fast.I ll upvote. Thank YouPeroni Corporation sold a parcel of land valued at $300,000. Its basis in the land was $250,000. For the land, Peroni received $150,000 in cash in the current year and a note providing Peroni

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter18: Comparative Forms Of Doing Business

Section: Chapter Questions

Problem 1BD

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Sub :AccountingPls answer very faast.I ll upvote. Thank You Peroni Corporation sold a parcel of land valued at $300,000. Its basis in the land was $250,000. For the land, Peroni received $150,000 in cash in the current year and a note providing Peroni with $150,000 in the subsequent year. What is Peroni's recognized gain in the current and subsequent year, respectively? Group of answer choices $0, $50,000 $10,000, $40,000 $25,000, $25,000 $50,000, $0 None of the choices are correct.
Give typing answer with explanation and conclusion An investor has sold a property that was part of a 1031 exchange. The original tax savings by doing the exchange was $100,000. Annual depreciation was lowered by $20,000 each year and the investor's income tax rate is 28%. At the time of sale, the investor had greater capital gains and therefore owes an additional $55,000 in taxes. The exchange was considered desirable as long as the investor earned more than ____ on her money each year until the second property was sold. Assume the investor held the property for 15 years.
! Required information [The following information applies to the questions displayed below.] Russell Corporation sold a parcel of land valued at $400,000. Its basis in the land was $275,000. For the land, Russell received $50,000 in cash in year 0 and a note providing that Russell will receive $175,000 in year 1 and $175,000 in year 2 from the buyer. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) b. What is Russell's recognized gain in year O, year 1, and year 2? Year Recognized Gain 0 1 2
Aber Company buys land for $145,000 in 2021. As of 3/31/22, the land has appreciated in value to $151,000. On 12/31/22, the land has an appraised value of $155,400. By what amount should the Land account be increased in 2022? Group of answer choices $6,000 $4,400 $0 $10,400
! Required information [The following information applies to the questions displayed below.] Russell Corporation sold a parcel of land valued at $400,000. Its basis in the land was $275,000. For the land, Russell received $50,000 in cash in year 0 and a note providing that Russell will receive $175,000 in year 1 and $175,000 in year 2 from the buyer. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. What is Russell's realized gain on the transaction? Realized gain
Payback and ARR Each of the following scenarios is independent. All cash flows are after-tax cash flows. Melannie Bayless has purchased a business building for $331,000. She expects to receive the following cash flows over a 10-year period: Year 1: $43,000 Year 2: $58,500 Year 3-10: $89,000 What is the payback period for Melannie? Round your answer to one decimal place.fill in the blank What is the accounting rate of return? Enter your answer as a whole percentage value (for example, 16% should be entered as "16" in the answer box).fill in the blank
A. ACQUISITION COSTS Mr. Ardi acquired land at a cost of Rp4.200.000.000 on April 1, 2019. In addition to this cost, he had to pay the following expenses: a. Commission fee, 2% from the land price, Rp84,000,000 b. Land acquisition tax Rp12,000,000 c. Removal cost of old (unused) building Rp20.500.000. Mr. Ardi received Rp17.000.000 from the sales of salvage materials. d. Rpl10.000.000 to build a fence e. Rp215.000.000 to build a parking lot Instructions: Prepare the journal entries for the above transaction! (4%)
JE T E B More info Additionally, One Stop purchased land of $27,700 by financing it 100% with long-term notes payable during 2024. During the year, there were no sales of land, no retirements of stock, and no treasury stock transactions. A plant asset was disposed of for $0. The cost and accumulated depreciation of the disposed asset was $12,630. The plant acquisition was for cash. Acquisition of Land by Issuing Long-term Notes Payable Cash Payment for Acquisition of Plant Assets Cash Payment of Dividends Cash Payment of Notes Payable Cash Receipt from Issuance of Common Stock Decrease in Accrued Liabilities Decrease in Merchandise Inventory Depreciation Expense-Plant Assets Increase in Accounts Payable Increase in Accounts Receivable Cash Payment for Acquisition of Plant Assets Net Cash Provided by (Used for) Investing Activities Help me solve this Demodocs example Get mor mothod (llen a minuc cian or parenthacac for amounts that r One Stop, Inc. Income Statement Year Ended December…
Future and Present Values (including Annuity Due); Spreadsheet Applicationa. It is said that the Indian who sold Manhattan for $24 was a sharp salesman. If he had put his $24away at 6% compounded semiannually, it would now be worth more than $9 billion, and he couldbuy most of the now-improved land back! Assume that this seller invested on January 1, 1701,the $24 he received.41Required1. Use Excel to determine the balance (in billions) of the investment as of December 31, 2018, assuminga 6% interest rate compounded semiannually. (Hints: Use the FV function in Excel. Also, you can usethe NPER function in Excel to determine the number of years between the end year and the start year.Remember that there are two semiannual periods in every year.)2. Carry out the same calculation using an 8% annual interest rate, compounded semiannually.3. What would be the balances for requirements 1 and 2 if interest is compounded quarterly?4. Assume that the account consisting of this investment had a…
Part (a): It is said that the Indian who sold Manhattan for $33 was a sharp salesman. If he had put his $33 away at 5% compounded semiannually, it would now be worth more than $6 billion, and he could buy most of the now-improved land back! Assume that this seller invested on January 1, 1701, the $33 he received. (Enter amounts in whole dollars, not in billions. Round final answers to nearest whole dollar amount.) Required: 1. Use Excel to determine the balance of the investment as of December 31, 2021, assuming a 5% interest rate compounded semiannually. (Hint. Use the FV function in Excel.) 2. Use Excel to determine the balance of the investment as of December 31, 2021, assuming an 6% annual interest rate, compounded semiannually. (Hint. Use the FV function in Excel.) 3. What would be the balances for requirements 1 and 2 if interest is compounded quarterly? 4. Assume that the account consisting of this investment had a balance of $6.5 billion as of December 31, 2021. How much would…
Part (a): It is said that the Indian who sold Manhattan for $42 was a sharp salesman. If he had put his $42 away at 7% compounded semiannually, it would now be worth more than $6 billion, and he could buy most of the now- Improved land back! Assume that this seller Invested on January 1, 1701, the $42 he received. (Enter amounts In whole dollars, not in billions. Round final answers to nearest whole dollar amount.) Required: 1. Use Excel to determine the balance of the Investment as of December 31, 2021, assuming a 7% Interest rate compounded semiannually. (Hint. Use the FV function in Excel.) 2. Use Excel to determine the balance of the Investment as of December 31, 2021, assuming an 8% annual Interest rate, compounded semiannually. (Hint. Use the FV function In Excel.) 3. What would be the balances for requirements 1 and 2 If Interest is compounded quarterly? 4. Assume that the account consisting of this Investment had a balance of $6.5 billion as of December 31, 2021. How much would…
poin(s) possible Eastwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: E (Click the icon to view the values.) Eastwood paid $265,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to two places, and use the computed percentages throughout. (Record a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) ... Date Accounts and Explanation Debit Credit Land-Lot 1 Land-Lot 2 Land-Lot 3 Data table Cash To record sale of lots. Lot Appraised Value Lot 1 2$ 202,500 Lot 2 225,000 Lot 3 22,500 Print Done