FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Harris Richards sold a piece of investment real estate for $20,000 cash, a $10,000 face value corporate bond with a market value of $7,000, and

Harris Richards sold a piece of investment real estate for $20,000 cash, a $10,000 face value corporate bond with a market value of $7,000, and the buyer's note in the amount of $15,000. The buyer also assumed an $80,000 mortgage on the property. What is Richards' amount realized?

A.$45,000

B.$107,000

C.$122,000

D.$125,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Integrated Accounting For Windows

Integrated Accounting For Windows

Authors: Dale A. Klooster, Warren Allen

6th Edition

0324664850, 9780324664850

More Books

Students also viewed these Accounting questions

Question

★★★★★
The model used in economics to describe production is Q = 0 C 1 K 2 L 3 Where the dependent variable Q is the quantity produced, C is the capacity of a production unit, K is the capital invested...

Answered: 1 week ago

Question

★★★★★
Extend the Funclang language to add array of numeric values as a new kind of value to the programming language. This would require adding three new kinds of expressions, arrayexp, indexexp, and...

Answered: 1 week ago

Question

★★★★★
appreciate the different types of stressful demands we might face at work (e.g. regulation problems, physical demands, cognitive demands, role stress and emotional demands);

Answered: 1 week ago

Question

★★★★★
Review each of the following independent sets of conditions. Required: Use AICPA sample size tables to identify the appropriate sample size for use in a statistical sampling application (ROO 5 risk...

Answered: 1 week ago

Question

★★★★★
Answer questions 4-10 using the information below: Fullerton, Inc. makes and sells a single snowboard model, the Titan. Fullertons CEO expects to sell 3,910 snowboards at an estimated retail price of...

Answered: 1 week ago

Question

★★★★★
1. Compute total variable cost per unit. 2. Compute total fixed costs. 3. Prepare a flexible budget at activity levels of 6,000 units and 8,000 units. Complete this question by entering your answers...

Answered: 1 week ago

Question

★★★★★
Lucky, LLC, has four members: Amber, Brandon, Crystal, and Drew. Amber and Brandon each contributed $30,000, and Crystal and Drew each contributed $50,000 to form the company. Profits and losses are...

Answered: 1 week ago

Question

★★★★★
List the violations for the Happy Foods establishments. Provide license_no, Inspection Date, inspection Results, fine, Inspection Point ID, and description of the inspection point violated. need sql...

Answered: 1 week ago

Question

★★★★★
Complete the solution to the following differential equation. y" + 4y + 3y = 16et y(0) = 0, y(0) = 1 Applying the Laplace transform in both sides we get s2Y(s) - sy(0) -y (0) + 4[sY(s) = y(0)] +...

Answered: 1 week ago

Question

★★★★★
CheersInc., a small health insurance company, manages its own call center to provide customer service. A call is first taken by a general representative who will try to resolve the client's inquiry....

Answered: 1 week ago

Question

★★★★★
Many practices have tried to reduce no-shows through automated text and phone call reminders. But that only solves the issue of forgetfulness. Much more effective are options for online scheduling...

Answered: 1 week ago

Question

★★★★★
The fear of making a fool of oneself

Answered: 1 week ago

Question

★★★★★
4. Develop circular models, with positive and negative feedback loops, for the following situations: (a) In a poor third-world country, the population increase has been very large in the last ten...

Answered: 1 week ago

Question

★★★★★
Annoyance about a statement that has been made by somebody

Answered: 1 week ago

Previous Question Next Question