Question Completion Status QUESTION 3 1. Bob used to own a local retail store.stead of own the more directly to a corporation to the rest accrual method of accounting. The corporation would extend credit to many of its customers, so whether time of quidation, there were many account receivables outstanding and book over the owner of them. Two 2000 receivable still outstanding for $100.000 in 2020 the debtored for bankruptcy and to determined that he way satisfaction of the debt. In 2021 he actually received 30.000 insatisfaction of the detit. What are the arreston 2000 Would the answer change if the corporation was a cash basis taxpayer? If so, how? T 7T Aria 3 (12) T-E. LE h:p 3333 point ESTION 4 Amy had a rough year in 2020. While her AGI was $75,000 she was involved in many casualties. All of them involved her business property. Assets A, B, and were involved in the casualties. The basis of each of the assets was the following A $225,000, B -$300,000 and $150,000. The tal market value of each of the assets before the casualty took place was A $175,000, B - $200,000 and $200,000. The fair market values of each of the assets after the casualty were A- $150,000, B-0, and C- $25,000. The insurance recoveries for each asset were A $35,000, 8-350,000 and C 0. How much will Army be able o deduct in computing her taxable income as a result of these casualties? Save Ares and Submit to save and submit. Click Save ALL Answers to save all answers. MacBook Pro Question Completion Status QUESTION 3 1. Bob used to own a local retail store.stead of own the more directly to a corporation to the rest accrual method of accounting. The corporation would extend credit to many of its customers, so whether time of quidation, there were many account receivables outstanding and book over the owner of them. Two 2000 receivable still outstanding for $100.000 in 2020 the debtored for bankruptcy and to determined that he way satisfaction of the debt. In 2021 he actually received 30.000 insatisfaction of the detit. What are the arreston 2000 Would the answer change if the corporation was a cash basis taxpayer? If so, how? T 7T Aria 3 (12) T-E. LE h:p 3333 point ESTION 4 Amy had a rough year in 2020. While her AGI was $75,000 she was involved in many casualties. All of them involved her business property. Assets A, B, and were involved in the casualties. The basis of each of the assets was the following A $225,000, B -$300,000 and $150,000. The tal market value of each of the assets before the casualty took place was A $175,000, B - $200,000 and $200,000. The fair market values of each of the assets after the casualty were A- $150,000, B-0, and C- $25,000. The insurance recoveries for each asset were A $35,000, 8-350,000 and C 0. How much will Army be able o deduct in computing her taxable income as a result of these casualties? Save Ares and Submit to save and submit. Click Save ALL Answers to save all answers. MacBook Pro
