Question
Upon the sale of property for $ 3,000,000, when the basis of the relinquished property was $2,200,000, replacement property was acquired for $ 4,000,000. a.
Upon the sale of property for $ 3,000,000, when the basis of the relinquished property was $2,200,000, replacement property was acquired for $ 4,000,000.
a. The realized gain was.
3,000,000 - 2,200,000 = 800,000
b. The basis of the replacement property was
4,000,000 + 800,000 = 4,800,000
Based on the above data, if replacement property was acquired for 2,700,000.
- The deferred gain was.
- The recognized gain was.
Upon the sale of property for $3,000,000, when the basis of the relinquished property was $2,200,000, replacement property was acquired for $4,000,000. a. The realized gain was. 3,000,0002,200,000=800,000 b. The basis of the replacement property was 4,000,000+800,000=4,800,000 Based on the above data, if replacement property was acquired for 2,700,000. a. The deferred gain was. b. The recognized gain was
Upon the sale of property for $ 3,000,000, when the basis of the relinquished property was $2,200,000, replacement property was acquired for $ 4,000,000.
a. The realized gain was.
3,000,000 - 2,200,000 = 800,000
b. The basis of the replacement property was
4,000,000 + 800,000 = 4,800,000
Based on the above data, if replacement property was acquired for 2,700,000.
- The deferred gain was.
- The recognized gain was.
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Financial Accounting Oakton Community College Tools For Business Decision Making
Authors: Paul D. Kimmel ,Jerry J. Weygandt ,Donald E. Kieso
6th Edition
1118113632, 978-1118113639
