Alpha Geek

(8)

$10/per page/Negotiable

About Alpha Geek

Levels Tought:
University

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Environmental science,Essay writing,Programming,Social Science,Statistics Hide all
Teaching Since: Apr 2017
Last Sign in: 441 Weeks Ago, 3 Days Ago
Questions Answered: 9562
Tutorials Posted: 9559

Education

  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
    Jan-2012 - Nov-2016

Experience

  • Professor
    Harvard Square Academy (HS2)
    Mar-2012 - Present

Category > Accounting Posted 15 May 2017 My Price 5.00

Logan and Johnathan exchange land

37.              Logan and Johnathan exchange land, and the exchange qualifies as like kind under  §  1031.  Because  Logan’s  land  (adjusted  basis  of  $85,000)  is  worth

$100,000 and Johnathan’s land has a fair market value of $80,000, Johnathan   also

gives Logan cash of $20,000.

a.      What is Logan’s recognized gain?

b.     Assume instead that Johnathan’s land is worth $90,000 and he gives Logan

$10,000 cash. Now what is Logan’s recognized gain?

 

Answers

Alpha Geek
(8)
Status NEW Posted 15 May 2017 12:05 PM My Price 5.00

-----------

Attachments

file 1494850966-Answer.docx preview (96 words )
3-----------7.Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â -----------Log-----------an -----------and----------- Jo-----------hna-----------tha-----------n e-----------xch-----------ang-----------e l-----------and-----------, a-----------nd -----------the----------- ex-----------cha-----------nge----------- qu-----------ali-----------fie-----------s a-----------s l-----------ike----------- ki-----------nd -----------und-----------erÂ-----------  Â-----------§Â ----------- 10-----------31.-----------  -----------Bec-----------aus-----------e ----------- Lo-----------gan-----------’-----------s ----------- la-----------ndÂ-----------  (-----------adj-----------ust-----------edÂ-----------  b-----------asi-----------s ----------- of-----------  -----------$85-----------,00-----------0)Â-----------  i-----------s Â----------- wo-----------rth----------- $-----------100-----------,00-----------0 a-----------nd -----------Joh-----------nat-----------han-----------’-----------s l-----------and----------- ha-----------s a----------- fa-----------ir -----------mar-----------ket----------- va-----------lue----------- of----------- $8-----------0,0-----------00,----------- Jo-----------hna-----------tha-----------n -----------  -----------als-----------o -----------giv-----------es -----------Log-----------an -----------cas-----------h o-----------f $-----------20,-----------000-----------. -----------a.Â----------- Â ----------- Â----------- Â ----------- Wh-----------at -----------is -----------Log-----------anâ-----------€™s----------- re-----------cog-----------niz-----------ed -----------gai-----------n? ----------- b.----------- Â----------- Â -----------  -----------Ass-----------ume----------- in-----------ste-----------ad -----------tha-----------t J-----------ohn-----------ath-----------anâ-----------€™s----------- la-----------nd -----------is -----------wor-----------th
Not Rated(0)