Beaver corporation owns a parcel of land with a fair market value (fmv) of $75,000 and a basis of $40,000. beaver exchanges the land for a building with an fmv of $65,000. the corporation also receives $10,000 in cash. both proper-ties are investment properties for beaver.

a. what is beaver’s amount realized on the exchange?
b. what is beaver’s realized gain or loss on the exchange?
c. how much of the realized gain or loss must beaver recognize?
d. what is the character of the recognized gain or loss?
e. what is beaver’s basis in the building it acquired?

Which of the following is not part of the mission statement of the department of homeland security? lead the unified national effort to secure america protect against and respond to threats and hazards to the nation ensure safe and secure borders coordinate intelligence operations against terrorists in other countries

The face of a company is often that of the lowest paid employees who meet the customers. select one: true false

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?