Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 14. robert transferred his rent house to his best

14. Robert transferred his rent house to his best friend, The house had cost $200,000...

90.2K

Verified Solution

Question

Accounting

14. Robert transferred his rent house to his best friend, The house had cost $200,000 and depreciation of $12,500 had claimed. The house was subject to an assumable loan of $180,000. Robert received $20,000 cash. How much is Robert's gain or loss realized?

A.$-0-

B. $7.500 loss

C. $20,000 gain

D. $12,500 gain

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Name the possible products of this reaction in the presence of ether and AlCl3: methylbenzene +...

Economics
1.2K views

Recently, Mexico experienced large-scale trade deficits, depletion of foreign reserve holdings and a major currency devaluation in...

Biology
1.2K views

The shared derived character that defines the clade Mammalla is mammary glands Overtebrae the placenta...

Biology
1.2K views

How does having both endocytosis and exocytosis transportation allow for advance functions in the Endomembrane...

Physics
1.2K views

Accordig to VBT which of the following overlapping results type covalent bond in O molecule...

Physics
1.2K views

1 Equal masses of water and a liquid of relative density two are mixed together...

Basic Math
1.2K views

The fox population in a certain region had a relative growth rate of 6.5% per...

Calculus
1.2K views

1 Use the eigenvalue to find the general Method and eigen vector solution of the...

Algebra
1.2K views

9 7 WRITE A LINEAR EQUATION FROM THE SLOPE AND A POIN Keep going In...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.] In 2018, the...

Accounting
1.2K views

Leisure City has an Electric Utility Enterprise Fund (EUEF) that provides electric power to its...

Accounting
1.2K views

Research articles about recent technological advances and/or studies in Data Analytics and write an Article...