Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. abby sells real property for $300,000. the buyer p

Abby sells real property for $300,000. The buyer pays $5,000 in property taxes that had...

50.1K

Verified Solution

Question

Accounting

image
Abby sells real property for $300,000. The buyer pays $5,000 in property taxes that had accrued during the year while the property was still Segally owned by Abay, in addition, Abby pays $15,000 in commissions and $3,000 in legal fees in connection with the salt. How much does Abby realize (the amount realized) from the sale of her property? Ca. 320,000 Ob, 3277.000 O 5300,000 Od. 527,000

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

Finance
1.2K views

Last year Mason Inc. had a total assets turnover of 1.33 and an equity multiplier of...

Psychology
1.2K views

Subject:Child development in early childhood ecucation but I choose physology to be easy but I really...

General Management
1.2K views

The Joint Commission & The Department of Human Services are two governing bodies vital to health...

Basic Math
1.2K views

20 The client tells you she drank the following 1 2 glass of ginger ale...

Algebra
1.2K views

Simplify the trigonometric expressions. Show your steps or give a reason for your answer.a. sec...

Algebra
1.2K views

Your car s gas tank is full and you take a trip You travel 205...

Accounting
1.2K views

Caterpillars December 31st, 1998 balance sheet shows accounts receivable of approximately $2.5 billion, accounts payable...

Accounting
1.2K views

1. Using the absorption costing concept, prepare income statements for (a) July and (b) August...

Accounting
1.2K views

Bonita Industries sells its product for $7100 per unit. Variable costs per unit are: manufacturing,...

Accounting
1.2K views

"Live Long and Prosper" and "To Boldly Go Where No Man Has Gone Before" are...

Accounting
1.2K views

please answer all parts. Thanks! Exercise 6-16 Working with a Segmented Income Statement; Break-Even...

Finance
1.2K views

Why do we use an after tax figure for the cost of debt but not...