Answer:
The offer of Grays head living arrangement in November 2016 Qualifies for the 121 exclusion. Under the arrangement of the demonstration, none of dark's Realized Gain of $ 148000 Recognized.
Grey can select to Forgo the 121 Exclusion, right now/her perceived increase is $1,48,000 making this political decision to swear off this political decision is useful in light of the fact that dim is anticipating selling his new head habitation inside year and a half and the acknowledged addition is wanted to be bigger than $148,000.
The correct sentence is given below:
The state government offered Mike $3000,000 for his family's property, which they plan to use for building a new development. THE FIFTH AMENDMENT allows the state government to take the property as long as it is used for NON PROFIT PURPOSES. Mike can still dispute the government's offer if the compensation IS LESS THAN THE FAIR MARKET VALUE OF THE LAND.
The fifth amendment provides that government can buy land from private individuals to build community projects that are non profitable in nature, but the government has to pay the right amount of money for the land.
Answer:
$80
Explanation:
This can be calculated as follows:
<u> Lake Co.</u>
Details $
Customer advances balance Dec 31, 2008 110
Advances received with 2009 orders 195
Advances applicable to orders in 2009 (180
)
Advances from orders canceled in 2009 <u> (45) </u>
Current liability for advances <u> 80 </u>
Therefore, Lake should report $80 as a current liability for advances from customers in its Dec. 31, 2009, balance sheet.
