Mitchell, a calendar year taxpayer, is the sole proprietor of a fast-food restaurant. his adjusted basis for the building and the related land is $450,000. on march 4, 2013, state authorities notify mitchell that his property is going to be condemned so that the highway can be widened. on june 20, mitchell’s property is officially condemned, and he receives an award of $625,000. because mitchell’s business has been successful in the past, he would like to reopen the restaurant in a new location. a. what is the earliest date mitchell can acquire a new restaurant and qualify for § 1033 postponement? b. on june 30, mitchell purchases land and a building for $610,000. assuming thathe elects postponement of gain under § 1033, what is his recognized gain? c. what is mitchell’s adjusted basis for the new land and building? d. if he does not elect § 1033, what are mitchell’s recognized gain and adjustedbasis? e. suppose he invests the $625,000 condemnation proceeds in the stock market onjune 30. what is mitchell’s recognized gain?

Which of these things did galileo not do? a. stop publishing his scientific work after being convicted of heresy b. invent the concept of acceleration c. experiment with rolling balls down ramps of increasing steepness to test how objects would fall d. argue that earth moves around the sun e. make up a thought experiment that indicated that objects would fall at the same rate

Required information problem 15-1a production costs computed and recorded; reports prepared lo c2, p1, p2, p3, p4 [the following information applies to the questions displayed below. marcelino co.'s march 31 inventory of raw materials is $84,000. raw materials purchases in april are $540,000, and factory payroll cost in april is $364,000. overhead costs incurred in april are: indirect materials, $59,000; indirect labor, $26,000; factory rent, $38,000; factory utilities, $19,000; and factory equipment depreciation, $58,000. the predetermined overhead rate is 50% of direct labor cost. job 306 is sold for $670,000 cash in april. costs of the three jobs worked on in april follow. job 306 job 307 job 308 balances on march 31 direct materials $30,000 $36,000 direct labor 25,000 14,000 applied overhead 12,500 7,000 costs during april direct materials 133,000 210,000 $100,000 direct labor 105,000 150,000 101,000 applied overhead ? ? ? status on april 30 finished (sold) finished in process (unsold) required: 1. determine the total of each production cost incurred for april (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from march 31). a-materials purchases (on credit). b-direct materials used in production. c-direct labor paid and assigned to work in process inventory. d-indirect labor paid and assigned to factory overhead. e-overhead costs applied to work in process inventory. f-actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) g-transfer of jobs 306 and 307 to finished goods inventory. h-cost of goods sold for job 306. i-revenue from the sale of job 306. j-assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions. 3. prepare a schedule of cost of goods manufactured. 4.1 compute gross profit for april. 4.2 show how to present the inventories on the april 30 balance sheet.

An arithmetic progression involves the addition of the same quantity to each number.which might represent the arithmetic growth of agricultural production