Taylor has owned and occupied her personal residence (adjusted basis of $190,000) for four years. in april 2015, she sells the residence for $300,000 (selling expenses are $20,000). on the same day as the sale, taylor purchases another house for $350,000. because of noisy neighbors, she sells the new house after just 10 months. the selling price is $483,000 (selling expenses are $18,000).

what is taylor’s recognized gain on the sale of the first residence?

what is taylor’s basis for her second residence?

what is taylor’s recognized gain on the sale of the second residence?

assume instead that the sale of the second residence was due to taylor’s job transfer to another state. what is her recognized gain on the sale of the second residence?

Knight company reports the following costs and expenses in may. factory utilities $17,400 direct labor $70,300 depreciation on factory equipment 13,850 sales salaries 46,700 depreciation on delivery trucks 3,900 property taxes on factory building 3,100 indirect factory labor 53,700 repairs to office equipment 1,500 indirect materials 84,200 factory repairs 2,220 direct materials used 137,700 advertising 15,900 factory manager’s salary 8,700 office supplies used 2,770 from the information: your answer is incorrect. try again. determine the total amount of manufacturing overhead. manufacturing overhead $ 173050 link to text your answer is incorrect. try again. determine the total amount of product costs. product costs $ 208000 link to text your answer is incorrect. try again. determine the total amount of period costs. period costs $ 66870 click if you would like to show work for this question: open show work