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QUIZLLET Robin’s automobile, which she uses exclusively in her trade or business, was damaged in an accident. The adjusted basis of the automobile prior to the accident was $8,000. The fair market value of the automobile before the accident was $10,000 and the fair market value of the automobile after the accident was $500. Insurance proceeds of $9,500 were received. What are Robin’s income tax consequences resulting from this transaction?
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Business, 21.06.2019 18:20
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Larissa has also provided the following information. during the year, the company raised $36 million in new long-term debt and retired $20.52 million in long-term debt. the company also sold $22 million in new stock and repurchased $32.4 million. the company purchased $54 million in fixed assets, and sold $6,107,400 in fixed assets. larissa has asked dan to prepare the financial statement of cash flows and the accounting statement of cash flows. she has also asked you to answer the following questions: 1. how would you describe east coast yachts' cash flows? 2. which cash flows statement more accurately describes the cash flows at the company? 3. in light of your previous answers, comment on larissa's expansion plans.
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QUIZLLET Robin’s automobile, which she uses exclusively in her trade or business, was damaged in an...
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