Roger sold three items of business equipment

| September 28, 2018

Roger sold three items of business equipment for a total of $219,000. None of the equipment was appraised to determine its value. Roger’s cost and adjusted basis for the assets are as follows:Asset Cost AdjustedBasisBulldozer $117,000 $102,300Crane $70,200 $46,500Grater $46,800 $37,200Total $234,000 $186,000Roger has been unable to establish the fair market values of the three assets. All he can determine is that combined they were worth $219,000 to the buyer in this arm’s length transaction.A. If Roger allocates one-third of the selling price to each asset, determine the gain or loss. Do not round your intermediate computations. if required, round your final answers to the nearest dollar.Asset Allocated Sale Price Adjusted BasisGain or LossBulldozer ? $102,300 Crane ? 46,500 Grater ? 37,200 Total $219,000 $186,000 $ B. If Roger allocates the $219,000 selling price to each asset based on its relative original cost, determine the gain or loss. In your computation round any division to 1 decimal place. If required, round your final answer to the nearest whole dollar.Asset Allocated Sale Price Adjusted BasisGain or LossBulldozer ? $102,300 Crane ? 46,500 Grater ? 37,200 Total $219,000 $186,000 $C. If Roger allocates the $219,000 selling price to each asset based on its relative adjusted basis, determine the gain or loss. In your computation round any division to 2 decimal places.If required, round your final answer to the nearest whole dollar.Asset Allocated Sale Price Adjusted BasisGain or LossBulldozer ? $102,300 Crane ? 46,500 Grater ? 37,200 Total $219,000 $186,000 $

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