Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for $215,000. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Problem 10-45 Part a (Algo) a. What is Bob's basis in the warehouse and in the land if the appraised value of the warehouse was $112,500 and the appraised value of the land was $138,750? Warehouse Land Bob's Basis
Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for $215,000. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Problem 10-45 Part a (Algo) a. What is Bob's basis in the warehouse and in the land if the appraised value of the warehouse was $112,500 and the appraised value of the land was $138,750? Warehouse Land Bob's Basis
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for
$215,000.
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.
Problem 10-45 Part a (Algo)
a. What is Bob's basis in the warehouse and in the land if the appraised value of the warehouse was $112,500 and the appraised value
of the land was $138,750?
Warehouse
Land
Bob's Basis
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