1) Jim sold an asset for $75,000 in cash; he also received land worth $30,000...
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Accounting
1) Jim sold an asset for $75,000 in cash; he also received land worth $30,000 and was relieved of debt of $25,000. He paid a commission of $5,000. How much did he realized on the transaction ?
2) Mary purchases a computer for her business on 4/1/21. The computer costs $4,000. How much can she depreciate for 2021 ?
3) Sue purchased a piece of land for $45,000 during 2021 for her business. how much can she depreciate for 2021 ?
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