Joe owned a building that was worth $100,000. In exchange for the building, he received...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Joe owned a building that was worth $100,000. In exchange for the building, he received a Corvette that was worth $30,000, ownership in a business worth $50,000, and cash in the amount of $30,000. What is the amount he received in this transaction?
Select one:
a. $100,000
b. $110,000
c. $30,000
d. $10,000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
