S-Chapter 8 (P5,P7).pdf

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Department
Financial Accounting
Course
MGAC01H3
Professor
Daga Sandra
Semester
Winter

Description
CHAPTER8CapitalGainsBusinessRelatedSolution5BasicPidgeonDockLtdhassoldthebuildingforlessthanitscostamountwithaconcurrentcapitalgainonthelandWhenthisoccurssubsection13211reallocatestheproceedsofdispositionbetweenthelandandthebuildingAnylossonthebuildingisreducedbytheamountofthegainonthelandDeemedproceedsofthebuildingisequaltothelesserofaTotalFMVoflandandbuilding475000DeductthelesserofiFMVofland175000iiCostofland100000100000amounta375000bThegreaterofiFMVofbuilding300000iithelesserofaUCCofbuilding350000350000bCapitalcost400000amountb350000Deemedproceed
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