Tina and tom talley purchased a home in 2001 for 450000, Financial Accounting

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Tina and tom talley purchased a home in 2001 for 450000

Tina and tom talley purchased a home in 2001 for $450,000. over the years they made substantial improvements, totaling $100,000. in 2015, the couple was divorced. as a part of the settlement, the house was transferred to tina. in 2016 tina sold the house for $850,000.

a. what is tina's realized gain on the transaction?

b. what is her recognized gain?

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Financial Accounting: Tina and tom talley purchased a home in 2001 for 450000

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Financial Accounting: Tina and tom talley purchased a home in 2001 for 450000

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