What is the recognized gain or loss on the sale, Accounting Basics

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What is the recognized gain or loss on the sale

Alicia buys a beach house for 325000 which she uses as her personal vacation home. she builds an additional room on the house for 45000. she sells the property for 450000 and pays 22000 in commisions and 4000 in legal fees in connection with the sale. what is the recognized gain or loss on the sale of the house?

a. 0

b.54000

c.80000

d.99000

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Accounting Basics: What is the recognized gain or loss on the sale

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Accounting Basics: What is the recognized gain or loss on the sale

Reference No:- TGS094663

Recent Questions Asked Accounting Basics

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