Wilshire Corporation Purchased a Commercial Building in 2001 for $975,000

question 110

Multiple Choice

Wilshire Corporation purchased a commercial building in 2001 for $975,000.During 2017,the building is sold for $775,000.The actual depreciation on the building as of the sale date was $300,000.What is the amount and character of the gain recognized on the sale?

• A)$100,000 Section 1250 ordinary income.
• B)$100,000 Section 1231gain.
• C)$100,000 Unrecaptured Section 1250 gain.
• D)$100,000 Section 1245 gain.

Describe methods to measure and calculate enzyme activity, including turnover number.

Understand the structural basis of enzyme action and how this relates to enzyme specificity and regulatory mechanisms.

Explain the principles behind enzyme denaturation and the biological relevance of denatured enzymes.

Understand the legal capacity requirements for entering a contract.

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Definitions:

Controlling Account

An account in the general ledger that summarizes the total balances of all individual accounts in a subsidiary ledger.

Schedule Of Accounts Receivable

A list of the customers, in alphabetical order, that have an outstanding balance in the accounts receivable subsidiary ledger. This total should be equal to the balance of the Accounts Receivable controlling account in the general ledger at the end of the month.

Control Account

A summary account in the general ledger that consolidates and reflects the total of transactions recorded in subsidiary ledgers.

Customers' Names

Identifying information for individuals or entities that purchase goods or services from a business.