Milton Has the Following Transactions Related to His Investments and His

question 20

Essay

Milton has the following transactions related to his investments and his business during 2013:
(1)Stock purchased in 2002 is sold at a gain of $2,000.
(2)Bonds purchased in 2013 are sold at a loss of $7,000.
(3)A building used in his business is sold at a loss of $6,000.The building had been purchased in 1996 and $18,000 of depreciation had been taken on the building.
(4)Equipment purchased in 2008 is sold at a gain of $12,000.Depreciation of $9,000 had been taken before the sale.
(5)A delivery van is destroyed in an accident.Milton realizes a loss of $5,000 on the van.He uses the $13,000 of insurance proceeds as a down payment on a new van costing $28,000.
a.Determine the amount and character of each gain or loss.

b.Determine the effect of the gains and losses on Milton's 2012 adjusted gross income.You must present the calculations in proper form to receive full credit.

Distinguish between different types of genetic mutations and their consequences on cell function.

Describe the natural functions of restriction enzymes and their role in bacterial defense.

Understand the genetic and environmental basis of multifactorial diseases.

Recognize the relationship between mutations and disease, including cancer and genetic disorders.

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