Barrett is a real estate broker. He actively advertises his own and his clients' real estate for sale. He had the following transactions for one segment of his business:
?
$$\begin{array} { l l }
1 / 15 / 08 & \text { Purchased property } A \text { for } \$ 50,000 \
2 / 15 / 12 & \text { Paid } \$ 10,000 \text { to put up fencing on property A } \
6 / 20 / 12 & \text { Purchased property C for } \$ 18,000 \
1 / 15 / 18 & \text { Sold property C for } \$ 23,000 \
7 / 30 / 18 & \text { Sold property A for } \$ 95,000
\end{array}$$
How should Barrett account for the sales in 2018?

Question

Barrett is a real estate broker. He actively advertises his own and his clients' real estate for sale. He had the following transactions for one segment of his business:
?
 $$\begin{array} { l l } 
1 / 15 / 08 & \text { Purchased property } A \text { for } \$ 50,000 \
2 / 15 / 12 & \text { Paid } \$ 10,000 \text { to put up fencing on property A } \
6 / 20 / 12 & \text { Purchased property C for } \$ 18,000 \
1 / 15 / 18 & \text { Sold property C for } \$ 23,000 \
7 / 30 / 18 & \text { Sold property A for } \$ 95,000
\end{array}$$ 
How should Barrett account for the sales in 2018?

Quizplus · Accepted Answer

The Answer of Barrett is a real estate broker. He actively advertises his own and his clients' real estate for sale. He had the following transactions for one segment of his business:
?
 $$\begin{array} { l l } 
1 / 15 / 08 & \text { Purchased property } A \text { for } \$ 50,000 \
2 / 15 / 12 & \text { Paid } \$ 10,000 \text { to put up fencing on property A } \
6 / 20 / 12 & \text { Purchased property C for } \$ 18,000 \
1 / 15 / 18 & \text { Sold property C for } \$ 23,000 \
7 / 30 / 18 & \text { Sold property A for } \$ 95,000
\end{array}$$ 
How should Barrett account for the sales in 2018?

Barrett Is a Real Estate Broker How Should Barrett Account for the Sales in 2018