[jeff]

REG Resources:

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REG Score Release: https://www.another71.com/cpa-exam-scores-results-release

[OCDisME]

I just wanted to chime in and say that I am so happy this thread and forum exist! When I'm feeling so frustrated with studying, I think I'm alone and then I read everyone else's frustrations and know that I'm NOT alone! We're all working so hard and we all can do it!

I've read some comments about business law and I must agree…it is NOT FUN!!! I just finished R6 and will be taking a progress test, then diving into R7.

Good luck to everyone!

Becker Online - IL Candidate

FAR: 85
AUD: 85
BEC: 78
REG: 90

[OCDisME]

I just wanted to chime in and say that I am so happy this thread and forum exist! When I'm feeling so frustrated with studying, I think I'm alone and then I read everyone else's frustrations and know that I'm NOT alone! We're all working so hard and we all can do it!

I've read some comments about business law and I must agree…it is NOT FUN!!! I just finished R6 and will be taking a progress test, then diving into R7.

Good luck to everyone!

Becker Online - IL Candidate

FAR: 85
AUD: 85
BEC: 78
REG: 90

[Qlad]

I have question …about casualty…

Adjusted basis 150000

Before Fire FMV 200000

After fire FMV 180000

Repairs made by owner 10000

What is the loss before deducting the “Floor” amount?

A. 0

B. 10000

C. 20000

D. 30000

I gave the answer A. bcoz…it was repairable ( did anyone hear Jeff's audio….casualty loss only if not repairable and that example of Car and tree…that broke only the hood and was repairable etc..)…but the answer is C. why?

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Qlad]

I have question …about casualty…

Adjusted basis 150000

Before Fire FMV 200000

After fire FMV 180000

Repairs made by owner 10000

What is the loss before deducting the “Floor” amount?

A. 0

B. 10000

C. 20000

D. 30000

I gave the answer A. bcoz…it was repairable ( did anyone hear Jeff's audio….casualty loss only if not repairable and that example of Car and tree…that broke only the hood and was repairable etc..)…but the answer is C. why?

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Anonymous]

Hmm I think it is because it has a permanent decline in value (will not be @$200,000 even with repairs it is only $160,000). I am not sure though. However, it is $200,000 because the deductible amount is the lesser of the decline in FMV ($200,000-$180,000) or basis after casualty ($150,000).

[Anonymous]

Hmm I think it is because it has a permanent decline in value (will not be @$200,000 even with repairs it is only $160,000). I am not sure though. However, it is $200,000 because the deductible amount is the lesser of the decline in FMV ($200,000-$180,000) or basis after casualty ($150,000).

[Qlad]

@ cupcake…yeah…permanent decline in value must be the key word….thanks.

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Qlad]

@ cupcake…yeah…permanent decline in value must be the key word….thanks.

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Kenada]

Hiya, I have Jeffs Audio too and i remember if you have a car and the windshield breaks and you repair it, then its not casualty cause you made the car whole again.

I think in this question its about the FMV and If its a permanent decline in value even after the repairs than that value decline would be taken as casualty.

FAR 05/27/14; 786/110 - Done !

[Kenada]

Hiya, I have Jeffs Audio too and i remember if you have a car and the windshield breaks and you repair it, then its not casualty cause you made the car whole again.

I think in this question its about the FMV and If its a permanent decline in value even after the repairs than that value decline would be taken as casualty.

FAR 05/27/14; 786/110 - Done !

[Qlad]

@ insiyah…try answer this,…

A made an oral contract with B to repair a rare book that B owned for $450…After some days B contracted orally for additional repair to the book and increased the amount $650. After the work was done B refused to pay additional amount based on Statute of Frauds. What amount will A recover?

A. 200

B. 650

C. 0

D. 450

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Qlad]

@ insiyah…try answer this,…

A made an oral contract with B to repair a rare book that B owned for $450…After some days B contracted orally for additional repair to the book and increased the amount $650. After the work was done B refused to pay additional amount based on Statute of Frauds. What amount will A recover?

A. 200

B. 650

C. 0

D. 450

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[stoleway]

Qlad…………I think the right choice is A because A performed contract. I know it exceed the $500 threshold but once the person has performed the contract, you need to pay.

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[stoleway]

Qlad…………I think the right choice is A because A performed contract. I know it exceed the $500 threshold but once the person has performed the contract, you need to pay.

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[stokey45]

Well Guys~

I have my REG exam on October 4th. Less than one week left. I am using the Becker Review and am doing progress tests on each of the chapters. I am very grateful because it FINALLY seems like the information is coming together for me. I am scoring pretty well on the progress tests but when I take another test undoubtedly I will get at least one repeat question sometimes more. That does help to boost my score but I really would prefer not to get a good score because I just saw the same question earlier today. Has anyone else experienced this and did you do anything to change it?

[Author]

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