Natchitoches---about an hour away from Shreveport Louisiana is the State's oldest city. New Orleans follows, and Opelousas Louisiana is the 3rd oldest.
Cost of Goods Sold Sexton Corp. has current... (Solved) January 23, 2017. Cost of Goods Sold Sexton Corp . has current liabilities of $325,000, a quick ratio of 0.85, inventory turnover of 9.5, and a... Lambda Corporation has current liabilities of $450,000, a quick (Solved) April 18, 2013.
Therefore, if you paid $20,000 for the car, and receive $5,000 for damages, your cost basis is now $15,000, which only affects your taxes when you sell the vehicle. Any money you receive over and above the cost basis amount when you sell is considered a taxable capital gain.