a corporation is selling an existing asset for $21,000. the asset, when purchased, cost $10,000, was being depreciated under macrs using a five-year recovery period, and has been depreciated for four full years. if the assumed tax rate is 40 percent on ordinary income and capital gains, the tax effect of this transaction is .
Answers
If the assumed tax rate is 40 per cent on ordinary income and capital gains, the tax effect of this transaction is a $7,720 tax liability.
What are capital gains?
When a capital asset is sold, its value increases, and this is referred to as a capital gain. Simply put, a capital gain happens when you sell an asset for more money than you paid for it initially. A capital asset is any form of asset you hold. This can apply to purchases made for personal consumption or as investments (such as stocks, bonds, or real estate) (like furniture or a boat). When you sell an asset, you realise capital gains by deducting the purchase price from the sale price. In certain situations, the Internal Revenue Service (IRS) taxes individuals on capital gains.
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Related Questions
What is cost plus pricing?
Answers
Answer:
Cost-plus pricing is a pricing strategy in which the selling price, of goods and services, is determined by adding a specific fixed markup percentage to a singular product's unit cost.
15 $ x 140 hours a month
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140 x 15 = 2100
Then work it into the problem
15 × 140 × 12
= $ 25200
IT IS 15 TIMES THE HOURS TIMES THE MONTHS SINCE THERE ARE TWELVE MONTHS
For a broker to have affiliates, real estate must be the broker's main occupation and the broker must be
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Answer:
financially stable.
Explanation:
must have financial capabilities
percent interest, how long does it take to double your money? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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percent interest takes to double your money in 72 years.
What is money ?Money is a medium of exchange which is used to purchase goods and services. It is a form of currency which is accepted by governments, businesses, and consumers. Money can come in many forms, including coins, bills, checks, credit cards, and electronic transfers. Money is essential for conducting transactions.
Let P = principal amount, r = rate of interest, and t = time P(1 + r)^t = 2P
To solve for t, divide both sides by P and take the natural logarithm of both sides.
㏑(1 + r)∧t = ln(2)
t ln (1 + r) = ln(2)
t =㏑(2) / ㏑(1 + r)
Plugging in r = 0.07, t = ln(2) / ln(1 + 0.07) t = 14.17 years
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in the short-run, a profit-maximizing (or loss-minimizing) purely competitive firm should close down its operation if the demand curve for its product lies below:
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A profit-maximizing purely competitive firm should continue to operate as long as its total revenue exceeds its variable costs.
In the short run, a firm should shut down if the price it receives for its product is less than its variable costs, which means it is unable to cover its variable costs and is making a loss on each unit produced.
The demand curve does not directly determine whether a firm should shut down in the short run. However, if the demand curve for the product lies below the minimum average variable cost (AVC) curve, then the firm should shut down in the short run as it will not even be able to cover its variable costs.
This is because if the demand is so low that the price is below the minimum AVC, the firm will lose money on each unit produced and it would be better for it to shut down rather than to continue operating and losing money.
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what is the poem about "a bird came down the walk"
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Answer:
It is called A bird came down the Walk by Emily Dickinson
it is not advisable for small businesses to use the services of cpas and lawyers because most businesses are too small to afford the expense. a) True b) False
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The statement "it is not advisable for small businesses to use the services of CPAs and lawyers because most businesses are too small to afford the expense" is subjective and cannot be definitively categorized as true or false.
While it is true that small businesses may have limited financial resources and may perceive the cost of hiring CPAs and lawyers as high, it does not necessarily mean that it is not advisable for them to use their services. CPAs and lawyers can provide valuable expertise and assistance in various areas such as accounting, tax compliance, legal compliance, contracts, intellectual property, and more.
The decision of whether to engage the services of CPAs and lawyers should be based on the specific needs and circumstances of the small business. Some businesses may find it beneficial to seek professional assistance, even if it requires budgeting and prioritizing resources. Others may choose to handle certain tasks themselves or seek alternative resources such as online legal services or accounting software.
Ultimately, the decision should be made based on a careful evaluation of the potential benefits, costs, and risks associated with engaging professional services, as well as the specific needs and priorities of the small business.
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explain why we always pool our statistics when testing two proportions, but almost never pool our statistics when testing two means.
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We use a technique that combines the information from the two samples to pool the sample proportions in order to estimate p.
Why do you do a two sample proportion hypothesis test using a pooled sample percentage?The most accurate point estimate of the common population percentage is a pooled estimate of p. We utilize a pooled sample percentage (p) to calculate the standard error of the sampling distribution since the null hypothesis asserts that P1=P2.
We employ the pooled form of the two sample t-test for what reason?This test statistic has the benefit that it perfectly matches the student's t-distribution with n1+ n2- 2 degrees of freedom. The stages for the hypothesis test process are the same as those in the preceding section. On the basis of sample data, it could be challenging to confirm that two population variances are equivalent.
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Interview a business owner in your local community on the negative impact of crime on his/her business and provide evidence of the interview.
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Under the temporal method, inventory at net realizable value would be remeasured for the balance sheet at what rate?
MULTIPLE CHOICE
a. Beginning of the year rate.
b. Average rate
c. current rate
d. historical rate
e. composite amount
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Under the temporal method, inventory at net realizable value would be remeasured for the balance sheet at the c. current rate.
The temporal method is a foreign currency translation method used to translate financial statements of a foreign subsidiary or branch to the reporting currency of the parent company.
Under this method, monetary assets and liabilities are translated at the current exchange rate, while non-monetary assets and liabilities, such as inventory, are translated at historical exchange rates.
However, inventory is a unique asset in that it is often carried on the balance sheet at cost, rather than historical cost or fair value. When using the temporal method, inventory may need to be remeasured at the current exchange rate to reflect changes in its net realizable value.
Net realizable value is the estimated selling price of inventory less any estimated costs of completion, disposal, and transportation.
If the current exchange rate is different from the historical rate used to value inventory on the balance sheet, then the inventory may need to be remeasured at the current exchange rate to accurately reflect its net realizable value.
Therefore, the correct answer to the question is (c) current rate.
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Starting to invest early for retirement increases the benefits of compound interest. question 26 options: true false
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The statement is False, since starting to invest early for retirement reduces the benefits of compound interest.
Compound interest, also known as interest on principal and interest, is the practise of adding interest to the principal amount of a loan or deposit. It occurs when interest is reinvested, or added to the loaned capital rather than paid out, or when the borrower is required to pay it, so that interest is generated the next period on the principal amount plus any accumulated interest. In finance and economics, compound interest is common.
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FedEx Corp. stock ended the previous year at $104.59 per share. It paid a $0.20 per share dividend last year. It ended last year at $107.89. If you owned 310 shares of FedEx, what was your dollar return and percent return? (Round your percent return answer to 2 decimal places.) Dollar return Percent return _ %
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A financial metric called return on investment (ROI) is used to gauge how profitable an investment is. It determines the rate of return or profit on an investment in relation to the investment's cost.
To calculate the dollar return on your investment in FedEx, you need to consider both the increase in share price and the dividend paid.
Firstly, you owned 310 shares of FedEx, so the total value of your investment at the end of the previous year was 310 x $104.59 = $32,438.90.
Then, the company paid a dividend of $0.20 per share, which amounts to $0.20 x 310 = $62.
Adding this dividend to the value of your shares, your total investment at the end of last year was 310 x $107.89 + $62 = $33,545.90.
Therefore, your dollar return on this investment is $33,545.90 - $32,438.90 = $1,107.
To calculate the percent return, you need to divide your dollar return by the initial investment and express it as a percentage.
The initial investment was $32,438.90, so the percent return is ($1,107 / $32,438.90) x 100% = 3.41%.
Therefore, your dollar return on your investment in FedEx was $1,107 and your percent return was 3.41%.
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how do households and business firms interact in the product and resource markets?
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In marketing, a product is an object, system, or service made available for consumer use as per consumer demand; it is anything that can be offered to a market to satisfy the desire or need of a customer.
What is the meaning of the Product?A product is anything that can be supplied to a market to satiate a customer's need or desire. In marketing, a product is an item, system, or service that is made accessible for consumer usage in response to consumer demand.
The object being sold is referred to as a product. A service or an object both qualify as products. It could take on a physical, virtual, or cyber form. Every product has a cost associated with it, and each one has a price.
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What are some factors that would influence supply? Explain
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Answer:
6 Factors Affecting the Supply of a Commodity (Individual Supply) |
Price of the given Commodity: ADVERTISEMENTS: ...
Prices of Other Goods: ...
Prices of Factors of Production (inputs): ...
State of Technology: ...
Government Policy (Taxation Policy): ...
Goals / Objectives of the firm:
Explanation:
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the value of 4 + -3 take away negative 7 is
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Answer:
-6
Explanation:
1-7 =-6
Which of the following statements describes GAAP?
A. GAAP standards are written and regulated by the government.
B. It is legally required that all companies meet GAAP standards.
C. Companies that meet GAAP standards usually use cash basis accounting.
D. GAAP recommends accrual basis accounting.
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The statement that describes GAAP is that GAAP recommends accrual basis accounting.
Generally accepted accounting principles refers to the standards and accounting rules that are used for financial reporting.The four main principles of GAAP include consistency, objectivity, materiality and prudence. It should also be noted that Generally accepted accounting principles make use of the accrual basis accounting because sales are recorded at the time that they occur. This is vital in providing a better insight into the affairs and the performance of a company.
In conclusion, the correct option is D.
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What is the importance of TNC for developing countries?.
Answers
Transnational Corporations (TNCs) have been discovered to serve international economies by acquiring multinational managerial, technical, and behavioral skills and resources, and they have made significant contributions to the economic development processes of many developed and developing countries.
What impact do TNCs have on underdeveloped countries?
Concerns about the environment - TNCs can harm the atmosphere, water, and land. Many developing countries have less stringent pollution laws than developed countries.
Why are multinational firms crucial in a country's development?
They not only bring technological advancements, but also organizational structures. Other companies can raise their management levels because national standards rise once corporations begin operating in this country. Another role can be seen in the increased circulation of money in the economy.
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Natalie believes her bath product company will do well in Europe because of her research. What might be the best way to sell her products? Choose the answer.
A.) Open another store in Europe.
B.) Create a website and sell online.
C.) Hire sales people to sell door to door.
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organizations are increasingly adjusting their processes and positioning their products as environment friendly and sustainable in order to increase their appeal to consumers. this is a response to changes in ________.
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in order to increase their appeal to consumers. this is a response to changes in Social trends.
Knowing consumer trends makes it simpler to understand how to change customer behavior. The behaviors and priorities of customers change along with businesses. Consumer preferences have changed over the past 10 years, and they will continue to do so.
Keep in mind that customer behavior patterns vary as you develop and improve your marketing plan. The need for openness in the companies that consumers support has grown over the past several years.
Nowadays, customers boycott and discard businesses with dubious practices or led by CEOs they don't agree with ideologically. Customers are more inclined to support businesses that share their own personal values and views. To earn the trust of their customers, businesses must be honest about their backgrounds and business operations.
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Which of the following are characteristics of a scarce resource?
Choose 1 answer:
Choose 1 answer:
(Choice A)
A
The supply of the resource exceeds the demand of the resource.
(Choice B)
B
There is a fixed quantity of the resource available but no demand for it.
(Choice C)
C
There is a demand for that resource with limited supply.
(Choice D)
D
There is limited supply of a resource with no demand for that resource.
(Choice E)
E
The resource has unlimited supply and limited demand.
Answers
There is a demand for that resource with limited supply are characteristics of a scarce resource. When the demand for a natural resource exceeds the supply, resource scarcity results, which causes the stock of those resources to decrease.
As a result of rising costs that make the demand resource less accessible to those who are least well-off, this might result in unsustainable supply growth and an increase in inequality. When there aren't enough resources to meet everyone's needs, there is scarce resource. Oil is among the most well-known instances of how resource scarcity affects the United States. Local gas prices will surely climb when oil prices around the world do.
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What type of product/service management did Ray do?
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Based on the information given, Ray produced New Théâtre seating that was attractive as well as comfortable for the customers. He did this by doing a product research.
What is product management?Product management is the role of overseeing a certain product inside a company. It is a function at the center of an organization that must combine the requirement to give value to your company (often profit) with what consumers desire and what is technically and operationally viable.
What precisely are product managers responsible for?A product manager is the person who identifies the consumer demand and the bigger company objectives that a product or feature will satisfy, articulates what success for a product looks like, and rallies a team to make that vision a reality.
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A company's static budget estimate of total shipping cost was 100,000 based on the assumption that 10,000 units would be produced and sold. The company estimates that 30% of this amount is variable and the remainder is fixed. What would be the total shipping cost if 12,000 units were produced and sold? a. 96,000 b. 100,000 c. 106,000 d. 116,000
Answers
106,000 be the total shipping cost if 12,000 units were produced and sold.
Variable cost for 10,000 units = (100,000*30%) =30,000
Per unit = 3
Fixed cost = (100,000-30,000) = 7,0000
Total shipping cost for 12,000 units
= (12,000*3) + 70,000
= 106,000.
Ideally, the seller pays the freight to the main port or other destination and the buyer pays the freight from the warehouse to the store or supplier.
Shipping cost means shipping and related transportation costs to receive the package from the carrier to the end user. This fee includes surcharges, fuel charges, and other costs associated with travel distance and selected delivery date.
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Help me please.. there is no option on here for Human Resources principals, so I jus clicked business as the subject..
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Answer:
it is c issue-based-model
how has the right of education addressed to differently abled person
Answers
Answer:
Differently abled person might need more resources compared to average people.
Explanation:
Let's examine blind people for example.
In order to learn, blind people require special type of books or teaching techniques. This special requirement will most likely cause cost the educational institution more compared to accommodating average students.
But , their physical disadvantages doesn't necessarily mean that the wouldn't be a productive workforce. The government need to realize that in order to fully equalize the right to obtain educations , the higher cost would become unwanted expense but extremely necessary.
The ______ inventory system records all inventory-related transactions in the inventory account (e.g. transportation, purchase returns and allowances, purchase returns and allowances, purchase discounts) and reduces inventory at the time of sale. The ______ inventory system uses separate accounts for these items and records cost of goods sold at the end of the accounting period.
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perpetual & periodic
A fan base is, in most ways, quite similar to a customer base.
A. False
B. True
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With a command economy, do individuals have choice and flexibility
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cellphones are one form of communication technology, give any other form
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Answer:
television,newspaper,radio,laptops,computer etc..
Answer:
TRANSPORT AND LANDLINES.QUESTION 4 of 10: One survey has 3 respondents, and another 100. Which survey is more likely to accurate data? a) The one with the larger sample size b) The one the smaller sample size
I need help
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Answer:
The one with the larger sample size
Explanation:
Larger sample sizes provide more accurate mean values, identify outliers that could skew the data in a smaller sample and provide a smaller margin of error.
The survey is more likely to have accurate data is the one with larger sample size. Thus the correct option is A.
What is Survey?The survey is referred to as a technique of data collection with the objective to perform research by asking questions. In surveys, a group of participants is involved in which questions related to the research are asked.
The accuracy of the average values will increase with the size of the sample. In addition to providing smaller margins of error, larger sample sizes aid researchers in discovering patterns in data.
The smaller sample size cannot be considered accurate due to its value. The smaller sample size is cost-effective and time-saving but cause more error in data collection.
Therefore, option A one with the larger sample size is appropriate.
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New oil is reserves are discovered. What has increased in supply.
A CAPITAL
B ENTERPRISE
C LABOUR
D LAND
Answers
The correct answer is D. Land
Explanation:
In economics, land is one main factor of production and includes natural resources that can be used to make products, for example, wood can be used to made furniture or fruits can be used to produce juice, jam, and similar. Also, these resources are classified into renewable and nonrenewable depending on whether they are abundant and replenish in a short time. Oil is considered part of the land factor because this is a non-renewable resource that is used to produce goods such as fuels or plastic. Therefore, if new oil reserves are discovered there is an increase in land supply because more natural resources are available to produce goods.