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dimaraw [331]
2 years ago
9

Elliott has the following capital gain and loss transactions for 2021. a. Short-term capital gain $1,500 b. Short-term capital l

oss (3,600) c. Long-term capital gain (28%) 12,000 d. Long-term capital gain (25%) 4,800 e. Long-term capital gain (15%) 6,000 f. Long-term capital loss (28%) (4,500) g. Long-term capital loss (15%) (9,000) After the capital gain and loss netting process, what is the amount and character of Elliott's gain or loss
Business
1 answer:
vazorg [7]2 years ago
4 0

The net short term capital loss for Elliott for 2021 will be $(2100); and the net long term capital gain will be $9,300.

<h3>What is capital gain?</h3>

The gain or positive returns made on the investment or engagement of money during a particular period is known as a capital gain. A short term capital gain is derived within 1 year; and long term is more than a year.

Hence, the capital gains and losses made by Elliott are aforementioned.

Learn more about capital gain here:

brainly.com/question/24084696

#SPJ1

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JPR Company's preferred stock is currently selling for $28.00, and pays a perpetual annual dividend of $2.00 per share. Underwri
scoundrel [369]

Answer:

8%

Explanation:

Data provided in the question

Current selling price of the preferred stock = $28

Annual dividend = $2 per share

Flotation cost = $3 per share

Firm tax rate = 40%

So by considering the above information, the cost of new preferred stock is

= Annual dividend per share ÷ (Current selling price of the preferred stock - Flotation cost)

= $2 ÷ ($28 - $3)

= $2 ÷ $25

= 8%

We simply applied the above formula so that the cost of preferred stock could arrive

7 0
3 years ago
Data concerning three of the activity cost pools of Salcido LLC, a legal firm, have been provided below: Activity Cost Pool Tota
igor_vitrenko [27]

Answer:

Estimated manufacturing overhead rate (Meeting with clients)= $170 per hour

Explanation:

Giving the following information:

Activity Cost Pool -  Total Cost -  Total Activity

Researching legal issues $ 22,130 and 750 research hours

Meeting with clients $ 1,270,410 and 7,473 meeting hours

Preparing documents $ 93,490 and 5,850 documents

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate (Meeting with clients)= 1,270,410/7,473= $170 per hour

3 0
3 years ago
g Which of the following is true about T accounts? a.The left side of a T account is called the credit side. b.The right side of
svp [43]

Answer:

cl i think the answer is A

6 0
3 years ago
Jake Werkheiser decides to invest $5000 in an IRA at the end of each year for the next 12 years. If he makes these investments,
Oxana [17]

Answer:

Jake Werkheiser will have $170,322.48 at the end of 12 years.

Explanation:

We use the following formula to find the future value,

S=R[\frac{(1+i)^n-1}{i}](1+i)

S= future value

R= yearly payment =$5000

i= rate of interest = 9%=0.09

n =time =12 years.

Now putting the value of i, n, R

S=5000[\frac{(1+0.09)^{12}-1}{0.09}](1+0.09)

 =$170,322.48

Jake Werkheiser will have $170,322.48 at the end of 12 years.

5 0
3 years ago
Below are the simplified current and projected financial statements for Decker Enterprises. All of Decker's assets are operating
Mkey [24]

Answer:

Decker Enterprises

Based on the projections, Decker will have:___________:

b.) a financing surplus of $36

Explanation:

a) Data and Calculations:

Income Statement            Current        Projected

Sales                                     na              1,500

Costs                                    na              1,050

Profit before tax                   na                450

Taxes                                    na                 135

Net income                           na                315

Dividends                              na                95

Balance sheets    Current  Projected                          Current   Projected

Current assets        100        115          Current liabilities 70          81

Net fixed assets   1,200    1,440          Long-term debt 300      360

                                                             Common stock 500      500

                                                        Retained earnings 430      650

Total                    1,300     1,555            Total              1,300     1,591

b) Financing surplus             36

c) Decker Enterprises does not need additional financing, but has excess financing because the Liabilities and Equity are greater than the assets.

8 0
3 years ago
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