All categories

3 years ago

Byron is a wealthy tycoon who makes his money buying and selling stocks. This is an example of _____ income.

2 answers:

8 0

A. we know it is not c or d cuz they would not fit but a and b are our options the answer would be B IF he was a worker but in this case he makes his money from a profit and pays the workers (they earned it) so it is A

tatuchka [14]3 years ago

8 0

Answer: (C) Capital Gain Income

Explanation: Byron is making money through buying and selling of stocks. When a stock is bought and sold within 3 years, it is considered as short term capital gain. When a stock is bought today and sold after 3 years, it results into long term capital gain. Hence, the answer is Capital Gain income.

The other options are earned , hourly and passive are not relevant.

You might be interested in

ou are a producer of cold medicine. Last month, a flood at your factory eliminated 50% of your firm’s production capability. At

Scilla [17]

Answer:

The flood shifts the supply to the left.

The increase in healthcare costs shifts the supply curve to the left.

Explanation:

An increase in the cost of production inputs (increase in health costs) or a decrease in the availability of resources (the flood reduced the firm's production capability), will shift the supply curve to the left.

A leftward shift of the supply curve will lower the quantity supplied and will increase the price of the good at every level of demand.

6 0

3 years ago

Clarice became very ill in August of 2019 and was unable to work the rest of the year. She had only $30,000 of income from her j

CaHeK987 [17]

Answer:

total taxable income = $73,000

tax liability = $7,505

Explanation:

Clarice's ordinary income $30,000

Clarice's capital gains:

selling of stock = $34,000 - $16,000 = $18,000
selling of coin collection = $55,000 - $30,000 = $25,000
total long term capital gains = $43,000

Clarice's taxable income = $73,000

Clarice's ordinary income tax rate 2011:

ordinary income = $30,000 - standard deduction $5,800 = $24,200

10% on taxable income from $0 to $8,500 = $850
15% on taxable income over $8,500 to $34,500 = $2,355

ordinary income taxes = $3,205

Clarice's capital gains tax rate 2011 = 10%

capital gains taxes = $43,000 x 10% = $4,300

total tax liability = $7,505

5 0

3 years ago

The national pork board of the united states wants to create more consumer demand for pork products. the board decides on how to

AleksAgata [21]

Teheheheehhehehehehehheehhehehehehe

5 0

3 years ago

Read 2 more answers

The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance a

Rasek [7]

Answer:

Bank Reconciliation Statement as of July 31, 2017

Balance at Bank as per cash book (up to date) $35,480

Add Unpresented Cheques :

No. 3031 $1,570

No. 3065 $561

No. 3069 $2,338

Less Lodgements not yet credited ($10,132)

Balance as per Bank Statement $29,817

Explanation:

Step 1 Bring the Cash Book (Bank Balance ) up to date

Debit :

Balance as at July 31 $25,699

Note Payable $9,000

Evan Shaw $805

Totals $35,504

Credit:

Check No. 3056 Understated $10

Bank service charge $14

Balance (Up to date) $35,480

Totals $35,504

Step 2 Prepare a bank reconciliation for this company

Bank Reconciliation Statement as of July 31, 2017

Balance at Bank as per cash book (up to date) $35,480

Add Unpresented Cheques :

No. 3031 $1,570

No. 3065 $561

No. 3069 $2,338

Less Lodgements not yet credited ($10,132)

Balance as per Bank Statement $29,817

4 0

3 years ago

Parties more interested in managerial accounting data than in financial accounting data include

zvonat [6]

The phase of accounting that is concerned with providing information to managers for use within the organization.

Production manager, VP of Business Planning, Controller

8 0

3 years ago