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11111nata11111 [884]
3 years ago
14

Mrs. Beld sold marketable securities with a $79,600 tax basis to her daughter for $60,000 cash. Two years later, the daughter so

ld the securities through her broker for $93,000. Compute the daughter's gain recognized on sale.
Business
1 answer:
Ksenya-84 [330]3 years ago
8 0

Answer:

$13,400

Explanation:

Data provided in the question:

Tax basis of marketable securities = $79,600

Amount for which securities sold to daughter = $60,000

Amount for which daughter sold the  securities = $93,000

Now,

Mrs. Beld disallowed loss on the related party sale to her daughter

= Tax basis of marketable securities - Amount for which securities sold to daughter

= $79,600 - $60,000

= $19,600

Realized gain by her daughter = $93,000 - $60,000

= $33,000

Therefore,

The daughter's gain recognized on sale

= Realized gain by her daughter - Mrs. Beld disallowed loss

= $33,000 - $19,600

= $13,400

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The money supply is $6,000,000, currency held by the public is $2,000,000 and the reserve-deposits ratio is 0.25. Find deposits,
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Answer:

Please find the detailed answer below.

Explanation:

PART 1:.

a. Deposit = money supply - currency held

$6,000,000 - $2,000,000

= $4,000,000

b. Bank reserve is reserve-deposit ratio x deposit

0.25 x $4,000,000

=$1,000,000

c. Monetary base = currency held + bank reserve

$2,000,000 + $1,000,000

=$3,000,000

d. Money multiplier= money supply/monetary base

$6,000,000/$3,000,000

=2

PART 2.

a. Bank reserve

$4,000,000 + $1,000,000

=$5,000,000

b. Money supply= currency held + bank deposit

Currency held= base - reserve

$10,000,000 - $5,000,000

= $5,000,000

Therefore money supply is

$5,000,000 + $20,000,000

=$25,000,000

c. Money multiplier= money supply/monetary base

$25,000,000/$10,000,000

=2.5

6 0
2 years ago
A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way t
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3 years ago
How long after a tax taking can a treasurer begin land court proceedings?
mariarad [96]

Answer:

D. 180 days

Explanation:

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The principal purpose of taxation is to elevate sales for the services and profits that help the network's desires. Public revenues ought to be good enough for that motive. 2. Tax should, as far as viable, be levied equitably, consistent with the potential to pay.

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6 0
1 year ago
Maggie and her family run a 600 acre farm in the Brazos Bottom. Her two crops are corn(x) and cotton(y). The farm’s revenue func
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Answer:

Explanation:

the picture attached shows all the explanation needed

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