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9966 [12]
3 years ago
9

In 2018, Mark has $18,000 short-term capital loss, $7,000 28% gain, and $6,000 0%/15%/20% gain. Which of the statements below is

correct?
(A) Mark has a $5,000 capital loss deduction.
(B) Mark has a $3,000 capital loss deduction.
(C) Mark has a $13,000 net capital gain.
(D) Mark has a $5,000 net capital gain.
(E) Mark has a $18,000 net capital loss.
Business
1 answer:
NARA [144]3 years ago
7 0

Answer:

(B) Mark has a $3,000 capital loss deduction.

Explanation:

Based on the tax bracket proposed, we deteminate the 7,000 is a short-term gain

and the second a long term gain.

First we must  offset short capital losses against short capital gains:

7,000 - 18,000 = 11,000 short-term loss

now we offset against long term, if it is gain it will be long term gain if loss short term loss:

6,000 - 11,000 = 5,000 short-term loss

Okay we end up with a total loss of 5,000 but; <u>we have a cap at 3,000 </u> . So that is all Mark can claim as a deduction in other categories against wages and salaries or to carry foward over next period

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masya89 [10]

Answer:

Option A is correct.

<u>A decrease in the Equity Investment account</u>

Explanation:

Dividend received amount decreases the investment account. Net income interest in investee account is added to the investment account.

4 0
3 years ago
If supply is unchanged, but demand increases, we can conclude that the new equilibrium:
den301095 [7]

Answer:

The correct answer is option e.

Explanation:

The supply in the given example is assumed to be unchanged. Supply being constant an increase in demand will cause the demand curve to shift to the right. This rightward shift in the demand curve will intersect the supply curve at a higher point. This will cause an increase in the price as well as quantity of output in the market.  

So, option e is the correct answer.

8 0
2 years ago
LAS1. A city government spends $1,860,000 a month on public services. Of that amount,46 percent is used for fire and police prot
Nookie1986 [14]

Explanation:

The computation is shown below:

(A) For amount spent by the city in a year for fire and police protection is

= $1,860,000 × 0.46%

= $855,600

(B) For amount spent yearly  for fire and police protection is

= $855,600 × 12 months

= $10,267,200

(A) The percentage of public employees is

Percentage of public employees = (Public employees ÷ Total employed workers) × 100

= (18,000 ÷ 90,000) × 100%

= 20%

(B) Now for federal government employ percentage

= (Federal government employees ÷ Public employees) × 100

= (6,000 ÷ 18,000) × 100%

= 33.33%

8 0
3 years ago
A borrower is seeking an FHA-insured loan. He will put the minimum 3.5% down payment and pay the upfront mortgage insurance fee
ziro4ka [17]

The APR is greater than the APOR threshold; hence, it is an example of higher priced loan.

<h3>What is APOR?</h3>

APOR  means authorized persons outside of residence and are used by government since the first lockdown in March 2020.

APOR threshold = Current APOR + 1.5%

APOR threshold = 4.672% + 1.5%

APOR threshold = 6.172%

The given APR in question is 6.474%.

In conclusion, the APR is greater than the APOR threshold; hence, it is an example of higher priced loan.

Read more about APOR

<em>brainly.com/question/13834243</em>

4 0
2 years ago
You are the executive director of a law firm. You find out that your articling student has accidentally destroyed an important p
zhenek [66]

Answer:

What is the question?

Explanation:

there are no multiple choices.. is it written response??

6 0
2 years ago
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