Answer:
Rebecca has a $150 realized loss on the scooter and a $300 realized gain on the painting
Explanation:
The question when looked from a taxation point of view centers on capital gains.Capital gains are gains on which a company or an individual pays capital gains tax upon disposal of their assets .
Since Rebecca bought the scooter for $700 but disposed of at $550 , it follows that Rebecca received $150 less from the purchaser, which is the realized loss on scooter's sale.
Also, the proceeds received by Rebecca on the painting was $300 much more than the cost of the painting,this refers to the gains recorded upon outright sale of the painting
If You Had the same ABCD Answers as one Before, The Answer out of These:
A. Transportation
B. Medical Expenses
C. Housing
D. Food
The Answer would Be B) Medical Expenses.
Answer:
Explanation:
Cost of inventory = Purchase cost + Transportation cost - Purchase return - Purchase discount
Purchase cost = 23,400
Transportation cost = 690
Purcahse return = 1300
Purchase discount = (23400 - 1300)*3% = 663
Cost of inventory = 23,400 +690-1300-663 = 22,127
Answer:
$8,000
Explanation:
The following compensation cost shall be recognised in the accounts of the Company as at December 31, Year 1 in respect of employee share options:
5,000*8*1/5=$8,000
In the above calculation, 5000 represents number of share granted to employee,8 represent the fair value of the option at the grant dated and 1/5 represent first year of the 5-year requisite service condition for the exercise of share options.
