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zubka84 [21]
3 years ago
8

A married couple purchased their residence 5 years ago for $500,000. For 3 of the last 5 years, they rented out the property for

income, and lived in the house of 2 of those years. The clients sell the house for $800,000. How much of the gain is taxable?
Business
1 answer:
dimulka [17.4K]3 years ago
4 0

Answer:

taxable is $50,000

Explanation:

given data

purchased residence = $500000

sell house = $800000

to find out

How much of the gain is taxable

solution

we know that tax code permits the first $50000 of capital gain from sale of a personal residence to be excluded from tax for married couple

and residence can't rent out for more than 3 years of preceding 5 years

so owner use 2 years of past 5 years

and here

sold in $800000

so gain is = 800000 - 500000 = $300000

and here excluded from tax =  $300000 - $50000

excluded from tax =  $250000

so taxable is $300000 - $250000

taxable is $50,000

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On December 31, Cruise Company has 18,000 units of an inventory item, which cost $46 per unit when purchased on June 15. The sel
Maksim231197 [3]

Answer:

the inventory be reported at on the December 31 balance sheet is $828,000

Explanation:

Here the inventory should be recorded at lower of cost or net realizable value

Since the cost per unit is $46

And, the net realizable value is $48

So, the lowest cost per unit is $46

Now the ending inventory reported is

= 18,000 units × $46 per unit

= $828,000

hence, the inventory be reported at on the December 31 balance sheet is $828,000

6 0
2 years ago
________ is a set of activities and techniques firms employ to efficiently and effectively manage the flow of merchandise from t
xz_007 [3.2K]

<u>Supply Chain Management</u><u>  is a set of activities and techniques firms employ to efficiently and effectively manage the</u><u> flow of merchandise</u><u> from the vendors to the retailer's customers.</u>

  • The chance to boost sales by making sure the ideal product is available at the ideal moment. Integration of transportation middlemen, warehouses, stores, manufacturers, and suppliers into a seamless value chain.
  • reduction of system-wide costs while providing the level of service that customers demand. More variety, fewer stock outs, lower transport and inventory holding costs, and higher ROI.

Supply Chain Management What Is It?

The management of a product's creation and flow, from sourcing raw materials to production, logistics, and delivery to the final consumer, is known as supply chain management (SCM).

What are the four supply chain stages?

The four components of the supply chain—integration, operations, purchasing, and distribution—work together to create a route to competition that is efficient.

Learn more about Supply Chain Management

brainly.com/question/18850093

#SPJ4

8 0
1 year ago
A population of 478 rats has been undergoing linear growth over a five-year period. if the average growth rate was 1.4 rats per
Elanso [62]
The approximate size of the initial population of the rats five years before is 89. With average of 1.4 growth rate per year, it accumulated to 478 rats over the 5 years time. 
7 0
3 years ago
Drafi Arts Corp. makes and sells original handicraft products. The management of the company has been successfully using a niche
Lerok [7]

Answer:

It only serves a limited geographic market.

Explanation:

In this regard, it can be said that the company Drafi Arts Corp serves a limited geographic market, because it is a company that has been using a successful niche market strategy for years, which means that it manages to meet a demand for handicrafts from location, which sets up its strategy to serve a specific market.

4 0
3 years ago
Madison Corporation sells three products (M, N, and O) in the following mix: 3:1:2. Unit price and cost data are: M N O Unit sal
Xelga [282]

Answer:

Madison Corporation

The contribution margin per composite unit for the current sales mix is:

= $26.

Explanation:

a) Data and Calculations:

Products                    M            N            O

Current sales mix      3             1             2

Unit sales price      $16         $11          $13

Unit variable costs   10            9            10

Unit contribution    $6          $2           $3

Contribution margin per

composite unit    $18          $2           $6

=                      ($6 * 3)   ($2 * 1)    ($3 * 2)

b) The contribution margin per composite unit is computed as the addition of the contribution margin per composite unit for each product.  Each product's contribution margin per composite unit is calculated as the contribution per unit multiplied by the sales mix for each product.

5 0
2 years ago
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