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nevsk [136]
2 years ago
14

Upon her grandfather's death, Jordan inherited 10 shares of Universal Corp. stock that had a fair market value of $5,000. Her gr

andfather acquired the shares in 1995 for $2,500. Four months after her grandfather's death, Jordan sold all her shares of Universal for $7,500. What was Jordan's recognized gain in the year of sale?
Business
1 answer:
Nastasia [14]2 years ago
4 0

Answer: Jordan's recognized gain in the year of sale is $2500.

Explanation:

Given that,

Jordan inherited 10 shares of universal corp. stock upon her grandfather's death and have a fair market value of $5000

Jordan's grandfather purchase these shares in 1995 for $2500

After four months of her grandfather's death, Jordan sold all of the shares for $7500

So,

Jordan's recognized gain in the year of sale = the value of sale - the fair market value at the time of her grandfather's death

= $7500 - $5000

= $2500

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In its income statement for the year ended December 31, 2022, Pina Colada Corp. reported the following condensed data. Operating
Slav-nsk [51]

Answer:

PINA COLADA CORPORATION

MULTIPLE-STEPS INCOME STATEMENT

Net Sales                                           $2,202,000

Cost of goods sold                           <u>(1,259,000)</u>

Gross profit                                          943,000

operating expenses                         <u>  (723,000)</u>

Operating Income                               <u>220,000</u>

Non- operating

Interest Revenue                                     36,000

Loss on disposal of plant asset              (20,000)

Interest expenses                                    (74,000)

other comprehensive income                 <u> 86,000</u>

                                                                 <u>   28,000</u>

Net income before tax                              248,000

Income tax                                               <u>   (49,000)</u>

Net Income After tax                               <u>   199,000</u>

Explanation:

8 0
3 years ago
PLS HELP!!! THANK U<br> Sample Work: Writing an Informative Essay: Prewriting BATTLING ADVERSITY
Aleonysh [2.5K]

Answer:

College essays offer an invaluable opportunity for students to dazzle admissions committees with their thoughtfulness and ability to communicate. So, it’s no surprise that experts call the essay-writing process one of the most stressful parts of applying to schools. After all, you have just a few hundred words to make a good impression.

While any college essay prompt can arouse anxiety, the Overcoming Challenges essay topic is often cause for particular concern. Those students who’ve been lucky enough not to experience trauma tend to assume they have nothing worth saying. On the other hand, students who’ve overcome larger obstacles may be hesitant to talk about them. Regardless of your particular circumstances, there are steps you can take to make the essay writing process simpler. Here are our top tips for writing the Overcoming Challenges essay successfully.

Explanation:

4 0
2 years ago
Read 2 more answers
Assume that you pay $2,849. 84 in state property taxes every year. If your property has an assessed value of $41,302, what is yo
Alex787 [66]

The property tax rate for the assessed property of $41,302 is <em><u>0.069</u></em>.

The property tax is the value holding the property paid to the statement in the form of their charges or in the form of their state revenue.

Computation:

Given,

State property tax =$2849.84

The assessed value of property =$41,302

The tax rate is computed by dividing the tax amount by the actual value of the property.

\begin{aligned}\text{Tax Rate}&=\dfrac{\text{State Property Tax}}{\text{Assessed Value}}\\\ &=\dfrac{\$2,849.84}{\$41,302}\\\ &=0.069\end{aligned}

The tax rate upon which the property tax is paid is <em><u>0.069</u></em>, that is option d. is correct.

To know more about property tax, refer to the link:

brainly.com/question/855419

4 0
2 years ago
If a 10 percent increase in both capital and labor causes output to increase by less than 10 percent, the production function is
olasank [31]

Answer:

Because of economies and diseconomies of scale.

Explanation:

Increasing returns to scale refers to the situation when a proportionate change in input leads to more than proportionate change in output. This may happen because of economies of scale.  

Economies of scale are said to happen when the average cost of production decreases with the increase in the volume of output.  

Decreasing returns to scale refers to the situation when a proportionate change in input leads to less than proportionate change in output. This may happen because of diseconomies of scale.  

Diseconomies of scale occur when a firm experiences an increase in the average total cost as the volume of output increases.

3 0
3 years ago
Besides the actual mortgage payment, which also factors into the monthly payment on a home?
Maurinko [17]

It is the property taxes that go along with the mortgage monthly payment

So the answer is C: Property taxes

The lender will generally set up an escrow account to cover for the property taxes and pay these items on your behalf when they are due

6 0
3 years ago
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