Answer:
$135,000
Explanation:
The realized gain can be calculated as under:
Realized Gain = Market Value received - Adjusted Basis
Here
Market Value received is $375,000 (350k + 25k)
Adjusted Basis $240,000
By putting values, we have:
Realized Gain = $375,000 - $240,000 = $135,000
Answer: Check explanation
Explanation:
a. Since Amy bought the equipment for $3700 and sold the equipment for $690, the amount that Amy can deduct for the loss of the equipment will be:
= $3700 - $690
= $3010
b. Here, the amount that Army can deduct for the loss of equipment will be the lesser of the amount Amy bought the equipment which is $3700 or the cost of the repair which is $1370.
Therefore, $1370 will be deducted.
c. After the accident, Army could not replace the equipment so she had the equipment repaired for $4,300. What amount can Army deduct for the loss of the equipment?
Here, the amount that Army can deduct for the loss of equipment will be the lesser of the amount Amy bought the equipment which is $3700 or the cost of the repair which is $4300.
Therefore, $4300 will be deducted.
Answer:
Dividend = $2.34
Explanation:
Purchase Price = $55.20
Loss on stock = 18.63% of $55.20 = $10.28
Capital Loss = $12.62
Dividend = Capital Loss - Total Loss
Dividend = $12.62 - $10.28
Dividend = $2.34
Answer:
Sumika has to file tax return since the income she earned from her internship of $12,400 is greater than the threshold for earned income which is $12,200.
Explanation:
A tax return is a form that needs to be filed by with a taxing authority as proof of income, expenses and tax deductions. The tax returns allow the tax payer to determine how much tax they are required to pay, when to make such payments and refunds for paying above the required amount. Nit everyone is eligible to file for tax returns depending on the individual and the laws governing tax payments. In the U.S for example, the are factors that determine whether your are eligible to file tax return or not. They are;
1. If one is listed as a dependent
2. Marital status; married or single
3. Age
4. Whether one is blind or not
So the gross income of an individual is checked against the above factors for that particular individual to determine the minimum threshold within which he/she should file tax returns. Generally anyone who is single, or someone claims you as a dependent, or you are not 65 or older or blind you can file your tax returns depending on your income. If your unearned income is greater than $1,100 and your earned income is also greater than $12,200, then you are eligible for filing tax returns. Unearned income is income generated from investments not directly related to employment while earned income is income that one has to work for. Sumika, James, Sean, and Amy's income is earned income. The only person who is suppossed to file tax returns is Sumika since her income ($12,400) is greater than the threshold for earned income ($12,200).
The increase in labour productivity either by the use of new technology or new techniques can be plotted up for a given product and compared with the old productivity without the increase to build up a production possibilies frontier curve to show how production increases accordingly and if possible, project it into the future somewhat.
