Suppose that people in your community voted to eliminate all local taxes

Robin inherits 1,000 shares of Wal-Mart stock from her aunt in 2019. Accord-ing to the information received from the executor of

lana66690 [7]

Answer:

Explanation:

Adjusted Basis

Adjusted basis is balanced estimation of the first premise of a property, balanced for any capital increments or capital recuperation's.

Capital options can be in type of any expense acquired on capital upgrades or any improvement added to the property by citizen. Capital recuperation's have conspicuous sorts like deterioration and cost recuperation's and furthermore any losses and burglaries.

Ms R. acquired 1,000 loads of organization W from her auntie at a balanced premise of $55,000. Then again Mr. A life partner of Ms. R got an endowment of 1,000 supplies of organization W from his uncle having balanced premise of $7,000.

Inheritance Basis

At whatever point an individual being a citizen acquire any property, the premise of valuation of the property is honest assessment on the demise's passing. On the other hand, if the agent or manager of the bequest chooses balanced premise can be the honest assessment a half year after the date of death.

On account of Ms. R her auntie's agent accommodates a balanced premise of $55,000 which will be the honest evaluation of stocks and the equivalent will be the balanced reason for Ms. R

Gift Basis

In the event that an individual gets a blessing being property, the citizen will have a cost premise of zero which will blow up the increases when the property is sold by him. To abstain from clashing statutory standard that blessings are outside the domain of personal assessment, premise is given to beneficiary. This depends on date of blessing, premise of benefactor, blessing charge paid and honest assessment.

Endowments premise is figured in two structures, one if the removal of property brings about increase and other if removal brings about misfortune.

1. Gain: If deal brings about addition at that point balanced reason for donee will be lower of the balanced premise of the giver.

2. Loss: in the event that deal brings about misfortune, at that point balanced reason for donee will be lower of the balanced premise of the benefactor or honest evaluation on date of blessing

On account of Mr. A his uncle has a balanced premise of $7,000 which thusly will be the balanced reason for Mr. A too

Therefore, it very well may be presumed that the significant motivation behind why there is a considerable distinction between balanced premise of Ms. R and Mr. An is that, for Ms. R honest assessment is the balanced premise. Then again for Mr. A balanced premise of his uncle in his own balanced premise.

3 0

3 years ago

The revenues and expenses of Zenith Travel Service for the year ended August 31, 20Y4, follow:

Alisiya [41]

Answer:

Zenith Travel Service

Statement of Owner's Equity for the year ended August 31, 20Y4:

Capital as of September 1, 20Y3 = $456,000

Additional investment 43,200

Retained Earnings (8,400)

Drawings (21,600)

Capital as of August 31, 20Y4 $469,200

Explanation:

a) Data and Calculations:

Additional investment = $43,200

Personal withdrawal = $21,600

Income Statement for the year ended August 31, 20Y4:

Fees earned $899,600

Office expense 353,800

Miscellaneous expense 14,400

Wages expense 539,800 908,000

Net income/Retained earnings ($8,400)

b) Zenith's statement of owner's equity is a financial statement that reports the changes in the equity section of Zenith's balance sheet during the year ended August 31, 20Y4. In other words, it reports the events that increased or decreased Megan Cox's equity over the course of the year from September 1, 20Y3 to August 31, 20Y4.

8 0

3 years ago

Lithium, Inc. is considering two mutually exclusive projects, A and B. Project A costs $95,000 and is expected to generate $

Flauer [41]

Answer: The internal rate of return for project A is $26,074.38

Explanation:

Using the formula

R1/(1+K)^1 R2/(1+K)^2+ - - - Rn/(1+K)^n -

C =0

Where C = capital outlay, K=Rate of interest, R=Net cash flow

Given that K=10%, (10/100)=0.1 R1=$65,000, R2=$75,000 C =$95,000

Project A

65,000/(1+0.1)^1 + 75,000/(1+0.1)^2 - 95,000

65,000/(1.1)^1 +75,000/(1.1)^2 - 95,000

59090.91 + 61983.47 - 95,000

121074.38 - 95000

= $26,074.38

Project B

R1=$64,000, R2=$67,000,R3=$56,000, R4=$45,000 C =$120,000

64,000/(1+0.1)^1+ 67,000/(1+0.1)^2+ 56,000/(1+0.1)^3 + 45,000/(1+0.1)^4 - 120,000

64,000/(1.1)^1 + 67,000/(1.1)^2 + 56,000/(1.1)^3 + 45,000/(1.1)^4 - 120,000

58181.82 + 55371.90 + 42073.63 + 30735.61 - 120,000

= 186362.96 - 120,000

= $66,362.96

4 0

2 years ago

The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2021, included the following

77julia77 [94]

Answer:

LINDOR CORPORATION

Statement of Comprehensive Income

For the Year Ended December 31, 2021

Particulars Amount

Sales revenue $2,700,000

Less: Cost of goods sold -$1,590,000

Gross margin $1,110,000

Less: Operating expenses:

Selling & administrative exp. -$431,000

Operating income (EBIT) $679,000

Other income (expenses)

Less: Interest expenses -$59,000

Income before income tax $620,000

Less: Income tax expenses -$155,000

Net income $465,000

Other comprehensive income (net of tax)

Gain on debt securities A $74,250

Comprehensive income B $539,250

Earnings per share A/B $0.24

Calculations of Gain on debt securities, net of tax:

Gain on debt securities before tax $99,000

Less: Tax ($99,000 * 25%) -$24,750

Gain on debt securities net of tax $74,250

*Calculation of Earnings per share:

Earnings per share = Net income / Number of common shares outstanding = $465,000 / 1,900,000

= $0.24 per share

3 0

2 years ago

M's Pizza, a fast food chain, decides to explore the hospitality industry and signs a partnership with the Silverline Chain of H

Rina8888 [55]

Answer:

The correct answer is letter "D": Market development.

Explanation:

Market development is a strategy firms use to introduce a product into another existing market attracting new consumers to the same business. The strategy implies selling existing products in new geographical areas but it can also refer to selling the same goods or services to the same customers in new ways.

7 0

3 years ago