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marin [14]
3 years ago
6

The recapture of depreciation changes the character of the gain on a Section 1231 asset from a(n) _________ gain to ________ inc

ome.
Business
1 answer:
BlackZzzverrR [31]3 years ago
5 0

Answer:capital

ordinary

Explanation: A section 1231 asset is a kind of property that is held for more than one year as defined by section 1231 of the United States Internal Revenue Code. This property is real or depreciable assets. Section 1231 assets include: buildings, land, machinery, livestock, leaseholds etc.

For the recapture of depreciation to exist there must be a sale of a section 1231 sold at a gain. However the gain that is realised must be reported as an ordinary income for tax purposes. Thereafter if the selling price of this asset is higher than the tax basis then the difference is essentially recaptured. This done by changing it from a capital gain to ordinary income.

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Why is it important for cashiers and clerks to enjoy dealing with people?
Korolek [52]

Answer:

C. -Because They are responsible for customer satisfaction

Explanation:

Every Cashier is responsible for making sure that the customer Gets what he or she needs. and ever customer should be treated fairly. Every Customer should be happy when Getting Served.

3 0
3 years ago
A microeconomist might study which of the following? how inflation changes over time for several countries how money supply aggr
Anastaziya [24]

Answer:

why wages for females are lower than for males in a particular labor market

Explanation:

Economics is the study of how people decide and how these decisions affect the world around them. Microeconomics focuses on particular markets, individuals and organizations, whereas macroeconomics focuses on the entire economy.  

Response is “ why wages for females are lower than for males in a particular labor market” because there the micro-economist would focus on a particular market: the labor market, and tries to understand the wage gap between female and male workers.

The remaining options focus on large scale factors on a “macro” level and thus do not pertain to the study of “micro”economics .

8 0
3 years ago
High Country Corporation acquired two inventory items at a lump-sum cost of $80,000. The acquisition included 6,000 units of pro
SCORPION-xisa [38]

Answer:

$9,000

Explanation:

Calculation for the amount of gross profit that should be recognize

First step is to calculate the

A's sale value = 6,000 unit*12 per unit

A's sale value = $72,000

Second Step is to calculate B's sale value

B's sale value = 14,000 units*4 per unit

B's sale value= $56,000

Third step is to calculate the Total sale value

Total sale value = $72,000 + $56,000

Total sale value= $128,000

Fourth Step is to calculate the Cost of goods sold of A for 6,000 units and 2,000 units

Cost of goods sold of A for 6,000 units = ($72,000/$128,000) * $80,000

Cost of goods sold of A for 6,000 units = 0.5625*$80,000

Cost of goods sold of A for 6,000 units= $45,000

Cost of goods sold of A for 2,000 units = $45,000*2,000/6,000

Cost of goods sold of A for 2,000 units = $15,000

Last step is to calculate the Gross profit of A for 2,000 units

Gross profit of A for 2,000 units = (2,000*12 per units) - 15,000

Gross profit of A for 2,000 units = $24,000 - $15,000

Gross profit of A for 2,000 units = $9,000

Therefore the amount of gross profit that should be recognize will be $9,000

7 0
2 years ago
sale of merchandise on account for $36,000 is subject to an 8% sales tax. a. Should the sales tax be recorded at the time of sal
aleksandr82 [10.1K]

Answer:

a.Sales tax to be recorded at the time of sales.

b.36000

c.38880

d.Sales tax payable

Explanation:

a.Because sales tax is subjected to sales so it is liability of seller to charge sales tax to customer.

b. Sales = $36000

c.Account receivable = [36000+(36000*8%)]=36000+2880=38880

       Entry: Dr  Account receivable  38880

                                                      Sales                  36000

                                                   Sales tax payable  2880

d. Sales tax payable, it is liability for a seller to refund to government treasury.

6 0
3 years ago
As mario is filling out his income tax forms, he makes the decision not to report all of his income. he figures that it is okay
Roman55 [17]
Mario is exhibiting the defense mechanism: rationalization. Mario justifies his controversial decision and behavior (his decision not to report all of his income)  in rational or logical manner. This defense mechanism has two steps. The first step is the <span>decision itself with no reason, and the second step is when the <span>rationalization is performed</span></span> .
6 0
3 years ago
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