The total amount that you owe for income tax in one year is your tax

Hugo Inc., a calendar year taxpayer, sold two operating assets this year. The first sale generated a $38,700 Section 1231 gain,

Alex17521 [72]

Answer:

$20,700 ordinary loss

Explanation:

Based on the information given if the first Operating assets generated a gain of the amount of $38,700 while the second assets generated a loss of the amount of $59,400 after been sold out which indicate or means that Hugo should recognize the amount of $20,700 ORDINARY LOSS which is calculated as :

Ordinary loss =-$59,400+$38,700

Ordinary loss =-$20,700

Therefore As a result of these sales, Hugo should recognize:$20,700 ORDINARY LOSS

6 0

3 years ago

What is Laissez faire ?

Zinaida [17]

We had it and lost it due to the concepts that people thought businesses had to much free reign to do what they wanted so the government started passing regulations de facto giving the freedom that businesses had and making it power for the government.

4 0

3 years ago

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queens city has outstanding $5 million in general obligation term bonds used to finance the construction of the new city library

Morgarella [4.7K]

The maximum amount of interest payable that may be included on the balance sheet of the debt service fund of sue city on June 30 would be 150k.

the maximum amount of interest payable on the balance sheet = 5000000×6%/2 = 150000

In finance and economics, interest is payment from a borrower or deposit-taking economic group to a lender or depositor of a quantity above compensation of the major sum (this is, the amount borrowed), at a particular rate. it's miles awesome from a charge that the borrower may additionally pay the lender or some 0.33 celebration. it is also wonderful from a dividend that is paid with the aid of an enterprise to its shareholders (proprietors) from its income or reserve, but no longer at a selected price decided beforehand, alternatively on a pro-rata foundation as a percentage within the praise gained through hazard taking marketers whilst the sales earned exceeds the whole fees.

As an example, a patron might generally pay interest to borrow from a financial institution, so they pay the financial institution a quantity that is more than the amount they borrowed, or a customer can also earn interest on their savings, and so they'll withdraw greater than they at first deposited. In the case of financial savings, the customer is the lender, and the financial institution performs the role of the borrower.

To learn more about your Interest visit here:

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3 0

1 year ago

If the market wage decreases from 30 ($/hr) to 20 ($/hr), what is the decrease inthe net benefit achieved from working in the ec

igomit [66]

Answer:

Please see below

Explanation:

A. Decreasing the wage rate leads to an increase in the quantity of labor demanded. Which leads to increased production and ultimately can lead to an increase in a firm's profit if other factors are left constant.

B. The two factors at work is demand and supply.

8 0

3 years ago

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Wildhorse Company provides the following information about its defined benefit pension plan for the year 2017.

GrogVix [38]

Answer:

Pension Expense = $104,730

(See explanation for worksheet)

Explanation:

Pension worksheet inserting January 1, 2017, balances, showing December 31, 2017.

Computation of pension expense:

Service cost ------------------------------------ $91,100

Interest cost ($694,300 x 10%) --------- $69,430

Expected return on plan assets ------ ($65,100)

Prior service cost amortization ----------- $9,400

Pension expense for 2017 is then calculated by:

Service Cost + Interest Cost + Prior Service Cost Amortization - Expected Return on Plan Assets

Pension Expense = $91,000 + $69,430 + $9,400 - $65,100

Pension Expense = $104,730

4 0

3 years ago