Answer:
The answer is below
Explanation:
Given that Section 1231 assets are a term that is used to describe the real or depreciable trading property acquired for more than a year. For example, landed property, buildings, etc.
Hence, in this case, the correct answer or statement to the question are:
1. If Section 1231 assets are sold and the taxpayer has a realized loss, the loss is a fully deductible ordinary loss
2. If Section 1231 assets held long-term are sold for a realized gain, the taxpayer has a potential long term capital gain that may be taxed at favorable capital gains rates but this result often does not occur
Answer:
False
Explanation:
In the given question it is mentioned that the employees earned vacation pay of $35,000 during the first year of the operation.
Hence,
the expenses should be recorded as the vacation pay expenses in the same year not in the following year i.e the second year whether the employees take the vacation in the same year or the next year.
Answer:
Balance of Stockholder's Equity at December 31 is $1,910,000.
Explanation:
This will appear as follows
Idaho Company
<u>Details $ </u>
Stockholder's Equity:
Common Stock 525,000
Preferred Stock 500,000
Additional Paid-In Cap. - Common Stock 625,000
Additional Paid-In Cap. - Preferred Stock 50,000
Treasury Stock (40,000
)
Retained Earnings <u> 250,000 </u>
Balance at December 31 <u> 1,910,000 </u>
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Answer:
option (D) $50 billion.
Explanation:
Data provided in the question:
Additional investment spending = $20 billion
MPC = 0.6
Now,
Increase in aggregate demand = [1 ÷ (1 - mpc) ] × Investment
or
Increase in aggregate demand = [1 ÷ (1 - 0.4) ] × $20 billion
or
Increase in aggregate demand = (1 ÷ 0.4) × $20 billion
or
Increase in aggregate demand = 2.5 × $20 billion
or
Increase in aggregate demand = $50 billion
Hence.
the correct answer is option (D) $50 billion.
