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Vika [28.1K]
3 years ago
13

Bridget, a single taxpayer, sold a building used in her business during the current year. The realized gain on the sale was $135

,000. Of this amount, $95,000 is unrecaptured Section 1250 gain. How will Bridget be taxed on this gain assuming her marginal tax rate is 32 percent and her LTCG rate is 15%?

Business
1 answer:
Marysya12 [62]3 years ago
3 0

Answer:

$95,000 will be taxed at 25% and $40,000 will be taxed at 15%

Explanation:

(See attachment below for Long-term capital gains tax rate)

Depending on income and marital status, the long-term capital gains tax rates are 0%, 15% and 20% respectively.

Bridget is single and her realised gain is $135,000

Out of which $95,000 is unrecaptured Section 1250 gain.

The capital gain attracts 15%

(See attachment below)

The capital gain is calculated as

$135,000 - $95,000 = $40,000

The $95,000 will be taxed at 25% under the unrecaptured Section 1250 gain.

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At its date of​ incorporation, McCarty Company issued​ 100,000 shares of its​ $10 par common stock at​ $11 per share. During the
Paul [167]

Answer:

(C) Decrease No effect

Explanation:

at purchase:

30,000 shares x 16 dollars each:

Treasury stock  480,000 debit

              Cash              480,000 credit

--purchase of own share--

Then we will decrease retained earnings for the difference in the cash proceed on the sale and our treasury stock.

30,000 x 12 dollars = 360,000 cash proceeds

treasury stock             480,000

decrease in RE            120,000

cash                         360,000 debit

retained earnings    120,000 debit

        Treasury Stock                      480,000 credit

8 0
4 years ago
Hadley, Inc. manufactures a product that uses $18 in direct materials and $5 in direct labor per unit. Under the traditional cos
Rama09 [41]

Answer:

Total Manufacturing cost per unit is $53

Explanation:

Manufacturing cost is the cost used to manufacture a product, both direct and indirect cost incurred in manufacturing process are included. It is the total value of material cost, labor cost and overhead cost.

Direct Material Cost = $18

Direct Labor cost  = $5 per hour

Manufacturing overhead applied = $13 per unit

Total Activity rate = $30

Activity based costing is the method of allocation of overhead to the products / department / projects on the basis of uses of activity by each one.As we know that calculating an activity rate which is similar to predetermined overhead rate.

Total Manufacturing Cost = Direct material cost + Direct Labor cost + Manufacturing overhead cost

As we know that calculating an activity rate which is similar to predetermined overhead rate. so the activity rate will be used for overhead expense.

Total Manufacturing Cost = $18 + $5 + $30 = $53 per unit

6 0
4 years ago
Nikhil is a design manager for a production company. He independently assigns teams, chooses projects, researches trends, and is
Papessa [141]

Answer: Based on this description, it's safe to say that Nikhil's job is high in c. autonomy.

Explanation:

What is meant by an autonomy character?

This is a person who is able to decide or make decisions without being forced to do so they are independent individuals who can take control of their own tasks at a very high standard level. They are professionally capable of using their freedom to make exceptional decisions that are well thought of and of high standard.

Nikhil works independently , is able to distribute the work to the team and is able to provide proper standard report every month without being told or forced to do so this qualifies under autonomy.

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3 years ago
Sort the examples below into the appropriate bin. Think about which factors could lead to more toxic substances being released i
Zielflug [23.3K]

Answer:

1. Causes: commercial production of many chemicals massive use of chemicals in food, agriculture, medicine, and industry

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Explanation:

This factors could lead to more toxic substances being released into the environment (causes), the consequences that result from toxic substances in the environment, and possible solutions to save environmental degradation.

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