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ANTONII [103]
4 years ago
13

Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart ha

s a marginal tax rate of 32 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem): (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) Required: a1. What is the amount and character of Hart’s recognized gain or loss if the asset is tangible personal property sold for $450,000? a2. Due to this sale, what tax effect does Hart have for the year?

Business
1 answer:
Naily [24]4 years ago
4 0

Answer

The answer and procedures of the exercise are attached in the following images.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in 2 sheets with the formulas indications.  

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3. Why would the sale of counterfeit products through its sites be damaging to Alibaba?
timurjin [86]

Reputation.

If a company has a bad reputation of allowing the sale of counterfeit goods, buyers will not trust the site and will not buy from it.

3 0
3 years ago
Read 2 more answers
York Casting Services started the year with total assets of $110,000 and total liabilities of $50,000. The revenues and the expe
Wittaler [7]

Answer:

Net income:                             $

Revenue                             140,000

Expenses                            (50,000)

Dividend paid                    <u> (70,000)</u>

Net income                        <u> </u><u>20,000</u><u>   </u>      

Net income is the amount of increase in stockholders' equity.                                                          

Explanation:

Net income is the excess of revenue over expenses and dividend. A positive net income increases the stockholders' equity. Common                                                                                                                                                      stockholders are legal owners of a company, thus, any income not distributed as dividend increases their equity.                                                            

6 0
3 years ago
Which of these fees is paid at the closing when a home purchase is finalized?
sleet_krkn [62]
<u>d.) Title insurance</u> is one of the fees that is paid at the closing of a home purchase when it is finalized.

There are two types of title insurance.
1) Lender's Policy Title Insurance - this is an insurance to assure the lender the you own the home and that the mortgage applied is a valid lien. This happens when you buy a house through bank financing.
2) Owner's Policy Title Insurance  - this is an insurance policy that protects you as the owner of the house when third party contests your ownership of the house.

8 0
3 years ago
During periods of decreasing costs, the use of the LIFO method of costing inventory will result in a lower amount of net income
gladu [14]

Answer:

b. False

Explanation:

LIFO stand for Last in First Out. This means LIFO inventory valuation is based on earlier goods purchased.

So, when costs are decreasing, they are affecting latter prices and this usually affect FIFO (First in First Out) not LIFO.

7 0
3 years ago
According to the semistrong form of the efficient markets hypothesis, ____________.A. stock prices do not rapidly adjust to new
solmaris [256]

Answer:

The correct answer is option B.

Explanation:

According to the efficient market hypothesis, when the market is in semi-strong form the future changes in the stock prices cannot be predicted by the publicly available information.  

The stock prices quickly adjust to all the publicly available information. In this situation, an investor can earn above-average returns if he possesses private information which is not available to all.

3 0
4 years ago
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