1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Elodia [21]
3 years ago
6

Kimberly, a single taxpayer, sold three capital assets during September 2019. She sold a collectible painting held five years fo

r a gain of $3,000; stock held three years for a loss of $1,000; and stock held seven years for a gain of $5,000. Kimberly’s ordinary income marginal tax rate is 32% and her Regular LT Capital Gain tax rate is 15%. Compute Kimberly’s additional tax due as a result of these capital transactions.
Business
1 answer:
lawyer [7]3 years ago
5 0

Answer:

$1,050

Explanation:

since these three transactions involved capital gains or losses (investments lasted more than 1 year), they will be taxed using the capital gains tax rate = 15%

total capital gains = $3,000 (painting) + $5,000 (stocks) - $1,000 (other stocks) = $7,000

total taxes due = $7,000 x 15% capital gains tax rate = $1,050

You might be interested in
Summarize the main points of a wise investment strategy
mestny [16]

Answer:

Strategy 1: Value Investing.

Strategy 2: Growth Investing.

Strategy 3: Momentum Investing.

Strategy 4: Dollar-Cost Averaging.

4 0
3 years ago
How will a reduction in the price of cotton (a key resource to make jeans) influence the market for blue jeans?
Savatey [412]

Answer:

d. The cost of producing blue jeans will fall, and the supply curve for blue jeans will shift to the right

Explanation:

If the price of cotton falls, the cost of producing blue jeans would fall. As a result of the fall in the cost of production, more producers would be attracted to the industry and production would increase. Increase in supply of blue jeans would shift the supply curve to the right.

I hope my answer helps you

5 0
3 years ago
A monopolist has four distinct groups of customers. Group A has an elasticity of demand of​ 0.2, B has an elasticity of demand o
Bumek [7]

Answer:  Group A

Explanation:

Price Elasticity of demand refers to the sensitivity of quantity demanded given a change in price. In other words, how much will quantity demanded change if price changes. Higher elastcities mean that when prices change, their quantity demanded changes more. For instance, an elasticity of demand of 2 means that when prices rise by 2%, demand will decrease by 4%.

The group that will be paying the most therefore will have to be the group that is least sensitive to paying that high price. That would be Group A. As they are not very sensitive to price changes with an elasticity of 0.2, the Monopoly can increase their price to a higher point than others knowing that they won't demand less goods.

5 0
3 years ago
Libre, Inc. has experienced bad debt losses of 5% of credit sales in prior periods. At the end of the year, the balance of Accou
Mama L [17]

Answer:

The estimated bad debt expense for the year amounts to $9,400

Explanation:

The  estimated bad debt expense  for the year is computed as:

As the percentage of credit sales method is used for estimating the bad debt expense. Therefore, it is computed as:

Bad debt expense = Net Credit Sales × Estimate Percent

where

Net credit sales amounts to $188,000

Estimate percent is 5%

So, putting the values above:

Bad debt expense = $188,000 × 5%

Bad debt expense = $9,400

Therefore, the bad debt expense amounts to $9,400

3 0
3 years ago
The following information relates to a company's defined benefit pension plan at December 31:Accumulated benefit obligation1,035
lawyer [7]

Answer:

B.$513,000

Explanation:

The pension liability of a company as at December 31, is to be calculated in the following manner:

Pension liability=Projected benefit obligation-Plan Assets(fair value)

                           =1,250,000-737,000

                           =$513,000

So based on the above discussion, the answer is B.$513,000

7 0
3 years ago
Other questions:
  • Karen Price has determined that her net worth is $56,000, excluding her home. She owes $80,000 on her mortgage and $13,000 on a
    11·1 answer
  • Several reporters approach the governor as he exits a meeting. They shout questions, asking about his plan to deal with prison o
    14·1 answer
  • Which of these is an effective way of guiding, modifying, and disciplining a child?
    12·1 answer
  • Tayler Company reported the following data.
    10·1 answer
  • Which of the following tells you how much your credit card interest will be if you only pay the minimum balance each month?
    11·1 answer
  • How have the division and coordination of labor evolved at merritt's bakery from its beginnings to today?
    15·1 answer
  • The Republic of Argonia, owing to its vast resources of arable land and fresh water, is an agrarian nation It exports agricultur
    14·2 answers
  • The vigor of IPR protection is highly related to a country's stage of ________.A) economic developmentB) cultural heterogeneityC
    10·1 answer
  • China Imports Inc. sold 10,000 units in May. Per unit selling price and variable expense were $23 and $15, respectively. Fixed e
    10·1 answer
  • What areas are of universal relevance to diversity in organizations, regardless of one's location in the world?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!