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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

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The following cost data pertain to the operations of Swestka Department Stores, Inc., for the month of July.Corporate headquarte
Marta_Voda [28]

Answer:

$157,900

Explanation:

Given all the costs,

Total amount of the costs that are not direct cost:

= Corporate headquarters building lease + Corporate legal office salaries + Central warehouse lease cost

= $81,600 + $62,700 + $13,600

= $157,900

Therefore, the total amount of the costs listed above that are NOT direct costs of the Northridge Store is $157,900.

7 0
3 years ago
Mort is employed as brick layer. on the weekends, he also does some landscaping for several businesses and received five forms 1
Bingel [31]
<span>The answer is "$100 of interest and $50 of the personal property tax".

</span><span>Mort paid $400 of interest on the van loan
and he paid personal property tax of $200
Now,
Interest = 25% of $400 
=25/100 x 400 = 0.25 x 400 
Interest =$100

personal property tax = 25% of $200
=25/100 x 200 = 0.25 x 200
</span>personal property tax = $50<span>

</span>
4 0
3 years ago
The cost of creating an email campaign for a product or a service is typically more expensive and takes longer to conduct than a
kirill [66]

"The cost of creating an email campaign for a product or a service is typically more expensive and takes longer to conduct than a direct-mail campaign" is FALSE.

<u>Option: </u>B

<u>Explanation:</u>

Email campaigning is the practice of mailing out a promotional message via online, usually to a collection of people. Each email sent to a prospective or existing client may be regarded email advertising in its purest sense.

It automatically sends ads, soliciting business, or soliciting sales or donations via email. This process is faster than direct-campaign, because direct is time taking and hectic. Require huge manpower and not that effective as e-mailing, as people are more active and available too in online than offline.

6 0
3 years ago
Calista is researching a career in nursing. Which career resource would most likely help improve her chances of getting a job in
Serga [27]

B.)CareerOneStop

CareerOneStop is an online database of job information, career path guides, training, tools, and other resources.

4 0
3 years ago
Read 2 more answers
The asset's book value is $70,000 on June 1, Year 3. On that date, management determines that the asset's salvage value should b
aniked [119]

Answer:

The correct answer is C that is $4,062.50

Explanation:

The depreciation expense is computed as:

Depreciation expense = Book Value of asset - Salvage Value / Number of years × 6/ 12

where

Book value is $70,000

Salvage value is $5,000

Number of years is 8 because it is Year 3

Number of months is 6 months

= $70,000 - $5,000/ 8 × 6/ 12

= $65,000 / 8 × 6/ 12

= $8,125 × 6/ 12

= $4,062.50

5 0
3 years ago
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