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Dvinal [7]
2 years ago
13

A resident of California sells Nevada real estate in an installment sale. In the current year he receives a return of principal

of $10,000, taxable gain of $2,000 and interest of $1,000. What is his California taxable income
Business
1 answer:
shepuryov [24]2 years ago
7 0

Answer:

The taxable income is $13000

Explanation:

The sell by California resident = $10000

The taxable gains = $2000

Given interest rate = $1000

Since during the year total amount received is the return of principal, gains, and interest rate. Therefore total amount = 10000 + 2000 + 1000 = $13000

Thus, the total amount received during the years is California taxable income.

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You just made the last monthly payment on a 30 year mortgage -- the house is yours! In your joyous moment, you calculate how muc
makkiz [27]

Answer:

$112,807

Explanation:

To calculate the amount of money you borrowed, you have to use the formula to calculate the present value:

PV=FV/(1+r)^n

PV= pressent value

FV= future value= 647,514

r= rate= 6%

n= number of periods of time= 30

PV=647,514/(1+0.06)^30

PV=647,514/(1.06)^30

PV=647,514/5.74

PV=112,807

According to this, you originally borrowed $112,807 for this house.

5 0
3 years ago
If a company receives $12,000 from the stockholders to establish a corporation, the effect on the accounting equation would be:_
Darina [25.2K]

Answer:

The correct answer is option A

Explanation:

A receipt of cash indicates an increase in cash which is an asset. When an asset increases, it is represented by a debit to that asset's account and the asset side of the accounting equation is also debited. Thus, a receipt of $12000 cash from stockholders will be represented by a debit or an increase to the asset account for $12000.

The other side of the transaction would be a credit to the equity for $12000 because the stockholders are the owners of the company and any capital invested by the owners in the company is represented by a credit to the equity account as the capital is credited when it increases. Thus, the effect on accounting equation will be an increase in the equity of $12000.

4 0
2 years ago
Two lines intersect and form adjacent right angles what is the realationship between the two lines
frez [133]

An angle is formed when two lines or rays or line segments meet or intersect. ... A linear pair is a pair of adjacent angles whose non-common sides are opposite rays. • When two lines intersect, the vertically opposite angles so formed are equal.

6 0
3 years ago
Computer Geeks has sales of $618,900, a profit margin of 13.2 percent, a total asset turnover rate of 1.54, and an equity multip
Natalija [7]

Answer:

21.55 percent

Explanation:

Profit margin = Net Income / Net Sales

Net Income = Profit Margin X Net Sales

Net Income = 13.2% X 618,900 = $81,695

Asset Turnover rate = Net Sales / Average total assets

Average total assets = Net Sales / Asset Turnover rate

Average total assets =  618900 / 1.54 = 401,883

Equity Multiplier = Total assets / shareholder's equity

Shareholder's equity = Total Assets / Equity multiplier

Shareholder's equity = 401,833 /1.06 = $379,135

Return on Equity = net Income / shareholder's equity

Return on Equity = 81,695 / 379135 = 0.2155 = 21.55%

8 0
3 years ago
Why are Management styles so important to an organisation success?.....
jekas [21]

Management styles are important because they effect how well a business runs and operates. Good management, teamwork, and communication make a positive work experience for the employees and a good experience for the customer. Now say that the management has bad communication and teamwork. The business will not run smoothly and customers will be less likely to return, long story short good management= good business and good business= returning customers and returning customers= profit.

6 0
3 years ago
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