Net sales is computed by? taking:

Bill and Brenda bought their home for $150,000. They made $50,000 of improvements. They sold the home for $450,000 and paid $30,

adell [148]

Answer:

Explanation:

Capital gains tax is a tax that is levied on the profit made from the sale of a non-inventory asset. The most common sources of capital gains are through the sale of bonds, precious metals, stocks, property, and real estate.

The IRS typically allows an exclusion of up to: $250,000 of capital gains on real estate for a single person and $500,000 of capital gains on real estate for a married couple who are filing jointly.

To find the amount on which they pay capital gains:

The adjusted basis is $200,000 which is:

Initial cost of buying the house for $150,000, plus cost of improvements $50,000.

The sales price of $450,000 minus the selling expenses which cost $30,000.

The amount realized is therefore:

$450,000 - $30,000 = $420,000.

Note: They will receive an exclusion of $500,000 because they are filing jointly. So Bill and Brenda will not pay any capital gains tax.

6 0

2 years ago

Read 2 more answers

In order for a country to progress from a less developed country (LDC) to a moderately developed country (MDC), the country woul

Margaret [11]

Answer:

d) raise the per-capita income

Explanation:

A less developed country is a country with a low per capita income. They usually don't have a sustainable development.

A moderately developed country is a country that has a per capita income of between $1000 - $12,000.

Per Capita income = GDP / population

I hope my answer helps you.

7 0

3 years ago

Converse Florists & Co. reported assets of $ 1 comma 200 and equity of $ 350. What is its debt ratio? (Round your percenta

Bas_tet [7]

Answer:

70.83%

Explanation:

Given that,

Company's assets = $1,200

Equity = $350

Dept = Reported assets - Company's equity

= $1,200 - $350

= $850

Dept ratio = (Debt ÷ Total assets) × 100

= ($850 ÷ $1,200) × 100

= 0.7083 × 100

= 70.83%

Therefore, the Dept ratio of Converse Florists & Co. is 70.83%.

7 0

2 years ago

The people or organizations that may be receptive to your sales pitch are referred to as:______.

vaieri [72.5K]

The people and/or organizations that may be receptive to a sales pitch.--

prospects

What does pitch deck means?

A pitch deck is a presentation deck that is used to pitch your idea or company to any number of audiences, generally investors. One of the single most important aspects of creating an effective pitch deck is to organize it based on the audience and forum to which it is being presented.

What's a prospect in marketing?

Marketing prospects are those contacts who might become leads – in other words, 'prospective' leads. An example is an email list. Before any action has been taken, all contacts are prospective leads. They will become leads proper when they have confirmed their interest.

What is the importance of prospect?

Prospects fit your target market, have the means to buy your product or services, and are authorized to make buying decisions. A lead is an unqualified contact, while a prospect has been vetted to fit the defined criteria. Prospect tracking is important for the sales process

Learn more about sales pitch:

brainly.com/question/16091822

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8 0

1 year ago

Mandel transferred property to his new corporation in a section 351 transaction. Among the several properties transferred by Man

JulsSmile [24]

Answer:

False

Explanation:

§ 351 establishes that businesses shall not recognize any capital gain or loss from property transferred to them in exchange of stocks or partnership share. So the businesses have to record this type of transactions at their fair market value and not their tax basis.

5 0

2 years ago