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
-Dominant- [34]
3 years ago
9

Jeanie acquires an apartment building in 2008 for $280,000 and sells it for $480,000 in 2019. At the time of sale there is $60,0

00 of accumulated straight-line depreciation on the apartment building. Assuming Jeanie is in the highest tax bracket for ordinary income and the Medicare tax on net investment income applies, how much of her gain is taxed at 28.8 percent?
Business
1 answer:
Evgen [1.6K]3 years ago
8 0

Answer:

$60,000

Explanation:

According to section 1250 of the Internal Revenue Service, the depreciation previously allowed as a deduction would now be taxed in the case of ordinary income at the highest tax level.

And,  For this, the asset should be depreciated real property.

In the question, there is depreciation charged for apartment building so the same is eligible

The eligibility is allowed up to $60,000 and the same is to be considered

You might be interested in
As a contemporary manager, your employees will perceive that their opinions are more valued if: you provide settings where emplo
erma4kov [3.2K]

Answer:

 you provide settings where employees have the opportunity to converse with all levels of management.

Explanation:

In simple words, employees feel motivated and values when they fell involved in the decisions inside the organisation, as these decisions affects them too.

    Generally, the core decisions in any organisation are taken by top managers but they too are dependent on lower level managers for the data they receive. Hence, a network should be set for employees so they can give their suggestions to  all levels of managers.

6 0
3 years ago
Which is the difference between marginal cost and marginal revenue
Vinil7 [7]

Plsss hit as brainliest

4 0
3 years ago
Kimbeth Manufacturing uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The foll
larisa86 [58]

Answer:

DM Cost per Equivalent unit: 4.25

Explanation:

22400 beginning  60% materials 20% conversion

140,000 started

33600 ending 90% materials 40% conversion

Beginning Inventory

DM 71,160

DL 26,610

MO 20,110

Conversion Cost  46,720

Cost during the month

DM 618,800

DL 241,330

MO 513,600

Conversion Cost 754,930

Equivalent units Materials

22,400 * .4     8,960

140,000       140,000

33,600 * .1    (3,360)

                  145,600

DM Cost per Equivalent unit: 4.25

7 0
3 years ago
g Samco signed a 5​-year note payable on January​ 1, 2018​, of $ 475 comma 000. The note requires annual principal payments each
Tanya [424]

Answer:

B. a debit to Interest Expense for $ 42 comma 750.

C. a credit to Cash of $ 137 comma 750.

Explanation:

Payment of Note Payable includes the payment of interest on the outstanding balance and principal amount of the note. In this question it is the first payment of the note payable, so the outstanding balance is the face value of the note, Interest is calculated using this value, A fix payment of $95,000 is also made.

As per given data

Principal Payment = $95,000

First Interest payment = $475,000 x 9% = $42,750

Total Payment = $95,000 + $42,750 = $137,750

Journal Entry for first payment

Dr. Interest Expense $42,750

Dr. Not Payable         $95,000

Cr. Cash                     $137,750

6 0
3 years ago
]by generating and delivering timely and relevant information supported by networks, _____ creates new opportunities for conduct
Alina [70]

The British Empire.

It isn't descriptive enough to seem to be AI or internet.

8 0
3 years ago
Other questions:
  • James purchased a new business asset (three-year personalty) on July 23, 2019, at a cost of $40,000. James takes additional firs
    13·1 answer
  • There are many food carts near Mark’s university. Mark and his friends regularly buy hot dogs from Jeff’s cart. Recently, Andrea
    13·1 answer
  • The valuation you have of yourself is known as
    9·2 answers
  • Net exports equal GDP minus domestic spending on:
    12·1 answer
  • Suppose that the federal government places a binding price floor on chocolate. To help support the price floor, the government p
    11·1 answer
  • When logging into Google Tag Manager for the first time, what needs to be set up?
    14·1 answer
  • Personal selling can take place in all situations except when
    13·1 answer
  • By buying a ________ bond, investors may choose to exchange their bond for shares of common stock in the company.
    6·1 answer
  • A donor gave equipment valued at $90,000 at the beginning of 2020 to a private not-for-profit organization. The equipment had a
    13·1 answer
  • lauryn’s doll co. had ebit last year of $45 million, which is net of a depreciation expense of $4.5 million. in addition, lauryn
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!