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-Dominant- [34]
3 years ago
14

Mr. Slake sold 1,580 shares of publicly traded DDL stock (tax basis $49,240) for $40,000 cash on February 13. He paid $43,000 ca

sh to purchase 1,600 DDL shares on March 2. Compute Mr. Slake's loss recognized on the February 13 sale and determine his tax basis in the 1,600 shares. Multiple Choice No loss recognized; $52,240 basis No loss recognized; $40,000 basis $9,240 loss recognized; $43,000 basis No loss recognized; $49,240 basis
Business
1 answer:
garik1379 [7]3 years ago
5 0

Answer:

$9,240 loss recognized

$43,000 basis

Explanation:

Tax basis of share purchase is the cost of share together with any tax related to this purchase.

Mr. Slake's loss recognized on the February 13 sale is $9,240 = total cost of 1,580 share purchased in the past - total amount collected from sales of these share =  $49,240 - $40,000 = $9,240

His tax basis in purchase of 1,600 shares on Mar 2 is  $43,000, the total cost he paid to acquire 1,600 shares

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Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The
Pani-rosa [81]

Answer:

Unit Cost = $196

Explanation:

As per the data given in the question,

Total variable overhead estimated = 4×31,400 = $125,600

Total overhead estimated = $125,600+$219,800 = $345,400

Predetermined overhead rate = $345,400÷31,400 = $11 per hour

Total overhead applied = $11×20 = $220

Hence, Total job cost = Direct material + Direct Labor + Total overhead

= $580 + $1,160 + $220

= $1,960

So, Unit cost = $1,960 ÷ 10 = $196

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3 years ago
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Maureen, the owner of a boutique, studies the spending pattern and consumer behavior of the people in the area in which her stor
babymother [125]

Answer:Environmental Scanning

Explanation: Environmental Scanning is the process of acquiring information about trends, patterns, occasions and relationships related to a business' internal and external surroundings. The function of doing this is to confirm forecasts of internal and external elements that will affect a business' success. It also helps managers, such as Maureen, to identify threats and opportunities that are present in the environment. And in doing so Maureen is then able to decide the future path of her business.

8 0
3 years ago
San Ruiz Interiors provides design services to residential and commercial clients. The residential services produce a contributi
Sliva [168]

Answer:

If closed the operating income  will decrease by 50,000

Is a better scenario to continue with the residential sercives

Explanation:

<em><u>current scenario:</u></em>

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<em><u>drop scenario:</u></em>

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8 0
3 years ago
The accountants at Global Finances can take work home for as many days as they like as long as their spreadsheets are up to date
lorasvet [3.4K]

Answer:

Telecommuting.

Explanation:

This is a flexible work pattern in which employees are allowed to carry out their tasks from  homes or other various locations outside the principal office .

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It has its advantages in improved moral , retaining best hands , increased productivity and cost savings.

The disadvantages include lack of supervision ,isolation and in - effective use of work hours

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3 years ago
The top management of Kryptos Inc., a supplier of office stationery to large IT corporations, is involved in a meeting with its
liubo4ka [24]

Answer:

Jury of Executive Opinion

Explanation:

Jury of Executive Opinion method of sales forecasting employs the views of to management in various section. They are are experienced and have good knowledge of the market factors and are able to predict the expected sales. They are able to forecast sales figures through estimates and previous experiences. All internal and external factors are taken into account. Their judgements are pooled together and averaged in drawing the sales forecast of Kryptos Inc.

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3 years ago
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