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
Misha Larkins [42]
3 years ago
5

Karen Smith bought Coca-Cola stock for $475 on March 31, 20X1. On November 15, 20X1, Karen received a non-taxable distribution o

f $155 on the 50 shares of stock she owned. She sold the stock for $300 on December 22, 20X1. What is her gain or loss on the sale
Business
1 answer:
Murrr4er [49]3 years ago
7 0

Answer:

$20 loss

Explanation:

Karen Smith bought a coca-cola stock for $475 in March 31, 20X1

She received a non taxable distribution of $155 on November 15, 20X1

The first step is to calculate the adjusted basis

= $475-$155

= $320

Karen sold the stock for $300 on December 22, 20X1

Therefore, her gain or loss on the sale can be calculated as follows

= $300-$320

= $20 loss

Hence Karen has a loss of $20 on the sale

You might be interested in
The company intends to classify these costs and expenses into the following categories: (a) direct materials, (b) direct labor,
postnew [5]

Answer:

Property taxes on the factory building - period costs.

Property taxes are period costs because it is a cost associated with a particular period of time (tax season), and because this cost cannot be capitalized in inventory, fixed assets, or prepaid expenses.

Production superintendents’ salaries - period costs.

The salaries of management workers such as superintendents are period costs because they are not direct labor.

Memory boards and chips used in assembling computers - direct materials.

The memory boards and chips are direct materials used to assemble the computers, therefore, they are a direct materials cost.

Depreciation on the factory equipment - period costs.

Depreciation is a period cost because it cannot capitalized in fixed assets, since it actually reduces the value of those.

Salaries for assembly-line quality control inspectors - period costs.

Inspectors and supervisors are part of lower-management, and as result, their salaries are also considered period costs.

Sales commissions paid to sell laptop computers - period costs.

A sale commission is a period cost because it is a selling expense. The comission is an incentive for sellers to perform better, by it is not in itself a part of the cost of goods sold.

Electrical components used in assembling computers - direct materials.

The electrical components are used to assemble the computers, therefore, they represent a direct materials cost.

Wages of workers assembling laptop computers - direct labor.

The workers are directly making the computers, without them, the computers could not be assembled. Therefore, their wages are a direct labor cost.

Soldering materials used on factory assembly lines - manufacturing overhead.

The assembly line is needed to make the goods, but it is not in itself a part of the good. Besides, the cost of running the assembly line does not depend directly on the number of goods produced. It varies relatively close to that number, but the relation is not exact, and linear. Therefore, these soldering materials are manufacturing overhead.

Salaries for the night security guards for the factory building - period costs.

Night security guards are an administrative cost. They are not necessarily needed to produce the goods, they are hired to protect the factory's security. And administrative costs are considered period costs.

7 0
3 years ago
Suppose for a given consumer the marginal utility (MU) of a pizza is 100 utils and the MU of a hamburger is 80 utils, and that t
NemiM [27]

Answer:

<u>is not</u> , <u>consume more of hamburgers</u>

Explanation:

A consumer is said to have achieved equilibrium when within his budget constraint, he purchases that combination of two goods which yield maximum satisfaction to him.

The equation for consumer equilibrium for two products is given by

\frac{MU_{x} }{P_{x} } = \frac{MU_{y} }{P_{y} }

In the given case, \frac{MU_{x} }{P_{x} } = \frac{100}{15} = \frac{20}{3} = 6.666

                            \frac{MU_{y} }{P_{y} } = \frac{80}{10}    = 8

wherein, x= pizza

              y= hamburger

As is evident, the marginal utility per dollar spent is greater in case of a hamburger, the consumer is not in a state of equilibrium.

Thus, he should consume more units of Hamburgers in order to maximize his utility.

3 0
3 years ago
Vaughn Corporation had 303,000 shares of common stock outstanding on January 1, 2017. On May 1, Vaughn issued 31,200 shares.
Helga [31]

Answer and Explanation:

The computation of the  weighted-average number of shares outstanding  in each cases is as follows:

a. At the time when the shares are issued at cash

= (303,000 × 12 ÷ 12) + (31,200 × 8 ÷ 12)

= 303,000 + 20,800

= 323,800 shares

b. At the time when the shares are issued in the stock dividend

= (303,000 × 12 ÷ 12) + (29,700 × 12 ÷ 12)

= 303,000 + 29,700

= 332,700 shares

4 0
3 years ago
The Copy Department in the College of Business at State University provides photocopying service for both the Marketing and Econ
fiasKO [112]

Answer:

The correct answer is $170,000.

Explanation:

According to the scenario, computation of the given data are as follows:

We can calculate the cost allocated to Marketing by using following formula:

Total cost allocated = Fixed cost + Variable cost

Where, Fixed cost = (3,600,000 ÷ 5,400,000) × $120,000

= $80,000

And , Variable cost = $0.025 × 3,600,000 = $90,000

By putting the value, we get

Total cost allocated = $80,000 + $90,000

= $170,000

7 0
3 years ago
On which group will a progressive tax place a greater tax burden?
Furkat [3]
Poor citizens will be greatly affected by a increase in taxes,nobody takes into account there day to day living,rent,utilities,food and that's just to name a few.
5 0
3 years ago
Read 2 more answers
Other questions:
  • Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2019 Christmas season and get married around
    14·1 answer
  • Going 'long' (including more periods) on a moving average forecast is usually most appropriate when: 1. Significant fluctuations
    5·1 answer
  • While researching job boards and applying to companies ,which two of the following practices can help you stay organized ?
    10·1 answer
  • With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combinati
    12·1 answer
  • 1 points Item 5Item 5 1 points Sam, Alfredo, and Juan want to start a small U.S. business. Juan will fund the venture but wants
    10·1 answer
  • Bill is a construction worker who was laid off because the market for new homes has been adversely affected in the recession. bi
    6·1 answer
  • What is the moving force of air
    7·1 answer
  • Drag the tiles to the correct boxes to complete the pairs. For each scenario match it to the correct factor describing the purpo
    7·1 answer
  • question 3 fill in the blank: data involves creating new ways of modeling and understanding the unknown by using raw data.
    11·1 answer
  • If a contract provides a set amount of income for two or more persons with the income stopping upon the first death of the insur
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!