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Luden [163]
3 years ago
9

On December 31, 2016, Yong sells his 10% interest in Catawissa LLC to Mei for $17,500. Yong is a calendar year taxpayer. Catawis

sa owns no hot assets, and its tax year ends on September 30. On October 1, 2016, Yong’s basis in the LLC interest was $11,000. His share of current LLC income is $4,000 for the period in which he owned the LLC interest (October 1 to December 31).
Yong recognizes a $____________ capital gain on the sale.
Business
1 answer:
Katyanochek1 [597]3 years ago
5 0

Answer:

$6,500

Explanation:

Capit gain on sales = sales of interest by Yong -basis of Yong in the LLC interest

Sales of interest by Yong $17,500

Less Basis of Yong in the LLC interest $11,000

Gain $6,500

Therefore Yong will tend to recognize a gain of $6,500 because he makes a sale of $17,500 in which his basis in the LLC interest was $11,000 making him to have a capital gain of $6,500

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The __________ is an integrated set of actions taken to produce goods or services (at an acceptable cost) that customers perceiv
PIT_PIT [208]

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Differentiation strategy

Explanation:

This question defines the differentiation strategy. It is an approach which businesses develop whereby they provide their customers with unique and different goods and services than what other competing firms may have to offer in the market. The main goal is to have an advantage increase in the market compared to others.

7 0
3 years ago
On January 1, a company issued and sold a $399,000, 9%, 10-year bond payable, and received proceeds of $394,000. Interest is pay
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Answer:

Cash Interest payable on Bond = $399,000*4.5% = $17,955

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Interest expense = $17,955+$250 = $18,205

Date   Journal Entry                                  Debit      Credit            

           Interest Expense                          $18,205

                 Discount on bonds payable                    $250

                 Cash                                                          $17,955

8 0
3 years ago
2. Your grandfather placed $5,000 in a trust fund for you. In 12 years what will be the worth of the savings. If the estimated r
Shkiper50 [21]

With compound interest on a principal of $5,000.00 at a rate of 8% per year compounded 1 time per year over 12 years is $12,590.85.

<h3>Compound interest</h3>

Given Data

  • Principal = $5,000
  • Time = 12 years
  • Rate = 8%

Assuming a compounded interest approach

A = P + I where

P (principal) = $5,000.00

I (interest) = $7,590.85

Calculation Steps:

First, convert R as a percent to r as a decimal

r = R/100

r = 8/100

r = 0.08 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 5,000.00(1 + 0.08/1)(1)(12)

A = 5,000.00(1 + 0.08)(12)

A = $12,590.85

Learn more about compound interest here:

brainly.com/question/24924853

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3 0
2 years ago
Consider the market demand for donuts.
fomenos

Answer:

movement along the demand curve : An increase in the price of donuts

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An increase in the number of consumers

Explanation:

only a change in the price of a good would lead to movement along the demand curve for that good. other factors lead to a shift of the demand curve.

an increase in the price of donuts would lead to a reducing in the quantity demanded of donuts. it would lead to a downward movement along the demand curve.

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