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dexar [7]
2 years ago
7

Kevin bought 290 shares of Intel stock on January 1, 2019, for $86 per share, with a brokerage fee of $190. Then, Kevin sells al

l 290 shares for $93 per share on December 12, 2019. The brokerage fee on the sale was $240. What is the amount of the gain/loss Kevin must report on his 2019 tax return?
Business
1 answer:
Yuliya22 [10]2 years ago
6 0

Answer:

Gain $1,600

Explanation:

Amount Realized = (290 shares × $93) − $240

=$26,970-$240

= $26,730

Adjusted Basis = (290 shares × $86) + $190

=$24,940+$190

= $25,130

Gain = $26,730 − $25,130

= $1,600

Therefore the amount of the gain/loss Kevin must report on his 2019 tax return will be $1,600

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Which of the following is a true statement about inventory systems?A)Periodic inventory systems require more detailed inventory
balu736 [363]

Answer:

B)Perpetual inventory systems require more detailed inventory records.

Explanation:

Under the <em><u>Perpetual inventory system</u></em>, every time a good is sold the cost of goods sold (COGS) needs to be determined. That is the reason the details are so important.

Many times it varies because different units in inventory were purchased at different prices and times. <em>Inflation </em>might be a factor the prices changes too.

However, in the <u><em>Periodic inventory system</em></u>, (COGS) is determined at the end of the accounting period, so the person in charge of keeping the records usually checks the <em>Inventory</em> account at the end of the year to know COGS.

7 0
3 years ago
Stephanie is a twelve-year-old who often assists neighbors on weekends by babysitting their children. Calculate the 2013 standar
Delicious77 [7]

Answer:

a) $1,200

b) $1,850

c) $6,200

Explanation:

First ,we are to determine Stephanie's claims based on different circumstances using the 2013 standard deduction

a) Reported $850 earnings from babysitting - claim 1,200

For 2013, the minimum standard deduction is $1,000, hence Stephanie is able to claim the greater of the following two: The minimum standard deduction of $1,000 or her earned income of $850 + $350 which is $1,200. Stephanie can claim $1,200

b) Reported $1500 - Claim $1,850

For 2013, the minimum standard deduction is $1,000, hence Stephanie is able to claim the greater of the following two: The minimum standard deduction of $1,000 or her earned income of $1500+ $350 which is $1,850. Stephanie can claim $1,850

c) reported $6,200 - Claim $6,200

For 2013, the minimum standard deduction is $1,000, hence Stephanie is able to claim the greater of the following two: The minimum standard deduction of $1,000 or her earned income of $6200+ $350 which is $6,550. However, she can only claim $6,200 because as a 2013 the maximum standard deduction for a single person which is her filing status is $6,200

8 0
3 years ago
Operating profit is essentially a measure of how efficient management is in generating revenues and controlling expenses. True F
Paul [167]

Answer:

true

Explanation:

Operating profit is referred to as the profit gained by the corporation in business. it is calculated by subtracting all expenses from the total profit over the given period.

it is considered to be the best way to determine how management tactics are helpful or beneficial for the organization. it helps to decide on the working policy for future goals.

3 0
3 years ago
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mrs_skeptik [129]
Your answer would be 10%
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3 years ago
Wheres the best place for chicken tendies?
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