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AVprozaik [17]
3 years ago
8

Lenore, a single California taxpayer, has taxable income before capital gains of $78,000 and a long-term capital gain of $5,000

on the sale of RSS stock. What is the total amount of California state tax Lenore will pay on the capital gain
Business
1 answer:
irina [24]3 years ago
7 0

Answer:

As we all know Long term capital gain is always taxed at 15% as per the federal taxation but in California the taxation is bit different the long term capital gain is not taxed separately it is included in the income and it is considered as Ordinary income and is taxed at regular individual tax rates.  So, Tax that Lenore as to pay as per the Federal Taxation is 15% of $5,000 = $750. But Tax that Lenore gas to pay as per the California Taxation is 9.3% of $ 5,000 = $465, which is treated as a tax paid on ordinary income.

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Mcdale Inc. produces and sells two products. Data concerning those products for the most recent month appear below: Product I49V
Pavel [41]

Answer:

c

Explanation:

3 0
3 years ago
Gilbert's expects its September sales to be 20% higher than its August sales of $150,000. Manufacturing costs were $100,000 in A
sveticcg [70]

Answer:

$61,500.

Explanation:

Given that,

Beginning cash balance on September 1 = $7,500

Cash receipts from credit sales made in August:

= $150,000 × 70%

= $105,000

Cash receipts from credit sales made in September:

= ($150,000 × 1.20) × 30%

= $54,000

Cash disbursements from purchases made in August:

= $100,000 × 75%

= $75,000

Cash disbursements from purchases made in September:

= $120,000 × 25%

= $30,000

Ending cash balance September 30:

= Beginning cash balance + Cash receipts from credit sales made in August + Cash receipts from credit sales made in September - Cash disbursements from purchases made in August - Cash disbursements from purchases made in September

= $7,500  + $105,000  + $54,000  - $75,000  -  $30,000

= $61,500.

6 0
3 years ago
Suppose you purchased 500 shares of Jet-Electro Corporation stock at a price of $22.50 per share. One year later, the shares are
viva [34]

Answer:

C) 0.0 percent

Explanation:

The net return on any investment is what we receive from the investment in addition to the purchase price paid.

In the given instance the investor pays $22.50 per share as an investment cost, to acquire such shares. Number of shares purchased = 500

Now at the end of the period the shares are sold for $21 each

Also the dividend per share received is $1.50

Thus, total return = $21 + $1.50 = $22.50 per share.

This is exact same as that of the investment price.

Thus net return = Total benefits - Cost = $22.50 - $22.50 = $0

Since net return is $0 the value of return in percentage shall also be $0.

6 0
3 years ago
Miley, a single taxpayer, plans on reporting $31,375 of taxable income this year (all of her income is from a part-time job). Sh
notsponge [240]

<u>Answer:</u>$1,825

<u>Explanation:</u>

Based on the single tax rate schedule, of the additional $10,900 of taxable income, $9,000 is taxed at 15% (the increase $31,375 to $42,275) and the remaining $1,900 ($38,650 minus $37,650) is taxed at 25%. To summarize, ($9,000 × 15%) + ($1,900 × 25%)

= $1,350+$475

=$1,825

The income tax from second job increases her tax liability by $1,825.

7 0
3 years ago
. A manufacturer uses manages its inventory using fixed quantity system and wants to be able to fully supply its customers at le
Vsevolod [243]

Answer:

Lead time needed is approximately 1 day

Explanation:

In this question, we are asked to calculate the maximum number of lead days needed by a manufacturer to give a supplier

We proceed as follows;

They want to be able to fully supply the customer at least 50 out of the 52 weeks.

Mathematically; service probability = 50/52 = 0.96 or 96%

At 96% service level value of Z = 1.75

Standard deviation of daily demand (σd) = 50 units

Safety stock = 100 units

Suppose lead time = L

Safety stock = Z × σ d × √L

100 = 1.75 × 50 × √L

=100 = 87.5 × √L

√L = 100/87.5

√L = 1.142857142

L = 1.142857142^2

L = 1.306122448

6 0
3 years ago
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