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Aleks04 [339]
3 years ago
13

Julio is in the 32% tax bracket. He acquired 9,000 shares of stock in Gray Corporation seven years ago at a cost of $20 per shar

e. In the current year, Julio received a payment of $135,000 from Gray Corporation in exchange for 4,500 of his shares in Gray. Gray has E & P of $1,000,000. What income tax liabil-ity would Julio incur on the $150,000 payment in each of the following situations? Assume that Julio has no capital losses.
a. The stock redemption qualifies for sale or exchange treatment.
b. The stock redemption does not qualify for sale or exchange treatment.
c. How would your answer to parts (a) and (b) of Problem 49 differ if Julio were a corporate shareholder rather than an individual shareholder and the stock ownership in Gray Corporation represented a 25% interest?
Business
1 answer:
xxMikexx [17]3 years ago
4 0

Answer:

example below

Explanation:

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these students have an increase in sadness and depression question 7 options: a) elementary school b) middle school c) high scho
stealth61 [152]
 C) High school

Depression and sadness generally begin at the age of 12, which is directly in the middle of middle school (about 7th grade), but is much more common in 13-17 year olds. I would say high school is a better answer to this question. 

Hope I'm able to help!
6 0
3 years ago
Microhard has issued a bond with the following characteristics:
Aleks [24]

Answer:

At Yield to maturity = 11%

Price = $1,000

Explanation:

As for the provided information we have:

Par value = $1,000

Interest each year = $1,000 \times 11% = $110

Effective interest rate semiannually = 11%/2 = 5.5% = 0.055

Since it is paid semiannually, interest for each single payment = $110 \times 0.5 = $55 for each payment.

Time = 8 years, again for this since payments are semi annual, effective duration = 16

Price of the bond = C \times \frac{(1 - \frac{1}{(1+i^n)}) }{i} + \frac{M}{(1 + i)^n}

Here, C = Coupon payment = $55

i = 0.055

n = Time period = 16

M = Maturity value = Par value = $1,000

Therefore, if yield to maturity = 11% then,

P = 55 \times \frac{1 - \frac{1}{(1 + 0.055)^1^6} }{0.55} + \frac{1,000}{(1 + 0.55)^1^6}

= $1,000

7 0
2 years ago
Merger Co. has 10 employees, each of whom earns $2,250 per month and has been employed since January 1. FICA Social Security tax
Elis [28]

Answer:

March 31

Dr. Payroll Tax Expense: 3071.25

Cr. FICA- Social security taxes payable:

1395

Cr. FICA- Medicare taxes payable:

326.25

Cr. SUTA-State unemployment taxes payable:

1215

Cr. FUTA- Federal unemployment taxes payable: 135

Explanation:

March 31

Dr. Payroll Tax Expense: 3071.25

Cr. FICA- Social security taxes payable:

(6.2%×$2,250) 1395

Cr. FICA- Medicare taxes payable:

(1.45%×$2,250) 326.25

Cr. SUTA-State unemployment taxes payable:

(5.4$×$2,250) 1215

Cr. FUTA- Federal unemployment taxes payable: (0.6%×$2,250) 135

3 0
2 years ago
CAN SOMEONE PLEASE HELP ME WITH MY ECONOMICS CLASS I BEEN STRUGGLING ON IT PLEASEEE HELP ME !!!!
vitfil [10]

Answer:

can u tell me what it is and I'll help

8 0
3 years ago
Last year, Company X paid out a total of $1,050,000 in salaries to its 21 employees. If no employee earned a salary that is more
slamgirl [31]

Answer:

$42,000

Explanation:

Let L be the lowest possible salary;

the maximum salary would be (L x 20%) + L = 1.2L

If we want to determine the minimum value for L, we need to assume that everyone else earns the maximum salary: 20 employees earn 1.2L each

L + 20(1.2L) = 1050000

L + 24L = 1050000

25L = 1050000

L = 42000

4 0
3 years ago
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