Answer:
If an existing asset is sold at a gain, and the gain is taxable, then the after-tax proceeds from this transaction would be equal to:
Net proceeds from the sale less the taxes paid on the gain.
Explanation:
An illustration is given below. Company A received $70,000 from the sale of an Office Equipment with a tax basis of $40,000. The capital gains tax rate is 20%. How much would be the after-tax proceeds? The net proceeds minus the tax basis would result in the capital gains of $30,000. Then, the capital gains tax equals $6,000 ($30,000 * 20%). Therefore, the after-tax proceeds would be $70,000 minus $6,000, which is equal to $64,000.
This is super True not sure if you still need help
Answer:
Journal Entries
Account Dr. Cr.
1.
Repair and maintenance Expense $250
Cash $250
2.
Delivery truck $800
Cash $800
Explanation:
Property, plant and equipment are reported in the Fixed asset of the balance sheet. These assets are the depreciated. Fixed assets are initially recorded at cost.
Initially the amount capitalized includes the acquisition cost or purchase price and any direct cost incurred to make asset ready to use.
Any cost incurred to improve the efficiency of the asset will also be capitalised. In this question oil change is a routine maintenance cost needed to operate the asset. Installation of Special gear unit actually improved the efficiency of the asset as a whole. So, it is capitalised.
Answer: Commodity, because it was backed by a valuable good.
Explanation:
In the Prisoner of War camp in question, the prisoners had come up with a trade system where they used paper money that was backed by cigarettes. This made that paper money a commodity because it was backed by a valuable good in the camp which was cigarettes.
Commodity money such as this one used to be widely used by nations as their currency would be backed by valuable metals such as gold and silver.
Monopolistic Competition i believe is the answer
