Answer:
$10,000
Explanation:
Gifts are only taxed when their fair market value is higher than $15,000. Any gifts made to your spouse are not taxable. Gift taxes are calculated on a per person base, as long as they do not exceed the lifetime exemption (which is $11.58 million).
The tuition costs of her niece are not taxable since they are less than $12,000. The stocks given to his wife are not taxable either. The only taxable gift is the land given to his sister which had a FMV of $25,000. The taxable amount = $25,000 - $15,000 = $10,000
Answer:
$60,000
Explanation:
The movement in finished goods balance between the beginning and end of a period is due to the cost of goods sold and goods manufactured. This may be expressed mathematically as;
Opening balance + manufactured goods - cost of goods sold - other write-offs = closing balance.
where there are no other write-offs,
$10,000 + $200,000 - cost of goods sold = $150,000
Cost of goods sold = $10,000 + $200,000 - $150,000
= $60,000
A bond is a debt instrument. The company or government issuing it borrows your money and pays you a fixed amount of money for the use of the loan you have made available to the company or government. The selling price is usually what the face value of the bond is, but this can vary according to interest rates determined by the Federal Reserve.
A stock is ownership. You own a fraction of the company you've invested in. Sometimes a company pays a dividend. That means that the company has excess funds and decides to pay its shareholders a fraction of what the company brings in. When you buy a stock, you expect to sell it at a higher price than what you bought it at. That's called a capital gain. It's another source of income.
