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kari74 [83]
3 years ago
13

Hamlet, a calendar year taxpayer, owns 1,000 shares of Vanity Corporation common stock, which he purchased 2 years ago for $4,00

0. Hamlet sells all his shares on December 29, 2020, for $2,500. On January 23, 2021, he purchases 600 shares of Vanity Corporation common stock. How much loss can Hamlet recognize in 2020
Business
1 answer:
Tasya [4]3 years ago
4 0

Answer:

Hamlet

Hamlet can recognize a loss of $1,500 in 2020.

Explanation:

a) Data and Calculations:

Number of shares in Vanity Corporation = 1,000 common stock

Period of stockholding = 2 years

Cost of investment = $4,000

Sales proceeds from shares = $2,500

Capital loss = $1,500

b) Hamlet can use the capital loss deduction of $1,500 to reduce his other capital gains of the similar term in the first instance.  Note that the capital loss is a long-term capital loss since the investment was held for two years.

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A jet ski that previously sold for $5,599.99 has been reduced to $3,863.99. What is the markdown percent? (Round your answer to
tangare [24]

Answer:

31%

Explanation:

The current price is $3,863.99

The precious price is $5,599.99

The actual difference in price is  $5,599.99 - $3,863.99

=$ 1, 736.00

Percentage  decrease will be  actual decrease/ original price X 100

= $ 1736.00/ $5,599.99 x 100

=0.31 x 100

=31%

5 0
3 years ago
Pratt, an owner of an appliance store, has a garage sale at his home where he sells old furniture and books. He sells a set of b
ELEN [110]

Answer:

false

Explanation:

8 0
3 years ago
What is the effect of a 10 percent price increase on quantity demanded if elasticity is infinite?
Julli [10]

Answer:

Demand drops to zero

Explanation:

Infinite elasticity of demand is also called perfect elasticity of demand.

In this scenario the demand for a product is attached to it's price.

There is an infinite change in the quantity demanded as a result of change in price.

Graphically it is a horizontal demand curve as represented in the attached

Even a small increase in price will cause demand to fall to zero.

Examples are luxury goods such as high end cars and expensive jewelry.

4 0
3 years ago
A project manager has just been assigned to a new project and has been given the project charter. The FIRST thing the project ma
Nookie1986 [14]

Answer:

Confirm that all the stakeholders have had input into the scope.

Explanation:

When assigned to a new project, the project manager may be tempted to start planning immediately. One may conclude that the first thing is planning. It will be wise and smart to understand the project charter before planning. Therefore, it is very important to " Confirm that all the stakeholders have had input into the scope." So, Option B is the correct answer.

7 0
3 years ago
Consider this problem: Fast Auto Service provides oil and lube service for cars. It is known that the mean time taken for oil an
astraxan [27]

Answer:

The maximum time guaranteed = 19.04 minutes.

Explanation:

From the given problem data, we have:

Let Y be the random variable which follows the normal distribution.

So,

Y ~ N(u = 15, SD = 2.4

Where, u = mean and SD = Standard Deviation

Let the maximum time guaranteed is = M

So,

P (Y > M) = 0.05   equation 1

Convert this equation 1 into standard normal variable, that is,

P(Y> M) = 0.05

1 -  P(Y \leq M) = 0.05

P(Y \leq M) = 1 - 0.05

P(Y \leq M) = 0.95

P(\frac{Y-u}{SD} \leq \frac{M-u}{SD} ) = 0.95

P ( Z \leq \frac{M - 15}{2.4} )  = 0.95     Equation 2

From the equation 2, we have,

\frac{M-15}{2.4} = 1.644853627  

1.644853627 value is from using the function of Excel

( =NORSINV(0.95)) = 1.644853627

So,

M = 1.644853627 + 2.4 + 15

M = 19.04

Hence, the maximum time guaranteed = 19.04 minutes.

6 0
2 years ago
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