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melamori03 [73]
3 years ago
10

Hugo Inc., a calendar year taxpayer, sold two operating assets this year. The first sale generated a $38,700 Section 1231 gain,

and the second sale generated a $59,400 Section 1231 loss. As a result of these sales, Hugo should recognize: Multiple Choice $20,700 ordinary loss $38,700 Section 1231 gain treated as capital gain and $59,400 ordinary loss $20,700 capital loss None of these choices are correct
Business
1 answer:
Alex17521 [72]3 years ago
6 0

Answer:

$20,700 ordinary loss

Explanation:

Based on the information given if the first Operating assets generated a gain of the amount of $38,700 while the second assets generated a loss of the amount of $59,400 after been sold out which indicate or means that Hugo should recognize the amount of $20,700 ORDINARY LOSS which is calculated as :

Ordinary loss =-$59,400+$38,700

Ordinary loss =-$20,700

Therefore As a result of these sales, Hugo should recognize:$20,700 ORDINARY LOSS

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Social responsibility is know as ______.
FinnZ [79.3K]

Answer:

B. people and community

Explanation:

Social responsibility is known as people and community. In other words it refers to any and all responsibilities that you may have when being part of a community or society to make that community better. This involves a wide range of responsibilities or obligations such as volunteering, cooperating with others, ethical and moral choices, etc. Anything that benefits the larger structure that you are part of would be considered a social responsibility.

6 0
2 years ago
G why is the future value always more than the present value?
olya-2409 [2.1K]
The future value is always more than the present value because the value of the dollar can be higher in the next day. plus it can be adding the interest in the future value. 
3 0
2 years ago
Scenario: Fiscal Policy Consider the economy of Arcadia. Its households spend 75% of increases in their income. There are no tax
nika2105 [10]

Answer:

less than the government spending multiplier

Explanation:

Given :

Percentage spends  by a households for the increase in the income = 75%

So the mpc = 0.75

Potential output = 600 billion arcs

The government multiplier is = $\frac{1}{1-0.75}$

                                                $=\frac{1}{0.25}$

                                                = 4

The tax multiplier is = $\frac{c}{1-c}$

                                 $=\frac{0.75}{0.25}$

                                 = 3

Thus we see that the tax multiplier is less than the government spending multiplier.

7 0
3 years ago
. From the following list of account balances, calculate the correct amount of current liabilities: Accounts receivable $ 5,000
zhannawk [14.2K]

Answer:

The answer is A.

Explanation:

Current liabilities are the total amount of money due within a period of s year. Current liabilities must be repaid within a year(less than 12 months.

Current liabilities in this question are:

Payable. $5,300

Unearned revenue $900

Sales tax payable. $3,700

Estimated warranty payable $900

Note payable due in 90days $1,300

Total. $12,100

$12,100 is therefore the total current liabilities

6 0
3 years ago
The market for breakfast cereal is currently in equilibrium. Suddenly there is a storm that destroys the wheat that farmers had
lutik1710 [3]

Answer:

C

Explanation:

It will need to decrease Because the wheat is gone, so it decreases the amount of cereal made.

8 0
3 years ago
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