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a_sh-v [17]
3 years ago
11

Based on his investment advisor's guidance, Christopher sold two stocks during 2020. The capital gain on the sale of Magnificent

Inc. was $35,000 and the capital loss on the sale of Rotten Tomatoes Inc. was $7,000. Christopher needs the money for a downpayment on a condo. If Christopher is in the highest marginal tax bracket of 53.31%, what is the net amount that he will receive after taxes are paid on the sale of these shares to use towards the purchase of a condo
Business
1 answer:
Mamont248 [21]3 years ago
6 0

Answer:

The question is incomplete since we are not told if the capital gain is a short or long term gain. So I will answer the question in both possible scenarios.

Short term capital gains:

They are taxed as ordinary income, so the net gain = $35,000 - $7,000 = $28,000

Net gain after taxes = $28,000 x (1 - 53.31%) = $13,073.20

Long term capital gains:

They are taxed at a much lower rate that ranges from 0 to 20%. In this case, Christopher is probably taxed at 20%.

Net gain after taxes = $28,000 x (1 - 20%) = $22,400

Explanation:

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What are examples of criteria used in conditional formatting? Check all that apply. less than equal to added to divided by great
natima [27]

Answer:

  • Less than
  • Equal to
  • Greater than

Explanation:

Considering the listed options, the criteria used in conditional formatting are Less than, Equal to and Greater than

To make use of conditional formatting, follow the highlighted steps

1. Highlight cells that you want to format

2. Goto Home tab -> Styles -> then select Conditional Format

3. Select Highlight Cells Rules

4. Select the format type (this is where you get to pick either of greater than, equal to less than, etc.)

5. Enter the format value and how it is to be formatted

6. Press OK

3 0
3 years ago
What health care business decisions are based on financial statements? And what are some examples?
mario62 [17]

Answer:

Only certain decision-making offered here is determined by the financial proclamations of that same healthcare institution.

Explanation:

  • Whether we should start reversing this same healthcare services doorstep.
  • If the amount needed is satisfactory again for the expansion of the company or even if the investments would have to be established.
  • Accessibility of capital expenditures for the seamless functioning of the organization and the fulfillment of simple terms obligations.
5 0
3 years ago
A survey indicated that chocolate is Americans' favorite ice-cream flavor. For each of the following, indicate the possible effe
ryzh [129]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

For each of the following, indicate the possible effects on demand, supply, or both as well as equilibrium price and quantity of chocolate ice cream.

a. A severe drought in the Midwest causes dairy farmers to reduce the number of milk-producing cattle in their herds by a third. These dairy farmers supply cream that is used to manufacture chocolate ice cream.

Demand: decreases (because of the higher price)

Supply: restrains.

Equilibrium price: rises

Equilibrium quantity: decreases

b. A new report by the American Medical Association reveals that chocolate does, in fact, have significant health benefits.

Demand: increases

Supply: increases

Equilibrium price: rise

Equilibrium quantity: increases

c. The discovery of cheaper synthetic vanilla flavoring lowers the price of vanilla ice cream.

Demand: decreases

Supply: decreases

Equilibrium price: decrease

Equilibrium quantity: decrease

d. New technology for mixing and freezing ice cream lowers manufacturers' costs of producing chocolate ice cream.

Demand: remains

Supply: increase

Equilibrium price:

Equilibrium quantity:

4 0
3 years ago
Aaron is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business. During the current y
Svetllana [295]

Answer:

$325,000

Explanation:

Aaron's salary which has already been substracted from the income of ABC, Inc. is allowable deduction and it will not be added back to the ABC Inc.'s income.

Dividend payment by an S corporation is not allowable for deduction and it will not be deducted from the net income.

Therefore, Aaron's qualified business income is $325,000.

7 0
3 years ago
For a given company, total assets are $260,000, current liabilities are $10,000, long-term liabilities are $60,000, common stock
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1. $140,000

2.$120,000

3.$190,000

4.$110,000

5.$160,000
3.$190,000
4 0
3 years ago
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