1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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:

You might be interested in
For each of the following separate situations, prepare he necessary accounting adjustments using the financial statement effects
mash [69]

Answer:

depreciation expense equipment 610 debit

  accumulated depreciation equipment  610 credit

utilities expense   390 debit

  utilities payable      390 credit

rent expense  700 debit

           prepaid rent       700 credit

insurance expense  468 debit

        prepaid insurance 468 credit

wages expense 965 debit

   wages payables  965 credit

interest receivables 300 debit

      interest revenue      300 credit

Explanation:

(C) rent calculations

2,800 --> four period of rent

2,800 / 4 = 700 per period

(D) insurance calculations

624 for the entire years

expired  9 months in this period

$624 x 9/12 = 468

8 0
3 years ago
GroundTruth Ads Manager is an easy-to-use, self-serve advertising platform. Visual advertisements are integrated into text messa
alisha [4.7K]

Answer:

a mobile ad

Explanation:

GroundTruth launches an ad manager which provides advertisement to its customers on its mobile phones based on the location of the customer. It is a self serving platform for advertisements and easy to operate and use.

The ad manager integrates the visual advertisements into the text messages, applications and also mobile websites and sends to the customers for advertising.

Thus the GroundTruth Ads Manager is an example of a mobile ad.

5 0
3 years ago
What does a national emergency mean in the united states
son4ous [18]

Answer:

National emergency can be defined as a state of national crises that threatens not just a part of the nation but the whole, and requires an unprecedented response and requires instantaneous reaction.

Explanation:

<u>National emergency can be defined as a state of national crises that threatens not just a part of the nation but the whole, and requires an unprecedented response and requires instantaneous reaction.</u>

<u>It can also be said to be an extraordinary situation that threatens the health, safety and environment of the citizens that requires intervention by the government. </u>

In the United States, the government at such a time will be required to act in a way that it would not be normally permitted to.

Example in the recent case of COVID-19 outbreak. <u>Since it threatens the lives of people everywhere in the country not just in one state, it is a national emergency and has required the intervention of the government by an unprecedented declaration of a stimulus package of $850 billion dollars, and the request of restriction of the movement of people and closure of airports which will not normally happen.</u>

6 0
3 years ago
Franklin Corporation is comparing two different capital structures, an all-equity plan (Plan I) and a levered plan (Plan II). Un
expeople1 [14]

Answer and Explanation:

The computation is shown below:

a. The price per share under MM proposition is

= Debt ÷ Difference in Number of shares

= $1,330,000 ÷ (155,000 - 105,000)

= $26.60

b. The value of the firm under each plans is

For All equity plan

= Share price × Number of shares

= $26.6 × 155,000 shares

= $4,123,000

For Levered plan

= All equity plan value + Debt × Tax rate

= $4,123,000 + $1,330,000 × 0%

= $4,123,000

8 0
3 years ago
The Free enterprise system is:
pogonyaev

Answer:

supply and demand

Explanation:

market is not interrupted by state . there is maximum competition ideally . this doesn't always protect the consumer or the competition due to large corporations. but that's further along your studies

7 0
3 years ago
Other questions:
  • Which is higher: CEO or CFO<br><br> Thanks
    15·2 answers
  • If there is a recessionary gap in the short​ run, the Federal Reserve can eliminate the gap in the short run by undertaking a po
    9·1 answer
  • Which of the following statements regarding the opportunity cost of producing potatoes and the production possibilities frontier
    12·1 answer
  • How to estimate elasticity?
    13·1 answer
  • Compensating balances
    10·1 answer
  • Lancelot Manufacturing is a small textile manufacturer using machineminushours as the single indirectminuscost rate to allocate
    6·1 answer
  • Which of the following statements concerning a bank savings account is false? a. Deposits are insured for at least $100,000. b.
    9·1 answer
  • Remo Company and Angelo Inc. are separate companies that operate in the same industry. Following are variable costing income sta
    7·1 answer
  • Phân biệt triết lý bán hàng và triết lý Marketing
    7·1 answer
  • Skysong, Inc. had net credit sales during the year of $1090600 and cost of goods sold of $604000. The balance in accounts receiv
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!