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2 years ago

Which statements about Section 1231 assets are true? Pick all that apply!!

Business

1 answer:

dem82 [27]2 years ago

4 0

Answer:

The answer is below

Explanation:

Given that Section 1231 assets are a term that is used to describe the real or depreciable trading property acquired for more than a year. For example, landed property, buildings, etc.

Hence, in this case, the correct answer or statement to the question are:

1. If Section 1231 assets are sold and the taxpayer has a realized loss, the loss is a fully deductible ordinary loss

2. If Section 1231 assets held long-term are sold for a realized gain, the taxpayer has a potential long term capital gain that may be taxed at favorable capital gains rates but this result often does not occur

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Xyz stock price and dividend history are as follows:

Natali5045456 [20]

1. The rate of return for each year is 4.05%
2010 $100 $4 => 4%
2011 $110 $4 => 3.6%
2012 $90 $4 => 4.4%
2013 $95 $4 => 4.2%
Average is 4.05%
2. The dollar-weighted rate of return is
-3(4%) - 2(3.6%) + 1(4.4%) + 4(4.2%)
14.75%

7 0

3 years ago

The date on which the principal amount is repaid to the bondholder is known as the ________.

blagie [28]

The answer is “Bond Maturity Date”.

8 0

1 year ago

The following information is for MTC Harry Company:

neonofarm [45]

Answer:

Results are below.

Explanation:

First, we need to calculate the total manufacturing costs:

total manufacturing costs= Raw materials used in production as direct materials + Direct labor costs + (Manufacturing overhead (actual) - Under-applied manufacturing overhead)

total manufacturing costs= 95,000 + 100,000 + (250,000 - 25,000)

total manufacturing costs= $420,000

Now, the cost of goods manufactured:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 130,000 + 420,000 - 145,000

cost of goods manufactured= $405,000

Finally, the cost of goods sold:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 65,000 + 405,000 - 80,000

COGS= $390,000

3 0

2 years ago

The Mixing Department of Complete Foods had 62,000 equivalent units of materials for October. Of the 62,000 units, 38,000 units

Art [367]

Answer:

Materials

62,000 equivalent units

Conversion

42,800 Equivalent untis

Cost of finished Goods

38,000 x (.75 + .55) = 38,000 x 1.3 = $49,400

WIP

24,000 x .75 = 18,000

4,800 x .55 = 2,640

Total WIP 20,640

Explanation:

Equivalent Units

38,000 complete

20% of 24,000 WIP = 4,800

Equivalent Units CC = 42,800

x .55 CC = 23540

Materials

62,000 x .75 = $46,500

6 0

3 years ago

Palace Company has two service departments and two user departments. The number of employees in each department is:Personnel 10C

joja [24]

Answer:

$3,483.17

Explanation:

Calculation for the amount of cost allocated to the Cafeteria under the step method

Using this formula

Allocation to Cafeteria=[Cafeteria/(Cafeteria+Producing Department A+Producing Department B)]×Budgeted costs

Let plug in the formula

Allocation to Cafeteria=[25/(25 + 308 + 287)] x $72,450

Allocation to Cafeteria=(25/520)×$72,450

Allocation to Cafeteria=0.0480769231×$72,450

Allocation to Cafeteria=$3,483.17

Therefore the amount of cost allocated to the Cafeteria under the step method would be $3,483.17

8 0

2 years ago