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
Lorico [155]
3 years ago
14

Pedro sells investment land on September 1, 2019. Information pertaining to the sale follows: Adjusted basis $25,000 Selling pri

ce 90,000 Selling expenses 1,500 Down payment 12,000 Four installment payments 15,000 Mortgage assumed by the buyer 18,000 Required: Each installment payment is due on September 1 of 2020, 2021, 2022, and 2023 (ignore interest). Determine the tax consequences in 2019, 2020, 2021, 2022, and 2023. (Do not round intermediate calculations. Round your final answers to nearest whole dollar value.)
Business
1 answer:
bearhunter [10]3 years ago
8 0

The tax consequence in 2019 is $10584 while the tax consequence from 2020 to 2023 will be $13229.

Bases on the information given, the realized gain will be:

= $90000 - $25000 - $1500

= $63500

The gross profit percentage will be:

= 63500/(90000 - 18000) × 100

= 63500/72000 × 100

= 88.19%

The tax consequence in 2019 will be:

= $12000 × 88.19% = $10584

The tax consequence in 2020 will be:

= $15000 × 88.19% = $13229

The tax consequence in 2021 will be:

= $15000 × 88.19% = $13229

The tax consequence in 2022 will be:

= $15000 × 88.19% = $13229

The tax consequence in 2023 will be:

= $15000 × 88.19% = $13229

Read related link on:

brainly.com/question/25301019

You might be interested in
I'm new here. What do I do? I dont even know anyone
riadik2000 [5.3K]

Answer:

 if you have question on anything you can search it, if you found nothing simply post the question and someone may help you anytime.

Explanation:

4 0
2 years ago
Read 2 more answers
Help with these 3 economics questions plzzzz
Firlakuza [10]

Answer:

3

Explanation:

Various educators teach rules governing the length of paragraphs. They may say that a paragraph should be 100 to 200 words long, or be no more than five or six sentences. But a good paragraph should not be measured in characters, words, or sentences. The true measure of your paragraphs should be ideas.

5 0
3 years ago
You own a portfolio that has $1,600 invested in Stock A and $2,700 invested in Stock B. Assume the expected returns on these sto
Rina8888 [55]

Answer:

the expected return on the portfolio is 14.77%

Explanation:

The computation of the expected return on the portfolio is shown below:

The expected return is

= ($1,600 ÷ $4,300) × 11% + ($2,700 ÷ $4,300) × 17%

= 14.767 %

= 14.77%

The $4,300 comes from

= $1,600 + $2,700

= $4,300

hence, the expected return on the portfolio is 14.77%

The same is considered

3 0
3 years ago
Priscilla owns 500 shares of Deltona stock. It is January 1, 2016, and the company recently issued a statement that it will pay
kotykmax [81]

Answer:

Priscilla's homemade dividend per share be in 2017 will be $3.585

Explanation:

In order to calculate what will be Priscilla's homemade dividend per share be in 2017 we would have to use the following formula:

homemade dividend=(Dividend in 2016×(1+Required rate))+Dividend in 2017

homemade dividend=($1×(1+8.5%))+$2.50

homemade dividend=$1.085+$2.50=$3.585

Priscilla's homemade dividend per share be in 2017 will be $3.585

7 0
3 years ago
Best paid and fun jobs?​
tekilochka [14]

Answer:

Walmart if you're 17

Explanation:

they make 50 k that's not that bad

3 0
3 years ago
Read 2 more answers
Other questions:
  • The ultimate source of an organization's culture is Group of answer choices A. Its top management Its environment B. The country
    10·1 answer
  • The united states has more of what per employee than any other industrial nation?
    6·2 answers
  • MBO works by objectives moving through the organization; that is, top managers set general organizational objectives, which are
    5·1 answer
  • In its 2016 annual report, Caterpillar Inc. reported the following (in millions): 2016 2015 Sales $38,537 $47,011 Cost of goods
    13·1 answer
  • What can cause lost in a new business?
    5·1 answer
  • Which explains a way the U.S. government has created incentives for people to save?
    10·1 answer
  • Which of the following is the management and regulation or resources?
    12·2 answers
  • State two ways by which hotels may promote sales during the off season​
    11·1 answer
  • If Henry and Kate's Company has $300,000 of sales revenue, pays $50,000 in dividends, and has net income of $100,000, how much w
    11·1 answer
  • The ________ the cost of a home, the ________ the insurance. A higher; higher B higher; lower C lower; higher D none of the abov
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!