User Account

All Pages

How much capital gain or loss will melissa show

Assignment Help Accounting Basics
Reference no: EM131774317

Problem - Melissa Wimberley sold 100 shares of ABC stock with an adjusted basis of $1,000 for $2,000. She also sold 500 shares of XYZ stock with an adjusted basis of $20,000 for $12,000. She had no other sales of capital assets for the year. Her ordinary income for the year was $50,000. The previous tax year she had a capital gain of $2,000 and $45,000 of ordinary income. How much capital gain or loss will Melissa show on her current year tax year?

Reference no: EM131774317

Questions Cloud

How many units were in ending inventory at the end of 2017 : Suppose ending finished goods inventory for iRobot at the end of 2016 has 395 units. In 2017, they had the following data
How much are budgeted cash collections for the third quarter : How much are budgeted cash collections for the third quarter, Production in units for the third quarter should be budgeted
Evaluate the effectiveness of the organizations response : SIM337 - Give a brief overview of the primary external influences to which the organization is subject and briefly explain the particular importance
Determine the market for jeans is perfectly competitive : Assume the market for jeans is perfectly competitive. For each of the following situations usethe methodology of comparative statics to draw the graph.
How much capital gain or loss will melissa show : The previous tax year she had capital gain of $2,000 & $45,000 of ordinary income. How much capital gain or loss will Melissa show on her current year tax year
Which of the given will occur as a result of a revaluation : Assume that policy makers are pursuing a fixed exchange rate regime and the economy is initially operating at the natural level of output.
Define accounts payable relate solely to inventory purchases : a month's inventory purchases are paid in the following month. Accounts payable relate solely to inventory purchases
How should computers express report its loss on the sale : It had no net capital gain for either of the previous two years. How should Computers Express report its loss on the sale of XYZ stock on this year's tax return
Find the wealth expansion path : Consider the following utility function and corresponding marginal rate of substitution for consumption, C and leisure, and L: U = CL2 and MRS = - L 2C .

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd