User Account

All Pages

How much is the capital gains tax due

Assignment Help Accounting Basics
Reference no: EM133135872

Question - During your audit of the books of Alarcon Corporation for the year ended December 31, 2021, you discovered that certain accrued expenses were overlooked at the end of 2014, 2015 and 2016.

B domestic corporation in it's fourth year of operation had the following transaction:

Gain on sale of domestic shares sold directly to a buyer 500,000

Gain on sale of land classified as capital asset with selling price of 4,500,000. zonal value of 3,000.000 and assessed value 2.000,000 800,000

How much is the capital gains tax due?

Reference no: EM133135872

Questions Cloud

Calculate the residual income for the proposed new line : Koch has just received a proposal to invest $1,990,000 in a new line of energy drinks. Calculate the residual income for the proposed new line
How hiring interns can help a employer to save money : How hiring interns can help a employer to save money by paying less. Explain with examples
Hairstylist position at hr haircuts : You are the HR Manager at HR Haircuts , a specialty hairstylist shop in Edmonton that specializes in cutting hair for people with sensory issues. There are curr
Detriments of relying on consumption taxes : Explain the how consumption taxes can used by a city for their benefit, and the consequential detriments of relying on consumption taxes as a source of revenue.
How much is the capital gains tax due : Gain on sale of land classified as capital asset with selling price of 4,500,000. How much is the capital gains tax due
Negligence in the professional sporting arena : Locate an article of negligence in the professional sporting arena and discuss it. Why is it negligence? Which one of the four elements of negligence was presen
Yahoo recruitment dilemma : In many fields, Workers are practically begging the employers to hire them, but in Information technology, demand for talent often outstrips the supply.
What was the equitable fields system of the northern wei : 1.. What was the Equitable Fields System of the Northern Wei? How did it reflect Confucian ideas?
Stuttering discrimination and the workplace : Write a Executive Brief meaning a summary about this article. name of article is this:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Formulate a strategy for the control system

Formulate a strategy for the control system of the 3M corporation. What is the main thing in the control system

  Prepare the appropriate journal entry to record transaction

The recourse provision has a fair value of $2,870. This transaction should be recorded as a sale. Prepare the appropriate journal entry to record transaction

  Identify the time value of money variable

FIN 3302 Identify the time value of money variable (PV, FV, PMT, N or Rate) which needs to be calculated in the question. Identify the values of the remaining.

  Similarties between job order costing and process costing

Compare and contrast Job Order Costing and Process Costing giving specific details as to the flow of costs for direct materials, direct labor and manufacturing

  Provide an investor with most important information needed

Provide an investor or creditor with the most important information needed to make accurate predictions about the company's financial condition.

  Discuss the pros and cons of activity-based costing

Discuss the 2 pros and 2 cons of activity-based costing. Give an example of a situation where activity-based costing could be used effectively.

  Prepare Colah journal entries for the transactions

Colah sold the Jackson bonds on July 1, 2022 for $900,000. Prepare Colah's journal entries for the following transactions

  Explain term materiality in relation to financial reporting

Explain the term "materiality" in relation to financial reporting (annual accounts) and why it is important to external (independent) auditors

  What the initial investment on the machine

A machine costs $1200 and is depreciated using the straight line method over 5 years. What the initial investment on the machine

  Prepare the adjusting entry for the current years

The Allowance for Doubtful Accounts account had a $2,500 debit balance before the current year's provision. Prepare the adjusting entry for the current years

  Calculate the amount of depreciation expense

Calculate the amount of depreciation expense that Evers should record for machine B each year of its useful life under the following assumptions

  Calculate the Johnson equity share

Johnson is to receive a 20% ownership interest in the new partnership. Calculate the Johnson's equity share and prepare journal entries

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