User Account

All Pages

How much was the total capital gain tax

Assignment Help Accounting Basics
Reference no: EM132818492

The idle real property of the taxpayer who is not engaged in business was sold when its zonal value was P60M. The carrying cost of the property at date of sale was P2M. The term of sales as follows:

  1. Down payment in year of sale P 10M
  2. Mortgage assumed by buyer 4M
  3. balance payable at P 9M per year for 4 years starting year 2 of sale.

Problem 1: How much was the total capital gain tax?

Group of answer choices

Option 1: 3.6M

Option 2: 3.72M

Option 3: 3.6M

Option 4: 3.5M

Reference no: EM132818492

Questions Cloud

What are the symptoms of osteoporosis : -How does bone remodeling cause osteoporosis and what are the symptoms of osteoporosis? Why are women at greater risk for developing osteoporosis than men?
How much was the first installment payment of capital gain : How much was the first installment payment of the capital gain tax in the year of sale? balance payable at P 9M per year for 4 years starting year 2 of sale.
Explain the process of digestion from beginning to end : Detail the pathway for gas exchange in our body from ventilation through exchange at the tissues. Include both relevant gases and their transport mechanism(s).
Describe human-style viruses : Describe human-style viruses in as much detail as possible, regarding their basic structure, method of infecting cells, and contrasting them to other types of v
How much was the total capital gain tax : How much was the total capital gain tax? The idle real property of the taxpayer who is not engaged in business was sold when its zonal value was P60M.
What is the income from continuing operations of company : Correction of inventory error, net of income tax - credit 1,000,000. What is the income from continuing operations of Bangladesh company
Explain why the wastewater treatment operators are notified : In the biological treatment of wastewater, microorganisms break down the organic matter, such as food, oil, and human waste, in the wastewater
How much was the contract price : How much was the contract price? The idle real property of the taxpayer who is not engaged in business was sold when its zonal value was P60M.
How much was the initial payment in year of sale : How much was the initial payment in year of sale? The idle real property of the taxpayer who is not engaged in business was sold

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare a schedule of expected cash collections from sales

Prepare a schedule of expected cash collections from sales, by month and in total, for the third quarter

  What was island return on the investment

If these are the only cash flows from this new product, what was Island's return on their investment in this product? Island Corporation invested $1,000,000

  Determine the beginning balance in spartan

Determine the beginning balance in Spartan's accumulated E&P at the beginning of the next year.

  What was silverman net income for first year in operation

The company produced 5,000 units and sold 3,000 units at a price of $7.50 a unit. What was Silverman net income for first year in operation

  Journalize the entry

Question - Otis Company accumulates the following adjustment data at December 31. Journalize the entry

  Chatham mae is single age 35 and wants to make a

chatham mae is single age 35 and wants to make a contribution to an ira for the year ended december 31 2013. she is an

  What is the per-unit cost to manufacture one unit

Athletics, Inc. completed Job No. C04 during 2015. The job cost sheet listed the following: Direct materials $110,000 Direct labor $60,000

  Determine the after tax income from each bond

If required, round your computations and answers to the nearest dollar. Determine the after tax income from each bond

  Sting corporation taxable income

Based on this information, what is Sting Corporation's taxable income as would be shown on Schedule M-1 of its corporate tax return?

  Contrast auditing-attestation and assurance services

Write a 1,050- to 1,400-word paper in which you compare and contrast auditing, attestation, and assurance services. In your paper, be sure to include the following:

  How many shares were issued for sicat co

Common stock with total market value equal to that of Max net assets. To recognize goodwill of P200,000, how many shares were issued?

  Prepare Pina journal entries to record these transactions

Pina had no previous treasury stock transactions. Prepare Pina's journal entries to record these transactions using the cost method

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