Reference no: EM131775054
Question -
Q1. On April 18,2010, Jane Juniper purchased 30 shares of Bryan Corp. stock for $210, and on September 29,2010, she purchased 90 additional shares for $900. On November 28,2010, she sold shares, which could not be specifically identified, for $576 and on December 8, 2010, she sold another 25 shares for $188. What is her recognized loss?
Q2. Bert Baker had $50,000 salary during 2010 and had the following capital gains and losses:
STCL carryover from 2009......($4,000)
STCL................................($2,000)
STCG................................($1,000)
LTCL carryover from 2009.......($5,000)
LTCL.................................($3,000)
LTCG................................($6,000)
How should Bert treat the above on his 2010 tax return?
Q3. Jim Junction purchased a truck for business on November, 17, 2009, for $40,000. On July 21, 2010, he exchanged the truck for another in a like-kind exchange. The new truck had a fair market value of $42,000. When does holding period on the new truck begin and what is its basis?
Assume that sunland prepares financial statement
: Past experience indicates that the normal return rate is 15%. By October 11, 2017, retailers returned CDs to Sunland and were granted credit of $77,100.
|
Compute the olds net tax payable
: Compute the Olds' net tax payable(or refund due) for 2008. If you use tax forms for your solution, you will need Form 1040 and Schedules A and B
|
Determine the equivalent discount rate
: interest in total for a two-year deposit. Determine the equivalent discount rate for a period length of:
|
Discuss what amount will wilson report as the income
: The income tax rate is 40%. What amount will Wilson report as the income or loss from discontinued operations
|
What is her recognized loss
: On November 28,2010, she sold shares, which could not be specifically identified, for $576, What is her recognized loss
|
Activity-based costing system
: If you were a small business owner would you implement an activity-based costing system.
|
Discuss how much is the direct materials standard
: gallons of direct materials that actually cost $10,659 were used to produce 3,000 units of product. How much is the direct materials standard
|
Compute the following items using the weighted
: Required: Compute the following items using the weighted average method.
|
How much is direct materials price variance for last month
: The company produced 290 units of product. How much is the direct materials price variance for last month
|