User Account

All Pages

What is the minimum amount on which sabrina must pay tax

Assignment Help Accounting Basics
Reference no: EM133183047

Question - Sabrina sold her farm-a qualified farm and fishing property under the Income Tax Act-for proceeds of $950,000; the adjusted cost base of the property is $150,000. Sabrina has not previously disposed of qualified capital property in any form. What is the MINIMUM amount on which Sabrina must pay tax as a result of the disposition of her farm?

a) $400,000

b) $800,000

c) $0

d) $950,000

Reference no: EM133183047

Questions Cloud

How pervasive is the use of sql in the healthcare industry : How pervasive is the use of SQL in the healthcare industry? What is its importance to an Informaticist? Please include references
Describe the functional marketing strategy : Describe the functional marketing strategy that Nestle used to market their Pet Food . The marketing mix strategies are described in your book in section
Prepare the journal entries for december : Noel Company purchased 2,000 debt securities that were classified as available-for-sale securities at a total price of $20,000. Prepare the journal entries
Characteristics of the working-age population : What are some reasons that more-developed countries are undergoing an unprecedented demographic transition, one which calls into question traditional assumption
What is the minimum amount on which sabrina must pay tax : Sabrina sold her farm-a qualified farm and fishing property under the Income Tax Act-for proceeds of $950,000; What is the MINIMUM amount on which Sabrina pay
What will your monthly loan payment be : A Bank offers you a $550,000, 4 years and 2 months term loan at 3.78 percent annual interest. What will your Monthly loan payment be
Should birch close the plant for two months : Birch Company normally produces and sells 48,000 units of RG-6 each month. The selling price is $30 per unit, Should Birch close the plant for two months
Transition To Practice-Practice of Group Psychotherapy : Yalom's The Theory and Practice of Group Psychotherapy offers a theoretical understanding of the way a group develops and functions
Compute the break-even point in units and dollars : Henning Co. estimates that variable costs will be 70% of sales and fixed costs will total $2,160,000. Compute the break-even point in units and dollars

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