User Account

All Pages

What is the tax effect of these sales transactions

Assignment Help Accounting Basics
Reference no: EM133177772

Question - During 2021 an individual sold various personal items as follows: furniture $8,000; jewellery $10,000; automobile $29,000; gold coins $9,000. The cost base of these items is as follows: furniture $11,300; jewellery $12,400; automobile $25,500; gold coins $7,800. What is the tax effect of these sales transactions?

A. $6,300

B. $3,000

C. $1,500

D. $3,150

E. None of the above

Reference no: EM133177772

Questions Cloud

What amount will be in the sinking fund at the end of years : The deposits are made at the end of each year into an account paying 4% annual interest. What amount will be in the sinking fund at the end of 13 years
Why should organizations provide benefits : Why should organizations provide benefits / indirect compensation to its employees? What are some examples of benefits provided to employees?
Define the people and business priorities : You just being hired and starting your new role. As you learn the business and the team, you have been asked to present presentation to the leadership team you
How could the city have avoided the outcome : Do you think that it would have made sense for the city to consider the particulars of the circumstances such as that these were lifeguards
What is the tax effect of these sales transactions : During 2021 an individual sold various personal items as follows: furniture $8,000; jewellery $10,000; What is the tax effect of these sales transactions
Role of project management in developing a strategic plan : Reflect on the process of completing your strategic plan for the unified HIM department of Gateway Healthcare Systems. Discuss the role of project management in
Define yourself as a leader : Define yourself as a leader. Will be required to submit a final Self-reflection paper on leadership. This final should focus on the following issues:
Explain why this company would require short-term financing : Explain why this company would require short-term financing. Explain what three types of collateral a business like this could use to secure financing
Effectiveness of the recruitment and selection strategies : For the local company Pathao (the similar Fortune 500 company UBER), need explanations, in details, about the recruitment and selection strategies the organizat

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