Zero12,00015,000150,000 Answer is 150,000 how was it solved? Garcia disposed of his principal residence for P2,000,000 andimmediately acquired a new one for P1,800,000. The old residence wasacquired for P1,000,000 and had a fair market value of P2,500,000 on thedate of sale. Compute the capital gains tax on the sale. *

Name: Zero12,00015,000150,000 Answer is 150,000 how was it solved? Garcia di
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Description: Zero12,00015,000150,000 Answer is 150,000 how was it solved? Garcia disposed of his principal residence for P2,000,000 andimmediately acquired a new one for P1,800,000. The old residence wasacquired for P1,000,000 and had a fair market value of P2,50

Capital gains tax rate is 15% Capital gains = disposed value - acquirdd value =…

Answered: and had a fair market value o ompute…

Business

Accounting

and had a fair market value o ompute the capital gains tax on the sale

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Clarita Contracting builds roads, tunnels, bridges, and other transportation infrastructure. The following are the budgeted costs and time (months) to a given stage of completion for a project to upgrade a bridge to current standards. The project was originally estimated to take 25 months to complete. Also presented are the actual results through the first 11 months of the project. Percentage Complete 0% 4% 8% 12% 16% 20% 24% 28% 32% 36% 40% 44% 48% 52% 56% 60% 64% 68% 72% 76% 80% 84% 88% 92% 96% 100% Cost ($000) Budget 0 213 471 775 1,125 1,520 1,961 2,447 2,979 3,557 4,180 4,849 5,563 6,323 7,129 7,980 8,877 9,819 10,807 11,841 12,920 14,045 15,215 16,431 17,693 19,000 Actual 0 112 266 464 706 990 1,317 1,688 2,102 2,559 3,059 3,063 4,189 4,819 Months to Reach Budget Actual 0 5 7 8 9 10 11 12 13 14 14 15 16 17 18 18 19 20 20 21 22 22 23 24 24 25 0 1 1 2 3 4 4 5 6 7 8 9 10 11
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1 $1,000 $950 $80 × + r_r × [1 + r]б (1 + r)
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The balance sheets of Butler, Incorporated and its 70%-owned subsidiary, Cassie Corporation, which Butler has owned for several years presented below: Cash Accounts Receivable (net) Inventory Plant & Equipment (net) Copyright Accounts payable Long-term Debt Noncontrolling interest Common stock, $1 par Retained earnings Additional information for 2024: 2024 $ 16,000 150,000 220,000 315,000 32,000 $ 733,000. $ 120,000 0 77,000 200,000 336, 000 $ 733,000 2 2023 $ 52,000 108,000 178,000 340,000 36,000 $714,000 $ 102,000 70,000 50,000 200,000 292,000 $714,000 • Butler & Cassie's consolidated net income was $100,000. . Cassie paid $10,000 in dividends. • There were no purchases or disposals of plant & equipment or copyright this year. Net cash flow from financing activities was ************
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