At the end of Malasia Inc.'s third fiscal quarter in 2020, the shareholders' equity section of the balance sheet was as follows. Shareholders' Equity Common Shares, unlimited authorized, 75,000 issued and $880,000 outstanding Retained Earnings $506,000| $1,386,000 Total Shareholders' Equity In the fourth quarter of 2020, the following entries related to its equity accounts were recorded. Date Account Title and Explanation Debit Credit Nov 2 Retained Earnings 119,000 Dividends Payable 119,000 Nov 25 Dividends Payable 119,000 Cash 119,000 Nov 30 Retained Earnings 137,000 Common Stock Dividends Distributable 137,000 Dec 5 Common Stock Dividends Distributable 137,000 Common Shares 137,000 Complete the following table showing the equity balances at each indicated date. Nov 2 Nov 25 Nov 30 Dec 5 Common Shares Common Stock Dividends Distributable Retained Earnings Total Shareholders' Equity

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Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.