For the year 20x2, Amateur's income under absorption costing was $5,000 lower than its income under variable costing. The company sold 25,000 units during the year. The companies variable costs were $15 per unit, of which $5 were variable selling costs. If the production cost i under absorption costing is $18 per unit, how many units did the company produce during the year? 23333 24722 24500 O 24615

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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.