Ganda sold 2,000 shares of a domestic corporation directly to a buyer Vice at P180 per share. The shares were 3purchased 3 years ago for P105 per share. How much is the capital gains tax of the above transactions.Select the correct response:54,00090,00022,500Zero A taxpayer may treat research or development expenditures which are paid or incurred by him during the taxableyear in connection with his trade, business or profession as ordinary and necessary expenses which are notchargeable to capital account.Select the correct response:TrueFalseVhong sold 10,000 shares of a domestic corporation directly to a buyer Kim at P200 per share. The shares werepurchased 3 years ago for P205 per share. How much is the capital gains tax of the above transactions.Select the correct response:90,000Zero7,500300,000

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Ganda sold 2,000 shares of a domestic corporation directly to a buyer Vice at P180 per share. The shares were urchased 3 years ago for P105 per share. How much is the capital gains tax of the above transactions. Select the correct response: 54,000 90,000 22,500

Ganda sold 2,000 shares of a domestic corporation directly to a buyer Vice at P180 per share. The shares were urchased 3 years ago for P105 per share. How much is the capital gains tax of the above transactions. Select the correct response: 54,000 90,000 22,500

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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You are a shareholder in a "S" corporation. This corporation earns $4 per share before taxes. After it has paid taxes, it will distribute the remainder of its earnings to you as a dividend. The dividend is income to you, so you will then pay taxes on these earnings. The corporate tax rate is 21% and your tax rate on dividend income is 15%. The effective tax rate on your share of the corporations' earnings is closest to: WHEELSTE • 15% O 21% О 28% O 33% • 36%
Required information [The following information applies to the questions displayed below] Riverbend Incorporated received a $410,000 dividend from Stock it held in Hobble Corporation. Riverbend's taxable Income is $2,520,000 before deducting the dividends-received deduction (DRD), a $83,000 NOL carryover, and a $181,000 charitable contribution. Use Exhibit 16-7 Note: Round your tax rates to 2 decimal places. Leave no answer blank. Enter zero if applicable. e. What is Riverbend's DRD assuming it owns 93 percent of Hobble Corporation (and is part of the same affiliated group)? DRD
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None
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