In 2023, Kal-El bought $20,000 of Bitcoin, then exchanged it for $30,000 of Ethereum, allthrough one crypto exchange. What will be reported on the 1099-K in 2023?A) $20,000 gross proceedsB) $30,000 gross proceedsC) Nothing since one digital asset was exchanged for another digital assetD) $10,000 gross proceeds

The form is issued by payment settlement entities, such as credit card companies or third-party…

Answered: In 2023, Kal-El bought $20,000 of…

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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1. what amount should be used as the initial cash flow for this project and why?? 2. What is the after-tax salvage value for the spectrometer? 3. What is the MPV of the project? Should the firm accept or reject this project?
Pleaseeee help me with the problem formula
5) Your priceless art collection is stolen (the Gregcasso!), you paid $10,000 for it (sorry no insurance) next you sold your Mutual funds for $3,700 and your ACB was $2,250 with no outlays and expenses. Calculate the combined effect of both Dispositions and what is your Capital gain or loss. 6) You purchased 1,000 units of Mutual funds for 10,000 total in 2015. In 2016 you purchased another 500 units at $9.50 a unit, In 2017 another 600 units at $10.50 a unit were purchased and in 2019 400 units at $11 a unit were added. Calculate the average cost base that you would have per unit for the Mutual funds at the end of 2020.
Last year, company Z invested £10m to develop a new software. However, all of its customers have now switched to a different operative system that is incompatible with Z's software. It is estimated that upgrading the software to make it compatible will cost £5m. The company should upgrade the software if the present value of the future stream of cash flows generated by the project is larger than (in £m) A. 15(1+r) B. 10(1+r) C. 10(1+r)+5 D. 5
6- In 2021 your firm had 5 computers each with a market value of $4,000. In the same year you spent $1,0000 for their maintenance and upgrading, and purchased 2 new computers each with a market value of $2,000. By the end of 2021, the total market value of your original 5 computers had dropped to $3,000 (others remained the same). Now we are in 2022. Which of the below are true? 1. II. Your capital stock now is $6,000. Your capital stock now is $8,000. Your capital stock did not change from 2021 to 2022. In 2021 you invested $2,000 and depreciation was $2,000. In 2021 you invested $3,000 and depreciation was $1,000. II. IV. V. a) I and IV. b) Il and IV. c)I and V. d) II and IV. e) Il and V.
3. On January 1, 2022, JPIA Company capitalized a new word processing software package that it had developed. The total cost recorded was P9, 000, 000 and the product is expected to generate revenue for three years. Revenue from the sale of software for 2022 was P24, 000, 000 and the total expected revenue for the three years is P80, 000, 000. The net realizable value of the software was P7, 200, 000 on December 31, 2022. What amount should be charged to software amortization expense for the year ended December 31, 2022?
18. Suppose the marine salvage company described in the previous problem has located another ship that also contains treasure that could be sold for $12.1 million if it were brought to the surface. The firm is certain that if it invests $6.6 million now, it can recover the treasure in 1 year at no additional cost. The uncertainty now relates to the ownership of the ship. A government agency is currently considering whether the treasure found at this location belongs wholly to the finder or must be shared with a previous owner. In the latter case, the finder would be allowed to recover its direct costs ($6.6 million) but would have to turn over to the previous owner the remaining proceeds from the sale of the treasure. A ruling on this issue is expected in 1 salvąge company's manager believes the probability of a favorable ruling is 0.3. The rate of interest is 10%. What is the expected NPV of waiting until the ownership issue is settled in 1 year before deciding whether to undertake…
Please Explain the following thoroughly Include how to find the Book value and formula and how to to find the net cash flow with formula. Ronnie's Custom Cars purchased some fixed assets two years ago for $35,000. The assets areclassified as 5-year property for MACRS. Ronnie is considering selling these assets now sohe can buy some newer fixed assets which utilize the latest in technology. Ronnie has beenoffered $19,500 for his old assets. What is the net cash flow from the salvage value if the taxrate is 34 percent?
Assume that you’ve just inherited $100,000 and wish to use all or part of it to make a real estate investment. Would you invest directly in real estate, or indirectly through something like a REIT? Explain. Assuming that you decided to invest directly, would you invest in income-producing property or speculative property? Why? Describe the key characteristics of the types of income producing or speculative property you would seek. What financial and nonfinancial goals would you establish before beginning the search for suitable property? If you decide to invest in real estate indirectly, which type(s) of securities would you buy, and why?
question 2
2. Please help me to answer this completely. Thank you.
Three people Invest in a treasure dive, each Investing the amount listed below. The dive results in 35 gold coins. Using Hamilton's method, apportion those coins to the Investors based on their Investment. Investor Investment Allocation of 35 coins Harrison $19,330 $13,310 Lala Tlara Right before the coins are distributed, the divers find one more coln they had misplaced. Redo the allocation, now with 36 coins Investor Investment Allocation of 36 coins Harrison $19,330 Lala $2,360 Tlara $13,310 $2,360 Does this situation illustrate any apportionment Issues? Select an answer

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