On 1 July 2019 Mary acquired a little boat for $12524. It was for her personal use. Mary borrowed $12,000 of the money from XYZ Bank. The loan was a fixed interest loan on which Mary paid interest of $2,000. Mary sold the boat in September 2019 for $16157. Required: Calculate Mary's Net Capital Gain or Loss for the 2020 ta: year. Answer:

On 1 July 2019 Mary acquired a little boat for $12524. It was for her personal use. Mary borrowed $12,000 of the money from XYZ Bank. The loan was a fixed interest loan on which Mary paid interest of $2,000. Mary sold the boat in September 2019 for $16157. Required: Calculate Mary's Net Capital Gain or Loss for the 2020 ta: year. Answer:

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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View Policies Current Attempt in Progress Dorothy Thomas sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue $48,000 Cost of goods sold (all variable) 20,000 Gross margin 28,000 8,000 Selling expenses (70% variable) 12,000 Administrative expenses (20% variable) $8,000 Operating income (a) What is Dorothy's degree of operating leverage? (Round answer to 2 decimal places, e.g. 52.75.) Hide Ston sharing
Calculate: D where D=5.96, and r=0.029
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