The amount in year 1 is $

Q: A property was purchased for $5000.00 down and payments of $2500 at the end of every six month for…

A: Cost of financing is that amount which is paid by the borrower for financing the assets. It is that…

Q: P5-46. (Accounting for property taxes) At the start of calendar year 2022, Central City's records…

A: Journal entries refer to the systematic documentation of the financial transactions of a company in…

Q: Calculate the amount of simple interest earned. $1,000 at 4% for 6 years LA

A: Simple interest is a way of calculating the interest charge on a loan or investment where the…

Q: Calculate the amount of simple interest earned. $1,000 at 4% for 7 years

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: By how much will the amortization. Shorten if you make a lump sum payment of $30,000 at the end of…

A: Key references: General Finance

Q: (04-6) Given the following information, calculate the total annual tax liability of the homeowner:…

A: Tax liability is the amount you owe to taxing entities like your local, state, and federal…

Q: Create a separate worksheet from the amortization schedule. Title this worksheet Analysis. In this…

A: given starting income = $ 90,000

Q: Calculate the property tax payment for $3578 annual taxes, paid quarterly.

A: The property tax is the tax imposed on real estate by the government. The property tax is paid for…

Q: 4-56. How much money should be deposited each year for 10 years if you wish to withdraw $400 each…

A:

Q: .4.A certain sum of money amounts to 7/4 of itself in 3 years. The rate percent p.a. is a) 25 % b)…

A: Simple interest is interest computed on principal amount only not on interest accrued or accumulated…

Q: The following revenues were among those reported by Tosa Township in 2018:Net rental revenue (after…

A: The amount of $100,000 as interest earned will be accounted for pension trust fund as it is earned…

Q: The assessed value on a property increased from $342,000 last year to $365,000 in the current year.…

A: Tax- It refers to the compulsory financial charge or levy imposed on a taxpayer by a government…

Q: what is the correcting entry for.. purchasing equipment for $260,000, paying $60,000 cash, and…

A: Since Equipment is purchased for $ 260,000, $ 60,000 cash is paid and 10% note is issued for…

Q: Why is depreciation and interest expense in the excel 300,000 if it states its 3 million?

A: 3 million = 3,000,000

Q: Rank the following from highest present value to lowest present value. A payment of $5000 to be…

A: Option 1. Payment of 5000 N = 5   Option 2. Payment of 5000 N = 2   Option 3. Payment of 2000 in 1…

Q: Principal is $32,000    Interest Rate is 7%    Time is 3 years Total Amount Owed (includes…

A: Interest expense = Principal* Rate* Time

Q: 100 is deposited into an account at the end of each 3-year period for 36 years. The accumulated…

A: Annual effective rate is the real rate at which the money deposited grows.

Q: If P = $ 1000 A = $ 188 and i % = 12 % per year then N = ? (a) 9 years (b) 8 Years (c) 7 Years…

A: Present value considers the time value of money concept. It considers the discounting factor at…

Q: ) What is the accumulated sum of $35 a year for the next 7 years compounded annually at 7%?

A: The accumulated sum can be calculated with the help of future value of annuity.

Q: What is the value of your money at year 3 if you have 1,200$ today and 1,500$ at year 5? (r= 7.12%)

A: Present Value refers to the value of cash flows today which is to be received at some future time…

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.