What is the taxable income on their 2013 joint return?

Q: What does XML stand for?

A: Accounting Information System: AIS collects, records, stores and processes accounting and other data…

Q: What is Reg D?

A: Regulation D (Reg D): It may be a Securities and Exchange Commission (SEC) law confining exceptions…

Q: What is a flat-file system?

A: A flat file system is a system that stores all the data in a single directory.

Q: Define and expain

A: Detailed Explanation of Nursing1. Patient Care:Direct Care: Nurses provide hands-on care to…

Q: Explain IO and PO Strips?

A: Interest only (IO) strips are a financial product shaped by unraveling the principal and interest…

Q: What is a NIC?

A: NIC:  NIC stands for network interface card. NIC is an electronic device that provides circuit to…

Q: Read and interpret anincome statement.

A: It shows the income generated by the company.

Q: The acco

A: Accounting equation has been considered as the origination of double entry accounting system. This…

Q: What is Miller model?

A: It represents the impact of individual taxes or personal taxes into the valuation of a levered firm,…

Q: Define NRV method.

A: Definition:   Product costs: The costs incurred to acquire the merchandise, ship the stock, prepare…

Q: Identify the gragh?

A: Part a: Total direct material cost increases or decreases in direct proportion to change in activity…

Q: lanagemenl A ler

A: The right answer is option a. cost centre

Q: Define white knight

A: A white knight is hostile acquisition security by which a 'friendliness' person or business who…

Q: What is CAPM? How about APT?

A: CAPM and APT are two common models for pricing used in finance. These are explained below.

Q: Activity F stomer Service

A: 1) S. Inc Activity rate = Total activity cost ÷ Activity Base Customer Service = $29,190 ÷ 210 =…

Q: when do you use FIFO vs LIFO?

A: First-in-First out method - Under this method goods that are brought at earlier dates are sold first…

Q: What is alpha transfer?

A: The term ‘Alpha’ refers to the active return on investment. In other words, the excess return from…

Q: What is RAROC?

A: RAROC stands for Risk-Adjusted Return on Capital. It is a financial metric used by banks and other…

Q: Define Will.

A: A will is a legal document in which a person specifies how his property is going to be distributed…

Q: Describe the features of JIT.

A:

Q: Define call protection

A: A financial instrument that does not affect the ownership of the common shareholders or management…

Q: I, J, K

A: i. Payment of interest would include an outflow of cash and also an increase in interest expense.

Q: Explain FIFO & LIFO

A: The answer is provided as follows:

Q: What is APR?

A: In US, calculation as well as disclosure of Annual Percentage Rate is basically government by an act…

Q: Define spin-out

A: Introduction: Spinouts helps the parent corporation by permitting it to emphasis on its core…

Q: Thebankbalanceinthecashbookandthatofthebankstatementmaydisgracebecauseof

A: Bank balance as per cash book means cash balance in the books. Balance as per bank statement means…

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.