Kevin bought 205 shares of Intel stock on January 1, 2020, for $52 per share, with a brokerage fee of $105. Then, Kevin sells all 205 shares for $76 per share on December 12, 2020. The brokerage fee on the sale was $155. What is the amount of the gain/loss Kevin must report on his 2020 tax return

Answers

Answer 1

Answer: $4660

Explanation:

Firstly, we need to calculate the amount that Kevin realized on the shares which will be:

= (205 × $76) - $155

= $15580 - $155

= $15425

The purchase value will be calculated as:

= (205 × $52) + $105

= $10660 + $105

= $10765

Therefore, the gain that Kevin must report on his 2020 tax return will be:

= $15425 - $10765

= $4660


Related Questions

The East Company manufactures several different products. Unit costs associated with Product ORD105 are as follows: Direct materials $92 Direct manufacturing labor 32 Variable manufacturing overhead 12 Fixed manufacturing overhead 32 Sales commissions (2% of sales) 26 Administrative salaries 6 Total $200 What is the percentage of the total variable costs per unit associated with Product ORD105 with respect to total cost

Answers

Answer:

81%

Explanation:

Variable cost per unit = Direct material + Direct manufacturing labor + Variable manufacturing overhead + Sales commission

Variable cost per unit = $92 + $32 + $12 + $26

Variable cost per unit = $162

Total cost per unit = $200

Percentage of variable cost per unit to Total cost per unit = Variable cost per unit/Total cost per unit = 162/200 = 0.81 = 81%

Your Boston-headquartered manufacturing company, Wruck Enterprises, obtained a 54-million-peso loan from a Mexico City bank last month to fund the expansion of your Monterrey, Mexico, plant. The exchange rate was 14 U.S. cents per peso when you took out the loan, but since then the exchange rate has dropped to 7 U.S. cents per peso. Has Wruck Enterprises made a gain or a loss due to the exchange rate change, and how much

Answers

Answer: 3.78 million dollars

Explanation:

Based on the information given in the question, the amount of money that Wruck Enterprises would pay when the exchange rate is 7 US cents per peso would be:

= 54-million × 7 cent

= 378,000,000 cent

= 3.78 million dollars

When the exchange rate was 14 U.S. cents per peso , the amount paid would have been:

= 54 million × 14 cent

= 756,000,000 cent

= 7.56 million dollars

Therefore, Wruck Enterprises made a gain of (7.56 million - 3.78 million) = 3.78 million dollars

Which of the following should not be a major consideration when it comes to selecting your career path?


What your parents think you should do

What you are passionate about

What you are naturally good at

What your interests are

Answers

Answer: I believe its : what your interest's are

Explanation:

A system that monitors network use for potential hacking attempts and takes preventative action to block, isolate, or identify attempted infiltration, and raise further alarms to warn security personnel is known as a(n):_________.a. patching systemb. honeypot systemc. firewall systemd. intrusion detection systeme. whitelist

Answers

Answer:

d. intrusion detection system

Explanation:

An intrusion detection system is a device or software for the violations of the policy or any malicious activity

Now in the given situation it is mentioned that the system that checks the use of the network for the hacking attempt and takes the prevention steps to block and raise the additional alarm in order to warn the security persons

So this represent the intrusion detection system

Hence, the correct option is d.

In Maslow's hierarchy, managers must first ensure a person's _______ needs are fulfilled in order to have a motivated workforce.
a. esteemb. belongingnessc. physiologicald. sociale. self-actualization

Answers

Answer:

c. Psychological

Explanation:

Maslow's heirachy of needs states that people are driven to find a job or a means of livelihood because of various motivation factors. These needs must be satisfied before a person looks to obtain other less important needs.

The first level of needs are the psychological needs. These have to be satisfied before an employee will look to other needs.

They include man's basic needs to live like food, shelter, and clothing.

After these are satisfied one can now focused on security needs, social needs, esteem needs, and self actualization.

In the domestic market, following the imposition of a voluntary quota, imports ________, domestic production ________, and prices ________.

a. increase; decreases; decrease
b. decrease; decreases; increase
c. decrease; increases; increase
d. increase; increases; increase
e. decrease; increases; decrease

Answers

Answer:

c. decrease; increases; increase

Explanation:

In the case of the domestic market, the import quota would be considered as an upper limit where the country could import

Now when the import quota would imposed so the import would decreased, the domestic production would increased and the price is also increased

hence, the correct option is c

And, the rest of the options are incorrect

Which characteristics make it so that perfectly competitive firms and monopolistically competitive firms have zero economic profit in the long run?

Answers

Answer:

A.  Homogeneous product and perfect information

Explanation:

The characteristics in which the perfectly competitive market and the monopolistic market would have zero economic profit in the long run that should be the same product and perfect information as the high prices would vary . Also it decreases the asymmetric information

Therefore as per the given situation, the correct option is A

General Talc Mines has compiled the following data regarding the marker value and cost of the specific sources of capital. Market price per share of common stock-$50. Market value of long-term debt-$980 per bond.
The weighted average cost of capital using market value weights is: ________.
A- 11.7%
B- 13.5%
C- 15.8%
D- 17.5%
E- 14.4%

Answers

Answer:

D- 17.5%

Explanation:

Hi your question was incomplete see the  attached  full question as an image

The Average Cost of Capital is the return that is required by providers of Long term Permanent Sources of Finance

WACC = 8% × 0.05 + 19% × 0.95

           = 18 %

Baker is single and earned $225,200 of salary as an employee in 2018. How much should his employer have withheld from his paycheck for FICA taxes? (Rounded to the nearest whole dollar amount)
A) $11,453
B) $10,861
C) $10,415
D) $15,892

Answers

Answer: $11,453

Explanation:

In 2008:

FICA-Social Security tax was payable at 6.2% of a limit of $128,400.

FICA-Medicare tax was payable at 1.45% of the total amount of $225,200.

Additional Medicare tax was payable on any amount in excess of $200,000 at 0.9%.

= (6.2% * 128,400) + (225,200 * 1.45%) + ( (225,200 - 200,000) * 0.9%))

= $11,453

Kim thinks that she is going to love working for her new company, as it is very informal with a lot of cross-functional teams with members from different departments. This is an example of what kind of structure?

Answers

Answer:

Organic

Explanation:

An organic structure in a company has an extremely flat reporting structure. Employees tend to interact among themselves and not along different management levels or direct reports.

This structure affects decision making which is more by consensus. Decision does not lie with a single manager.

In the given scenario the organisation where Kim wants to work is very informal with a lot of cross-functional teams with members from different departments.

This is an organic organisation structure

All member states of the European Union apply a single set of tariffs, called the ____ tariff, on goods imported from outside the European Union

Answers

Answer:

Common Customs

Explanation:

A tariff is a form of tax levied on the import of goods and services. It is used to regulate the import of goods.

Tariffs are used to regulate imports as they increase the price of imports

A wholly owned international subsidiary exists when a company owns 100% equity control of a foreign subsidiary.
a. true
b. false

Answers

Answer: a. true

Explanation:

A wholly owned subsidiary as the term implies means that the company is question has all 100% of its equity owned by another company which will be referred to as the parent company.

If the company(subsidiary) happens to be in another country and is still 100% owned by a company not in the country, the subsidiary is a wholly owned international subsidiary.

****ECONOMICS****Which situation is an example of a person making use of credit?

A. A mechanic borrows money from a bank to buy a new set of
expensive tools.

B. A farmer changes the type of crops she grows to make a greater
profit.

C. An architect puts his weekly paychecks into a savings account at
a local bank.

D. A college student saves money in order to buy a cheap used car.

Answers

Answer:

A.

Explanation:

Using credit is borrowing.

The situation that represents the example of using credit is borrowing some money for purchasing expensive tools.

The following information does not relate to the usage of credit:

When the types of crops vary for the highest profit. When the architect puts the weekly paychecks at the local bank.And, when the college student saved the money for purchasing the cheap and used car.

Based on the above information we can conclude that the situation that represents the example of using credit is borrowing some money for purchasing expensive tools.

Learn more: brainly.com/question/23020158

On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $67,800. The band estimates it will use this equipment for five years, during which time it anticipates performing about 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During year 2017, the band performs 45 concerts. Compute the year 2017 depreciation using the straight-line method.

Answers

Answer:

Annual depreciation= $13,160

Explanation:

Giving the following information:

Purchase price= $67,800.

Useful life in years= 5 years

Salvage value= $2,000.

To calculate the annual depreciation under the straight line method, we need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (67,800 - 2,000) / 5

Annual depreciation= $13,160

If Smart Touch Learning increases its production of tabletâ computers, what will be the effects on the variable and fixed costs perâ tablet?

Answers

Answer:

D. variable costs per tablet is constant, fixed costs per tablet decrease

Explanation:

The variable cost is that cost that changes with the output level but would remains the same at per unit. While on the other hand the fixed cost is the cost that remains fixed whether there is an increase or decrease in the output level

Therefore as per the given situation, the variable cost per tablet would remain constant while the fixed cost per table would reduce

hence, the correct option is d.

Studies have shown that the single greatest factor preventing travelers from taking a group tour is their aversion to airline travel.

True or False

Answers

Answer:

True

Explanation:

im not sure qwq

The aggregate planning approach that lends itself to examining many solutions is:_________
A. the transportation method of linear programming.
B. graphical techniques.
C. the linear decision rule.
D. Bowman's management coefficients model.

Answers

Answer:

B. graphical techniques.

Explanation:

The graphical methods would be applied in the case when the facts are assessed in a quantitive way. Also it is a main part for the investigation that contains exploratory information

Therefore in the given situation, for examining many solutions under the aggregate planning approach the graphical techniques would be considered

hence, the correct option is B

g A Mortgage Backed Bond is: Group of answer choices a. A mortgage-backed security that pass-through promised payments of principal and interest on pools of mortgages b. A mortgage-backed security issued in multiple classes or tranches c. A bond collateralized by a pool of mortgages d. An option to purchase a pool of mortgages e. A loan in which security interest in real estate is granted by a borrower

Answers

Answer:

A Mortgage Backed Bond is:

e. A loan in which security interest in real estate is granted by a borrower.

Explanation:

A mortgage backed bond is tied to or secured on a real estate asset.  This implies that the bond is not just a promise to pay a debt obligation but the attached promise is secured or backed by some real assets.  There is extra security provided for the bond because specific assets are identified as securities for the bond.  Since the bonds are associated with some real assets, the assets can be traded in the event that the debt obligations are not met.

When a finalist does not get a job offer, they are likely to perceive ________.

a. low procedural fairness
b. low distributive fairness
c. low interactional fairness
d. high interactional fairness

Answers

Answer:

b. low distributive fairness

Explanation:

Staffing is simply ways or means of acquirement, deployment, and retainant of a workforce of sufficient quantity and quality so as to give or bring about (create) positive impacts on the organization's/firm effectiveness. There are Three types of justice. They are: Distributive, procedural, and interactional. Distributive justice is based on perceived fairness of decision-making outcomes.

Distributive fairness is the perceived fairness of the hiring or promotion outcome.. when distributive justice is low, it means that there is a lack of fairness that people are getting rewarded what they should.

Economies of scale are associated with:________
a. indivisible setup costs.
b. diminishing marginal productivity.
c. zero setup costs.
d. the short run.

Answers

Answer:

b. diminishing marginal productivity.

Explanation:

Economies of scale means that as total output increases, the average total cost per unit decreases. This continues until a point where marginal costs will start to increase as well as average total cost per unit. In other words, marginal productivity decreases as total output increases, and at one point it will become negative.

A firm has a return on equity of 16 percent. The total asset turnover is 1.5 and the profit margin is 9 percent. The total equity is $3,500. What is the net income?

Answers

Answer:

the net income is $560

Explanation:

The computation of the net income is shown below;

Return on equity (ROE) = net income ÷ total equity

16% = net income ÷ $3,500

net income = $3,500 × 16%

= $560

hence, the net income is $560

We simply applied the above formula so that the correct value could come

And, the same is to be considered

On August 1, a $39,600, 8%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest of $15,366.13. The entry to record the first payment on July 31 would include: Multiple Choice Debit to Cash of $15,366.13. Credit to Notes Payable of $15,366.13 Debit to Interest Expense of $3,168.00. Debit to Notes Payable of $15,366.13 Credit to Cash $12,198.13

Answers

Answer:

Debit to Notes Payable of $15,366.13

Explanation:

The Notes Payable are debited and Cash is Credited. This is done to show the decrease in the Liability and a decrease in Assets as a result of the repayment.

Lacy set her textbook under her chair in her business law class and then forgot to take it with her when she left the classroom. A janitor later discovered the textbook and gave it to the Dean of the Business College. In this situation:___________.a. the college is a constructive bailee, obligated to return the textbook to Lacy, and until it does, it is liable for harm to the property.b. the college is a bailee by agreement because holding items in a lost and found box is generally part of the college-student agreement when the student enrolls for classes.c. the college is responsible for the discovered textbook because in this situation, the college is subject to implied warranties unless the college has disclaimed such warranties in the student handbook.d. this is a bailment for the sole benefit of the bailee.

Answers

Answer:

a. the college is a constructive bailee, obligated to return the textbook to Lacy, and until it does, it is liable for harm to the property.

Explanation:

When a party comes into possession of a property not by contractual agreement, they are referred to as constructive bailee and are obligated to take care of the property till it is returned to the owner.

The bailee does not willingly take possession of the property, rather unforseen circumstances leads to them possessing it.

This is common when a person forgets his property in a place.

In the given scenario the college (Dean of Business College) became a constructive bailee when they recieved the misplaced textbook. So they are obligated to care for the textbook till it get back to Lacy or be held liable for any harm done

If Congress votes to increase spending and taxes by the same amount, what is the effect on employment and interest rates

Answers

Answer:

a. Increase / Increase

Explanation:

Since in the question it is mentioned that there is an increase in taxes and government spending so it represents the positive stimuls as it occurs because the government incurrent all the revenue for the public welfare due to which there is a rise in the government expenditure that boost the aggregate demand also the GDP value would be rise because of the multiplier effect

Therefore the employment level and the rate of interest would also increased

Answer:

The correct answer was increase / no change

Explanation:

Just took the test

A time draft is a negotiable instrument, which means that it:_______
a. is also known as a bill of lading.
b. has no value given the deferred nature of the document.
c. can be sold to an investor.
d. cannot be transferred.
e. is generally not preferred in international transactions.

Answers

Answer:

c. can be sold to an investor.

Explanation:

The time draft would permits the draft bearer having two options that involved to sell it at a discount prior to the maturity time or hold it till maturity in the case when the amount is fully paid

Therefore as per the given situation, the time draft means that it could be sold to an investor

hence, the correct option is c

ANd, the rest of the options are wrong

A large food chain of health foods stores, sells its common stock at a par value of $20, and the offering price is $10. This means that the capital in excess of a par is

Answers

12 I think is the answer it has jus been answered in my test

A form of corporate equity ownership and a kind of security is common stock. Outside of the United States, the words voting share and ordinary share are widely used. In the UK and other Commonwealth nations, they are referred to as equity shares or ordinary shares.  Hence Capital in Excess pf a par is $ 10. ($20-$10)

What is common Stock ?

This kind of share entitles the bearer to a portion of the company's income as well as voting rights regarding corporate policy and the make-up of the board of directors.

Any specific corporate assets do not belong to common stockholders; instead, they are  owned equally by all shareholders. In the event that a corporation issues both ordinary and preference shares, the preference owners will be paid dividends first.

In the any monies remaining after bondholders, creditors (including employees), and preference shareholders have been paid are distributed to regular shareholders. The typical outcome of a bankruptcy-based liquidation is that the ordinary shareholders receive nothing.

Learn more about common Stock here

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# SPJ 2

Alexis transferred $400,000 to a trust with directions to pay income to her spouse, William, for his life. After William's death the corpus of the trust will pass to William's son. If the life estate is valued at $72,000, what is the total amount of the taxable gifts??

a. $386,000
b. $59,000
c. $374,000
d. $324,000
e. None of these

Answers

Answer:

the  total amount of the taxable gifts is $385,000

Explanation:

The computation of the total amount of the taxable gifts is shown below:

= (The value of the estate - annual exclusion amount) + (transferred amount - The value of the estate)

= ($72,000 - $15,000) + ($400,000  $72,000)

= $385,000

hence, the  total amount of the taxable gifts is $385,000

This is the correct answer but the same is not provided in the given options

We simply applied the above formula so that the correct value could come

And, the same is to be considered

The current FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%. Both taxes are applied to the first $6,000 of an employee's pay. Assume that an employee earned total wages of $11,100. What is the amount of total unemployment taxes the employer must pay on this employee's wages?
A.) $688.20.
B.) $0.00.
C.) $599.40.
D.) $88.80.
E.) $372.00.

Answers

Answer: E.) $372.00.

Explanation:

FUTA and SUTA are applied on the first $6,000.

FUTA Tax = 0.8% * 6,000

= $48

SUTA Tax = 5.4% * 6,000

= $324

Total Unemployment tax = 324 + 48

= $372

Last year Submarine's sales were $25 million. If sales grow at 8% per year, how large (in millions) will they be 6 years later?

Answers

Answer:

The answer is $39.67 million

Explanation:

N(Number of years/Number of periods) = 6

I/Y(Yield-To-Maturity) = 8 percent

FV(Future value/Par value) =?

PV(present value or market value) = $25 milllion

Now to solve this, lets use a financial calculator (e.g Texas BA II plus)

N= 6; I/Y = 8%; PV = -25; CPT FV = 39.67

Therefore, in 6 years, the money will be $39.67 million.

Sheffield Corp. sells its product for $70 per unit. During 2019, it produced 60000 units and sold 50000 units (there was no beginning inventory). Costs per unit are: direct materials $15, direct labor $12, and variable overhead $1. Fixed costs are: $720000 manufacturing overhead, and $90000 selling and administrative expenses. Ending inventory under variable costing is $1400000. $700000. $400000. $280000.

Answers

Answer: $280,000

Explanation:

First find the ending inventory;

= Beginning inventory + Units Produced - Units sold

= 0 + 60,000 - 50,000

= 10,000 units

The find the Variable costs per unit;

= Direct materials + Direct labor - Variable overhead

= 15 + 12 + 1

= $28

Ending inventory under variable costing = 10,000 * 28

= $280,000

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