Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Apr 01, 2022

Ralph purchased a boat for $16,000 on 1 July 2015 and sold it for $20,000 on 1 July 2019. What is the minimum assessable capital

Ralph purchased a boat for $16,000 on 1 July 2015 and sold it for $20,000 on 1 July 2019. What is the minimum assessable capital gain on the boat to be included in his tax return for 2019/2020?

a. $0

b. $2000

c. $4000

d. None of the above

Step by Step Solution

★★★★★

3.27 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

Answer Given data 1The purchasing price of boat is ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Discrete Mathematics and Its Applications

Authors: Kenneth H. Rosen

7th edition

0073383090, 978-0073383095

More Books

Students also viewed these Accounting questions

Question

★★★★★

Which of the following statements regarding grossed-up monetary value is correct? 1. The grossed-up monetary value of the fringe benefit is simply a figure meant to represent the entire income earned...

Answered: 1 week ago

Question

★★★★★

What is the minimum angle your eye can resolve, according to the Rayleigh criterion and the above assumptions? A. 0.862 10-4 rad B. 1.05 10-4 rad C. 1.43 10-4 rad D. 1.95 10-4 rad

Answered: 1 week ago

Question

★★★★★

What is the minimum angular speed at which Michelsons eight-sided mirror would have had to rotate to reflect light into an observers eye by succeeding mirror faces?

Answered: 1 week ago

Question

★★★★★

How will you sort 1 PB numbers? 1 PB = 1000 TB.

Answered: 1 week ago

Question

★★★★★

Scores are shown for the most recent state civil service exam taken by 24 applicants for positions in law enforcement. (a) Calculate the mean, median, and mode. (b) Is the distribution skewed?...

Answered: 1 week ago

Question

★★★★★

6. Suppose that T E .c(R4,R2). (a) If T(O, 1, 1, 0) = (3,4), T(O, 1, -1, 0) = (4,3), and T(O, 0, 0, -1) = (7l', 3), find all possible matrix representatives of T. (b) If T(I, 1, 0, 0) = (5,4), T(O,...

Answered: 1 week ago

Question

★★★★★

Are basic assumptions for parametric, inferential statistics met (i.e., normal distribution, level of measurement, and randomization)?

Answered: 1 week ago

Question

★★★★★

(1) Suppose the price of coffee beans increases by $0.20 per pound. What is the effect of this raw material price increase on the demand for roasted coffee? If one pound produces 50 cups of coffee,...

Answered: 1 week ago

Question

★★★★★

estle signed a 4-year finance January 1,20 life of 5-years. The lease paymen payment due Ja purchase option for Nestle. Using a 10% discount rate, w record as "right of use asset"? requires annual...

Answered: 1 week ago

Question

★★★★★

Use the following data to calculate the variances in the following questions. Standard Cost Profile Lab Treatment SU #12 Expected Treatments= 1,000 Standard Cost Profile Lab Treatment SU #12 Expected...

Answered: 1 week ago

Question

★★★★★

How are interest rates and the value of savings related? Group of answer choices The lower the interest rate, the higher the value of savings. The higher the interest rate, the higher the value of...

Answered: 1 week ago

Question

★★★★★

1. A source of yellow light ( = 570 nm) produces interference through two narrow slits separated by a distance of 0.01cm. A screen is placed 3m away. a. How far from the central max is the fifth...

Answered: 1 week ago

Question

★★★★★

You are revising your company's talent acquisition strategy to make it more competitive and appealing to potential candidates. Part of your strategy involves clearly presenting the compensation...

Answered: 1 week ago

Question

★★★★★

Inventory Land Book Value Fair Value $ 630,000 $ 600,000 750,000 990,000 1,700,000 2,000,000 Buildings Customer relationships Accounts payable 0 (80,000) Common stock (2,000,000) Additional paid-in...

Answered: 1 week ago

Question

★★★★★

The standard Treasury Bond futures contract has a face value of $100,000, at least 15 years to maturity and a coupon of 6%, payable semi-annually. The quoted price of the futures contract is based on...

Answered: 1 week ago

Question

★★★★★

15. What option allows the scheduler to go in and look at the information "behind" the scheduled appointments? For example, date "appointment made", wait times, service connection, etc).

Answered: 1 week ago

Question

★★★★★

Help Save & Exit Submi Dacosta Corporation had only one job in process on May 1 The job had been charged with $2,650 of direct materials, $6,990 of direct labor, and $10,174 of manufacturing overhead...

Answered: 1 week ago

Question

★★★★★

Listed below are common types of current liabilities, contingencies, and commitments: a. Accounts payable b. Bank loans and commercial paper c. Notes payable d. Dividends payable e. Sales and excise...

Answered: 1 week ago

Question

★★★★★

A company stores products in a warehouse. Storage bins in this warehouse are specified by their aisle, location in the aisle, and shelf. There are 50 aisles, 85 horizontal locations in each aisle,...

Answered: 1 week ago

Question

★★★★★

Let M = (S, I, f, s0, F) be a deterministic finite-state automaton. Show that the language recognized by M, L(M), is infinite if and only if there is a word x recognized by M with l(x) |S|.

Answered: 1 week ago

Question

★★★★★

How does the number of multiplications used by the algorithm in Exercise 24 compare to the number of multiplications used by Algorithm 2 to evaluate a2n?

Answered: 1 week ago

Question

★★★★★

The Snappy Service gas station manager is thinking about a promotion that she hopes will bring in more business to the full-service island. She is considering the option that when a customer requests...

Answered: 1 week ago

Question

★★★★★

Why do some systems store the operating system in firmware, while others store it on disk?

Answered: 1 week ago

Question

★★★★★

Suppose the managers at FedEx/Kinkos wish to meet the increasing demand for color photocopies and to have more reliable service. (Refer to Problem 4-36). As a goal, they would like to have at least a...

Answered: 1 week ago

Previous Question Next Question