In October 2017 Keith sells an antique cabinet for 7,200. He incurs incidental costs of disposal amounting
Question:
In October 2017 Keith sells an antique cabinet for £7,200. He incurs incidental costs of disposal amounting to £200. The cabinet cost Keith £2,300 in July 2009 . Compute the chargeable gain.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
To compute the chargeable gain we first need to understand what a chargeable gain is In simple ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
In October 2021 Keith sells an antique cabinet for 7,200. He incurs incidental costs of disposal amounting to 200. The cabinet cost Keith 2,300 in July 2013. Compute the chargeable gain.
-
During the year ended 5 April 2021 Eric (a higher rate taxpayer) disposed of the following asset: (i) A small cottage in Devon which he had inherited in August 1988 when its value was 20,000 and he...
-
Peter buys a chargeable asset for 26,000 in May 2008 . He sells a one-quarter interest in the asset for 12,000 in August 2017 , incurring incidental costs of disposal of 500. The value of the other...
-
Given a shaky economy and high heating costs, more and more households are struggling to pay utility bills (The Wall Street Journal, February, 14, 2008). Particularly hard hit are households with...
-
A sampled injection-molded part could have been produced in either one of two presses and in any one of the eight cavities in each press.
-
Vernier scale. The figure below shows a scale found on instruments such as a micrometer caliper used for accurately measuring dimensions of objects. The lower scale slides along the upper scale and...
-
What can be done to stimulate creativity in decision making?
-
Following are typical questions that might appear on an internal control questionnaire for investments in marketable securities. 1. Is custody of investment securities maintained by an employee who...
-
Question 4 (1 point) Triangle RST has coordinates R(-1,7), S(3,-1), and T (9,2). Is this a right triangle? Prove your answer why or why not. O No, this is not a right triangle because none of the...
-
In March 2018, Naomi sells an oil painting which she had acquired many years previously for 10,000. Compute the allowable loss if she sells the painting for: (a) 7,200 (b) 5,700
-
In December 2017 , Michael sells a piece of antique furniture for 6,360, paying incidental disposal costs of 320. He had acquir ed the furniture in January 2010 as a gift from his mother. Compute...
-
The Haber Process uses a metal oxide catalyst to produce ammonia gas. Does the catalyst increase the amount of ammonia gas? Explain.
-
A person walks 95.29 m with a speed of 656.1 m/s. For how long did the person walk?
-
In what ways did the ideas of John Locke influence theDeclaration of Independence? How was the English Bill ofRights reflected in the U.S. Bill of Rights?
-
What role does stakeholder analysis and engagement play in the successful execution of complex projects, and how can project managers navigate competing interests to achieve project objectives ?
-
Board of Education All of these responses are correct Decreased civil rights for racial minorities Increased the power of the national government at the expense of the states Limited the Tenth...
-
How can project managers leverage advanced risk management methodologies to anticipate potential disruptions, mitigate uncertainties, and ensure project continuity ?
-
Home Furnishings reports inventory using the lower-of-cost-or-market method. Below is information related to its year-end inventory. Required: 1. Calculate ending inventory under...
-
4. Jobe dy -Y 2 et by
-
PCC Ltd is a manufacturing company which prepares accounts to 31 December each year. The company made the following disposals of chargeable assets in the year to 31 December 2020: (i) On 12 September...
-
A company made the following disposals during the year to 31 March 2021: (a) A factory building was sold for 650,000 on 13 June 2020. This building had cost 300,000 in August 2000 (RPI 170.5) and was...
-
A company made the following acquisitions of ordinary shares in Rujan plc: The market value of the shares on 31 March 1982 (RPI 79.44) was 2.50 each. In June 2004 (RPI 186.8), Rujan plc made a 1 for...
-
Question 4 of 6 < > -/15 Current Attempt in Progress Sheridan Company has accounts receivable of $202,000 at September 30, 2024. An analysis of the accounts shows the following: Month of Sale Balance...
-
The charge on your rent-to-own washer is $40 per month. After 32 months, you get to keep the washer. How much does the washing machine end up costing you? Cost of washing machine
-
Prepare horizontal analysis on income statement below: Bristol Myers Squibb Co. (NYS: BMY) Report Date 2020 2019 2018 Net product sales 41,321 25,174 21,581 Alliance & other revenues 1,197 971 980...
Study smarter with the SolutionInn App