In September 2020 Kevin sells a drawing for 2,000. He bought the drawing in February 2014 for
Question:
In September 2020 Kevin sells a drawing for £2,000. He bought the drawing in February 2014 for £50,000 when it was thought (incorrectly) to be by a famous artist. Compute the allowable loss.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Deemed sale pr...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
In September 2021 Kevin sells a drawing for 2,000. He bought the drawing in February 2015 for 50,000 when it was thought (incorrectly) to be by a famous artist. Compute the allowable loss.
-
In September 2017 Kevin sells a drawing for 2,000. He bought the drawing in February 2011 for 50,000 when it was thought (incorrectly) to be by a famous artist. Compute the allowable loss.
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
QUESTION 2 A non-symmetrical rigid jointed portal frame ABCD is fixed at A and D. It carries a trapezoidal distributed load acts along beam BC as illustrated in Figure Q2. The frame was constructed...
-
Write down the financial analysis report of Joe traders
-
Figure 7.3 passes integer max_items to the queue abstraction as a generic parameter. Write an alternative version of the code that makes max_items a parameter to the queue constructor instead. What...
-
A company starts its year with inventory of 2m and ends with 3m. If it had an overall cost of sales of 12.5m, what was its stockturn in days? a. 85 days b. 1,825 days c. 73 days d. 7.3 days
-
An advertising executive wants to estimate the mean amount of time that consumers spend with digital media daily. From past studies, the standard deviation is estimated as 45 minutes. a. What sample...
-
The equation gives parame equations and parameter intervals for the motion of a particle in the xy-plane. Identify the particle's path by finding a Cartesian equation for it. Graph the Cartesian...
-
In January 2021 Karl sells a one-quarter interest in a chattel for 2,500. On the date of this sale, the remaining three-quarters interest is valued at 8,500. The chattel had cost Karl 3,850 in...
-
In October 2020 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 2012. Compute the chargeable gain.
-
When is the indirect strategy in communicating bad news preferable?
-
Flextrola, Inc., an electronic systems integrator, plans to design a key component for its next-generation product with Solectrics. Flextrola will integrate the component with some software and then...
-
The assets and liabilities of a company are $ 1 3 6 , 9 1 1 and $ 8 3 , 0 3 9 , respectively. what is the Owner's equity should be?
-
Estimating Terminal Value: When creating a discounted cash flow valuation, analysts typically need to figure out a company's terminal value. This estimate can be prepared in three different ways: (1)...
-
SHOW ALL CALCULATIONS The following information pertains to Apex Company s defined benefit pension plan for 2 0 2 1 : 1 / 1 / 2 3 Accumulated OCI - Prior service cost 1 8 9 , 0 0 0 1 / 1 / 2 3...
-
Analyzing Interest Rates The Federal Reserve has control over the nation's monetary policy. Through adjusting the required reserve ratio, buying and selling government bonds on the open market, or...
-
With what players in an organization does the finance manager work to ensure proper financial controls are in place? Can you give a real-world example of a situation in which this relationship was...
-
For a Poisson process of rate , the Bernoulli arrival approximation assumes that in any very small interval of length , there is either 0 arrivals with probability 1- or 1 arrival with probability ....
-
Which of the following are chargeable assets for CGT purposes? (a) shares in a limited company (b) gilt-edged securities (c) an antique table worth 20,000 (d) an antique chair worth 5,000 (e) a...
-
Four taxpayers each make three chargeable disposals during 2017-18. Compute their taxable gains for the year (assuming that there are no unrelieved losses brought forward or carried back) if these...
-
(a) Sabrina has two employments throughout 2017 -18. Calculate the ref und of NICs due for the year if her regular monthly earnings from the two employments are: (i) 850 and 1,250 (ii) 2,000 and...
-
Compute the missing amount in the accounting equation for each entity from the financial information? presented: AssetsLiabilitiesEquityFresh Produce$ ?$40,000$26,000Hudson Gift and...
-
XYZ Insurance Company maintains an extensive computer database with information about its policyholders. Data for new policyholders is constantly added and data for existing policyholders is updated....
-
An advantage of using a cold site as a recovery option is less expensive recovery option. Question 9 options: True False
Study smarter with the SolutionInn App