In comparing the Interest income with the divident income it is evident that

In comparing the interest income with the divident

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Points earned: /5 (1 point each) NOTE: Must show calculations to earn B. Divided income form Zig co. Taxes on Divided income After tax amount
n credit. $20,000 $20,000 * 40% $8,000 $12,000 $20,000 m Tank $20,000 70% $14,000 m Tank Ind. $6,000 $6,000 40% $2,400 $2,400 $17,600
a. Calculate the amount of capital gain, if any, realized on each of the assets. b. Calculate the tax on the sale of each asset. P2-6 Capital gains taxes Perkins Manufacturing is considering the sale of two nondepreciable assetswas purchased for $2,000 and will be sold today for $2,250. Asset Y was purchased for $30,000 and wfor $35,000. The firm is subject to a 40% tax rate on capital gains.
Points earned: /2 (1 point each) NOTE: Must show calculations to earn credit. A. Asset X sale price $2,250 Purchase price $2,000 Net Gain $250 Asset Y sale Price $35,000 Purchase Price $30,000 Net Gain $5,000 B. Tax on sale of Asset X $250 40% $100 Tax on sale of Asset Y $5,000 40% $2,000 , X and Y. Asset X will be sold today

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