User Account

All Pages

Compute milts recognized gain or loss on the sale

Assignment Help Financial Management
Reference no: EM13887598

Milt Payner purchased an automobile several years ago for $40,000 and has held it as a personal asset ever since. This year he sold the automobile. Compute Milt's recognized gain or loss on the sale if:

a. Milt's amount realized on sale was $28,300.

b. Milt's amount realized on sale was $55,000. The automobile was a classic Thunderbird and was purchased by a vintage car collector in Boston.

Reference no: EM13887598

Questions Cloud

What is the acceleration of the box : A worker drags a box along a frictionless horizontal floor by pulling on a rope attached to the box. The position of the box is given by x(t) = (1.500 m) + (3.650 m/s)t ? (0.300 m/s 2 )t 2 + (0.089 m/s 3 )t 3 . The box has a mass of 50.00 kg.
Examine the underlying historical and economic reasons : Examine the underlying historical and economic reasons
Find both forces exerted by both the workers : a worker pushes a 160kg cargo box on a horazontal frictonless surface with a constant force of magnitude. at 6s the box was moving at 1.8km/h. a second worker joins in at that time and supply's ab additional force of mag F2.
Describe the three tools of financial statement analysis : Identify and describe the three tools of financial statement analysis. Perform each of the three types of analysis on Maria Fierro's current assets.
Compute milts recognized gain or loss on the sale : Milt Payner purchased an automobile several years ago for $40,000 and has held it as a personal asset ever since. This year he sold the automobile. Compute Milt's recognized gain or loss on the sale if: a. Milt's amount realized on sale was $28,300. ..
What is the magnitude of the force : You are working the night shift at a warehouse. You want to push a 77.7-kg crate across the floor. The static and kinetic coefficients of friction are 0.6 and 0.55, respectively. Once you got it moving, what is the magnitude of the force you need ..
What is the time required for the pumpkin to hit the ground : You toss a pumpkin up into the air and off the building. You are careful to throw exactly vertically, a few feet from the edge of the building so that the pumpkin will not hit the building on the way back down. What is the time required for the pum..
Which eps figure would you consider relevant to investment : The company reports 2014 earnings per share of $6.50 on income before extraordinary items and $4.75 on net income. Which EPS figure would you consider more relevant to your investment decision? Why?
How rapidly wheel would be spinning if it started from rest : You are working in a research group investigating more energy efficient city busses. One option is to store energy in the rotation of a flywheel when the bus stops and then use it to accelerate the bus. The flywheel under consideration is a light-..

Reviews

Write a Review

Financial Management Questions & Answers

  What are the components of gross national product gnp how

what are the components of gross national product gnp? how does it understate aggregate production in third world

  Use of financial data in strategic decision-making

Assessing the Use of Financial Data in Strategic Decision-Making - Post an explanation of the tools that you believe would help you to reach a decision - Post an explanation of the tools that you believe would help you to reach a decision.

  What is the price of the bond

A bond has a coupon rate of 9.8 percent and 11 years until maturity. If the yield to maturity is 8.2 percent, what is the price of the bond?

  What is the opportunity cost of a checking account

What is the opportunity cost of a checking account that requires a $500 minimum balance to avoid service charges? Assume an interest rate of 4%. If you earn a 9% return on your savings and are in the 28% tax bracket, what is your after-tax savings ra..

  What is return on equity

Keller Cosmetics maintains an operating profit margin of 4.0% and asset turnover ratio of 2.0. The ROA is 8%. If its debt-equity ratio is 1, its interest payments and taxes are each $7,000, and EBIT is $22,000, what is its Return on Equity (ROE)?

  Assuming the interest of the only finance charge

Assuming the interest of the only finance charge, how much interest would be paid on a $5000 investment loan to be repaid in 12 in 36 monthly instalments of $166.10? What is the APR on this loan?

  How are the operating and cash cycles of the firm different

How are the operating and cash cycles of the firm different? Why are they important? What is the deference between management accounting and information accounting?

  What is the expected arithmetic return of a security

What is the expected arithmetic return of a security based on the following historical data?

  New index level be if all stocks on the DJIA increased

Assume that on a particular day, the DJIA opened at 11,960.09. The divisor at that time was .132550914. What would the new index level be if all stocks on the DJIA increased by $1.00 per share on the next day?

  Replace its conveyor belt system

The Easton manufacturing Company is looking to replace its conveyor belt system. A new system will cost $345,000, and will result in cost savings of $220,000 in the first year, followed by savings of $100,000 per year over the following 3 years. If t..

  It usually engages in a long-term contract with these

xyz inc. is a large producer of chicken for grocery stores. it usually engages in a long-term contract with these

  Insurance coverages you will need to bind for the business

Identify ALL insurance coverage’s you will need to bind for the business. Be specific about the details of any aviation related coverage’s. Business grows and soon you find it hard to maintain the increasing pace. You need to hire a part time pilot t..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd