Alan bought a chargeable asset for 2,000 in April 1978. The asset was sold for 29,500 in
Question:
Alan bought a chargeable asset for £2,000 in April 1978. The asset was sold for £29,500 in January 2021. Compute the chargeable gain arising on this disposal if the asset's market value on 31 March 1982 was:
(a) £14,200
(b) £500
(c) £32,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
a The original cost of this asset is irrelevant and the gain or loss is c...View the full answer
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Alan bought a chargeable asset for 2,000 in April 1978 . The asset was sold for 29,500 in Janua ry 2018 . Compute the chargeable gain arising on this disposal if the asset's market value on 31 March...
-
Calculate the chargeable gain arising on the disposal described in the above example. RPIs are 79.44 for March 1982 and 278.1 for December 2017. Data from Above example. A company acquired a...
-
A company acquired a chargeable asset for 2,000 in April 1980 and sold the asset for 22,500 in September 2017. Compute the unindexed gain arising on this disposal if the market value of the asset at...
-
Draw structures for the following molecules (a) Acrylonitrile, C3H3N, which contains a carbon-carbon double bond and a carbon-nitrogen triple bond (b) Ethyl methyl ether, C3H8O, which contains an...
-
Ginja, a U.S. citizen, leaves the U.S. at 5:00 PM on July 31, 2016 and arrives in Portugal at 11:00 AM the next day. Right away, she establishes a permanent residence in Portugal and maintains that...
-
Imagine a system that consists of only a single positively charged object. Is it possible to have in this system a closed surface that has a negative field line flux through it? (The charged object...
-
Crawford & Co. uses sales and purchases journals in its accounting system. The following transactions took place during April (ignore GST): Required (a) Establish all necessary general ledger...
-
Use Pareto analysis to investigate the following data collected on a printed-circuit-board assembly line: Number of Defect Defect Occurrences Components not adhering............ 143...
-
16. A uniform solid right circular cone of base radius R is joined to a uniform solid hemisphere of radius R and of the same density, so as to have a common face. The centre of mass of the composite...
-
Hilary bought a chargeable asset in November 1978 for 3,000. The asset had a market value on 31 March 1982 of 5,000. She sold part of the asset for 8,000 in November 2020, at which time the remainder...
-
In September 2014, Gloria acquired 1,000 ordinary shares in a listed company for 7,000. Trading in the shares was suspended in December 2020 and Gloria claimed that the shares then had a negligible...
-
In Exercises 110, find the slope of the line passing through each pair of points or state that the slope is undefined. Then indicate whether the line through the points rises, falls, is horizontal,...
-
If the annual interest is 6%, What is the future value of an annuity due which pays $700 every year for the next six years? Solve using a financial calculator. Show steps.
-
A 1-year European put option on a stock with strike price of $50 is quoted as $7; a 1-year European call option on the same stock with strike price $30 is quoted as $5. Suppose you long one put and...
-
Suppose that the demand function is estimated to be Q = 14 -0.6P. What would be the arc elasticity of demand for the impact of a change in price from $10 to $15?
-
Focus on the key drivers of price to earnings, earnings per share, dividend per share, cash flow per share, and annual growth rates for Adidas. This information will continue to assist you as you...
-
Marshall Company is a large manufacturer of office furniture. The company has recently adopted lean accounting and has identified two value streams-office chairs and office tables. Total sales in the...
-
What is the basis of her claim of duress?
-
Several months have passed and the Managing Partner approved and properly filed the Complaint and properly submitted the Request for Production of Documents that you drafted. In fact, it has been 75...
-
Joanne started a business on 1 May 2016, preparing accounts to 31 December each year. Her first accounts were for the period to 31 December 2016 . During this period and during the year to 31...
-
Laura started a business on 1 May 2016, preparing accounts to 30 April . Her adjusted trading profit for the year to 30 April 2017 (before deduction of capital allow ances) was 263,150. Her purchases...
-
Lee begins trading on 1 January 2017 preparing accounts to 31 December each year. His adjusted trading profit for the year to 31 December 2017 (before capital allowances) is 21,000 and capital...
-
You are given the following information on two traded bonds making annual payments. File Preview Face Value Coupon Maturity Price Bond A Zero Coupon Bond B Coupon Bond $100 $100 0% 1 year $90 10% 2...
-
Using 13CO2 and H2180 as your only source of 13C and 180, respectively, devise a reasonable synthesis of the following isotopically-labeled ester below. You may use any other reagent necessary. CH3...
-
1 200 0 3 2-2 Let A Evaluate det(A) by a cofactor expansion along a row 1 -3 0-1 4 5 3 1 or column of your choice..
Study smarter with the SolutionInn App