In 1995 Miguel purchased a home for $130,000. In 2000 he sold it for $170,000 and immediately
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (21 reviews)
It is assumed that the capital gain is equal to the difference between the sale price of the hom...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Personal Finance An Integrated Planning Approach
ISBN: 978-0136063032
8th edition
Authors: Ralph R Frasca
Question Posted:
Students also viewed these Accounting questions
-
A few years ago, Misha Azim purchased a home for $100,000. Today, the home is worth $150,000. His remaining mortgage balance is $50,000. Assuming that Misha can borrow up to 80 percent of the market...
-
A few years ago, Michael Tucker purchased a home for $100,000. Today, the home is worth $150,000. His remaining mortgage balance is $50,000. Assuming Michael can borrow up to 80 percent of the market...
-
In 2006 Juan and Maria purchased a home for $250,000. They were offered a 30-year loan by a mortgage broker for no money down, interest-only for the first three years at 3%, then automatically...
-
Bally Manufacturing sent Intel Corporation an invoice for machinery with a $13,500 list price. Bally dated the invoice August 5 with 3/10 EOM terms. Intel receives a 20% trade discount. Intel pays...
-
Serges graduated commission scale pays him 3% on his first $30,000 in sales, 4% on the next $20,000, and 6% on all additional sales in a month. What is his average commission rate on sales for a...
-
At your companys monthly marketing strategy meeting, vation and customer service. The article argued that these the director of customer satisfaction happily reports that commitments are paying off...
-
9. Consider a firm with an F rating. a. What is the probability that after 4 years it will still have an F rating? b. What is the probability that after 4 years it will have an FF or FFF rating? c....
-
A fire recently destroyed a substantial portion of Manley Companys production capacity. It will be many months before capacity can be restored. During this period, demand for the firms products will...
-
2 part question, thanks! Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line Inc. (BLI). As part of their discussions with the sole shareholder of the...
-
Many institutions have fixed future liabilities to meet (such as pension payments) and they fund these future liabilities using default-free fixed income securities. When discount bonds of all...
-
Steve has a 28 percent marginal tax rate. What is it worth to him to have the following? a. An additional itemized deduction of $100 b. An additional $100 invested in a tax-deductible IRA c. An...
-
Identify, explain, or elaborate upon the following items: a. Functions of the IRS b. Automatic extension of time for filing c. Statutes of limitations d. Assistance in tax-return preparation e....
-
1. From a utilitarian point of view, who do you think should be in the priority group? From a justice as fairness perspective, who should be in the priority group? 2. Should people who make society...
-
Use the Comprehensive Annual Financial Report for the Village of Arlington Heights (please look up this content) for the year ended December 31, 2018, to answer questions 8-20. All questions are on...
-
The pulse rates of 152 randomly selected adult males vary from a low of 37 bpm to a high of 117 bpm. Find the minimum sample size required to estimate the mean pulse rate of adult males. Assume that...
-
Two wires lie perpendicular to the plane of the screen and carry equal magnitudes of electric current in the directions shown. Point P is equidistant from the two wires. The distance between each of...
-
Your firm has recently been appointed as auditors of Kentronics Ltd , a large company which markets sophisticated electronic equipment for heavy industry as well as the mining equipment industry. The...
-
The pulse rates of 152 randomly selected adult males vary from a low of 37 bpm to a high of 117 bpm. Find the minimum sample size required to estimate the mean pulse rate of adult males. Assume that...
-
Figure 12.2 lists two challenges to electronic markets: (a) increased transaction risks and uncertainties, and (b) lack of power to enforce the change. Think of some others. In the case of electronic...
-
Test whether the 5-year survival rate for breast cancer is significantly different between African American and Caucasian women who are younger than 50 years of age and have localized disease....
-
What are some examples of the greater level of responsibility that the SOX legislation imposes on senior executives?
-
Jims expects sales to grow by 10% next year. Using the percent of sales method, forecast (see MyFinanceLab for the data in Excel format): a. Costs b. Depreciation c. Net income d. Cash e. Accounts...
-
Assume that Jims pays out 90% of its net income. Use the percent of sales method to forecast (see MyFinanceLab for the data in Excel format): a. Stockholders equity b. Accounts payable
-
What is the amount of net new financing needed for Jims (see MyFinanceLab for the data in Excel format)?
-
Ted and his partners have contracted to purchase the franchise nights worth 561 000 to open and operate a specialty pizza restaurant called Popper with a renewable agrement, the partners have agreed...
-
Your answer is partially correct. Martin Company's chief financial officer feels that it is important to have data for the entire quarter especially since their financial forecasts indicate some...
-
Kellog Corporation is considering a capital budgeting project that would have a useful life of 4 years and would love testing 5156.000 in equipment that would have zeto salvage value at the end of...
Study smarter with the SolutionInn App