Everest Inc. reports taxable income of $900,000 before considering sales of stock. Everest Inc. sold two stockholdings this year, resulting in a long-term capital gain of $15,000 on stock A and a short-term capital loss of $5,000 on stock B. What is the extra tax that Everest will pay due to the sales of these stocks?
A. $2,000
B. $1,500
C. $2,100
D. $3,150
Answer: C
You might also like to view...
Optical scanning involves direct machine reading of the codes and simultaneous transcription
Indicate whether the statement is true or false
Since less than ten percent of smartphone owners use their phones for shopping-related activities, mobile marketing is a slow growing digital marketing platform
Indicate whether the statement is true or false
On January 1, Year 1 a company borrowed $70,000 cash by signing a 9% installment note that is to be repaid with 4 annual year-end payments of $21,607, the first of which is due on December 31, Year 1.(a) Prepare the company's journal entry to record the note's issuance.(b) Prepare the journal entries to record the first and second installment payments.
What will be an ideal response?
With regard to adjectives, the comparative degree compares three or more persons or things
Indicate whether the statement is true or false