Murrow Corporation generated $285,700 income from the performance of services for its clients. Murrow also sold several operating assets during the year. Compute Murrow's taxable income under each of the following assumptions about the tax consequences of the asset sales. a. Murrow recognized $6,800 recaptured ordinary income, a $23,200 net Section 1231 gain, and an $11,600 net capital loss. b. Murrow recognized a $47,300 net Section 1231 loss and a $5,075 net capital loss. c. Murrow recognized a $61,800 net Section 1231 gain and a $4,210 net capital gain. d. Murrow recognized a $15,300 net Section 1231 loss and a $3,000 net capital gain.
What will be an ideal response?
a. Murrow's taxable income is $304,100 ($285,700 service income + $6,800 recaptured ordinary income + $23,200 Section 1231 gain ? $11,600 capital loss [fully deductible against Section 1231 gain]).
b. Murrow's taxable income is $238,400 ($285,700 service income ? $47,300 Section 1231 loss). The capital loss is nondeductible.
c. Murrow's taxable income is $351,710 ($285,700 service income + $61,800 Section 1231 gain + $4,210 capital gain).
d. Murrow's taxable income is $273,400 ($285,700 service income ? $15,300 Section 1231 loss + $3,000 capital gain).
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A. knowledge worker. B. blue-collar worker. C. self-managed worker. D. first-line worker. E. first-line manager.
When an investor uses the equity method to account for investments in common stock, the investment account will be increased when the investor recognizes
a. a proportionate share of the net income of the investee. b. a cash dividend received from the investee. c. periodic amortization of an intangible arising from contractual rights acquired in the purchase. d. depreciation related to the excess of market value over book value of the investee's depreciable assets at the date of purchase by the investor.
____________ is the ratio of the mean number of customers in queue over the mean arrival rate.
What will be an ideal response?
Please send your application ____ our human resources manager
A) to B) too C) two