[The following information applies to the questions displayed below.] During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and tax rate schedules.)
Capital Asset Market Value Tax Basis Holding Period
L stock $ 50,800 $ 41,400 > 1 year
M stock 28,800 39,400 > 1 year
N stock 30,800 22,400 < 1 year
O stock 26,800 33,400 < 1 year
Antiques 7,800 4,400 > 1 year
Rental home 300,800* 90,400 > 1 year
*$30,000 of the gain is 25 percent gain (from accumulated depreciation on the property).
Ignore the Net Investment Income Tax.
Given that Ron and Anne have taxable income of only $20,800 (all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2020 assuming they file a joint return

Scenario: you have advised the owner of bond's gym that the best thing to do would be to raise the price of a monthly membership. the owner wants to know what may happen once this price increase goes into effect. what will most likely occur after the price of a monthly membership increases? check all that apply. current members will pay more per month. the quantity demanded for memberships will decrease. the number of available memberships will increase. the owner will make more money. bond's gym will receive more membership applications.

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.

Your father's employer was just acquired, and he was given a severance payment of $375,000, which he invested at a 7.5% annual rate. he now plans to retire, and he wants to withdraw $35,000 at the end of each year, starting at the end of this year. how many years will it take to exhaust his funds, i.e., run the account down to zero? a. 22.50 b. 23.63 c. 24.81 d. 26.05 e. 27.35