Subject: Business    / Accounting

Your client brings you the following information for the past 3 years:

Short-term capital gain

Short-term capital loss

Long-term capital gain

Long-term capital loss

Year 1

1000

1500

700

4000

Year 2

1000

900

100

3300

Year 3

900

200

100

1000

Using Excel, calculate the amount and type of capital gain or loss for each year, identifying any carryover.

Question 2:

Samson Corporation sold the following during the year:

Two delivery trucks purchased in March 2016 for $78,000 are sold in June for $70,000
Land used for storage for 5 years sold for $400,000 that had a basis of $80,000
Machines with a basis of $200,000 are sold for $75,000 to obtain newer models.
A building purchased 8 years ago for $350,000 is sold for $425,000 with an adjusted basis of $300,000 due to depreciation.

What is the character and amount of gain or loss recognized? Put your response in Excel.

Question 3:

Samantha sold the following assets during 2016:

Her home, which she had lived in for 10 years, for a gain of $75,000
Stock in BASS purchased in 2014 for $10,000 was sold for $16,000.
Stock in TREBLE purchased on January 23, 2016 for $4,000 was sold on October 15, 2016 for $4,500.
A collectible motorcycle sold on August 19 for $17,000. She had purchased it for $15,000 in December of 2013.

Determine the character and amount of Samantha’s gains and losses.
How would your answer change if Samantha had initially purchased her home as a vacation home but has used it as her principle residence for the last 4 years? Put your answers in Excel.

Question 4:

Determine the amount realized and the character by Solar Corporation on the sale of the following equipment:

PV1 purchased in 2012 for $10,000 and sold for $8,000. PV1 has an adjusted basis of $5,000.

PV2 purchased in 2013 for $25,000 and sold for $16,000. PV2 has an adjusted basis of $18,000.

Assume Solar Corporation had ordinary income of $35,000 from all other sources and no other asset sales or transactions. How does the sale of PV1 and PV2 affect ordinary income? Put your answers in Excel.

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Sociology 101 Assignment 4 Sociology emerged as the study of all aspects of human existence, where people lived, the nature of their work, how they viewed life, and interpersonal relationships. As sociologists, we are not in the business of evaluating, diagnosis, or critique of individual’s actions but rather observing behaviors and wondering what drove them to that type of behavior or how society draws it˜s lines of what is acceptable and what is beyond the line. So review the obituary and Please answer the following question: After reading the Sebastian Horsley obituary, why would I include it in a sociology class? This should be a 1 or 2 page double spaced typed in Microsoft word (.doc or .docx) or a plain text (.txt) document. This assignment is due Sunday at midnight ET of Week 5. Use the Submit Answer button below to upload your completed homework assignment prior to the due date. Learning Objectives Satisfactory Unsatisfactory Points Concept mastery Students will demonstrate an understanding of the concepts presented in Chapter 8 of the text Students will not demonstrate an understanding of the concepts presented in Chapter 8 of the text 1-30 points Application of sociological concepts presented in chapter 8 Students will apply sociological concepts presented in chapter 8 in explaining the sociological perspective of including this reading Students will not apply sociological concepts presented in chapter 8 in explaining the sociological perspective of including this reading 1-30 points Conclusion Students will present a well thought out conclusion presenting their ideas with support from the concepts presented in the text. Students will not present a well thought out conclusion presenting their ideas with support from the concepts presented in the text. 1-30 points Presentation Student will present a well written paper with attention to spelling, grammar, punctuation and overall presentation Student will not present a well written paper with attention to spelling, grammar, punctuation and overall presentation 1-10 points TO ORDER FOR THIS QUESTION OR A SIMILAR ONE, CLICK THE ORDER NOW BUTTON AND ON THE ORDER FORM, FILL ALL THE REQUIRED DETAILS THEN TRACE THE DISCOUNT CODE, TYPE IT ON THE DISCOUNT BOX AND CLICK ON ˜USE CODE’ TO EFFECT YOUR DISCOUNT. THANK YOU

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