could you explain some more please
The step in retirement planning that Janice is completing is "Developing a balanced budget based on her retirement income"
She is making a checklist of her expenses and income and what is the excess income she can keep for her interests. So, she is actually involved in making a budget for her retirement based on her income and anticipated expenses
Based on the information given the amount of the transfer taxes is $476.
Using this formula
Total transfer tax=[(Purchased price+ First transfer tax)×(Additional tax)]+Transfer tax
Let plug in the formula
Total transfer tax=[($475,000-$1,000)×($0.10/$100)]+$2
Total transfer tax = ([$474,000 x .001] + $2)
Total transfer tax=$474+$2
Total transfer tax=$476
Inconclusion the amount of the transfer taxes is $476.
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Answer:
The gain/loss on the sale of the 15,000 shares is $20,000
Explanation:
The value of the investment as at the end of 2018 using the equity method is computed thus:
Note that 30% of 100,000 shares=30,000 shares
ending value =initial investment+share of profit-share of dividends
ending value =$1,500,000+($300,000*30%)-($100,000*30%)
ending value=$1560000
gain/(loss)=$800,000-($1560000
*15000/30000)
gain/(loss)=$20,000
