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When an asset is sold a gain occurs when the?
Gain on sale of asset is occured when actual value of asset is less then the sale value of asset.
What is Net Long-term Capital Gains?
If your gross sales price is more than your adjusted cost basis of the capital asset you would have a gain on the sale of a capital asset. If you owned the asset for more than one year and it is sold at a gain then you would have LTCG. (long term capital gain)
When is a gain on disposal of an asset recorded?
A gain is recorded when the asset is sold for a price greater than the assets book value.
Which item is deducted from inventory as it is sold or dispensed?
Point of sale system (POS system)
What is the difference between cost of sale and cost of goods available for sale?
Cost of Goods Available for Sale represents the physical cost of inventory on your books that is waiting to be sold, while Cost of Goods Sold represents the income statement expense for inventory once it is old. Due to the Matching Principle in Financial accounting, the cost of the inventory does not get expensed on the income statement until the goods are actually sold.
When an asset is sold a gain occurs when the?
Gain on sale of asset is occured when actual value of asset is less then the sale value of asset.
Where is Justin Bieber playing?
04.24.13Stockholm, SEGlobePre-Sale Sold Out5304.26.13Helsinki, FinlandHartwall ArenaPre-Sale Sold Out12804.28.13St Petersburg, RussiaJCCPre-Sale Sold Out1304.30.13Moscow, RussiaOlympiisky ArenaPre-Sale Sold Out1305.02.13IstanbulITU StadyumuBuy Tickets1805.04.13Dubai, UAEDubai Sevens StadiumPre-Sale Sold Out3805.08.13Cape Town, South AfricaCape Town StadiumPre-Sale Sold Out2105.12.13Johannesburg, South AfricaFNB StadiumPre-Sale Sold Out2406.22.13San Diego, CAValley View Casino CenterPre-Sale Sold Out5506.24.13Los Angeles, CAStaples CenterPre-Sale Sold Out5206.25.13Los Angeles, CAStaples CenterPre-Sale Sold Out6206.26.13San Jose, CAHP Pavilion at San JosePre-Sale Sold Out6906.28.13Las Vegas, NVMGM GrandPre-Sale Sold Out4506.30.13Denver, COPepsi CenterPre-Sale Sold Out3707.02.13Oklahoma City, OKChesapeake Energy ArenaPre-Sale Sold Out2807.03.13Dallas, TXAmerican Airlines CenterPre-Sale Sold Out6207.06.13Omaha, NECenturyLink CenterPre-Sale Sold Out6207.07.13Des Moines, IAWells Fargo ArenaPre-Sale Sold Out4707.09.13Chicago, ILUnited CenterPre-Sale Sold Out8707.10.13Indianapolis, INBankers FieldhousePre-Sale Sold Out7507.12.13Columbus, OHNationwide ArenaPre-Sale Sold Out7707.13.13Cleveland, OHQuickers Loan ArenaPre-Sale Sold Out9407.15.13Buffalo, NYFirst Niagara CenterPre-Sale Sold Out8907.17.13Philadelphia, PAWells Fargo CenterPre-Sale Sold Out7607.18.13Hartford, CTXL CenterPre-Sale Sold Out8207.20.13Boston, MATD Bank GardenPre-Sale Sold Out8207.23.13Kanata, ONScotiabank PlacePre-Sale Sold Out10007.25.13Toronto, ONAir Canada CentrePre-Sale Sold Out12107.26.13Toronto, ONAir Canada CentrePre-Sale Sold Out12007.28.13Detroit, MIJoe Louis ArenaPre-Sale Sold Out12107.30.13Newark, NJPrudential CenterPre-Sale Sold Out6907.31.13Newark, NJPrudential CenterPre-Sale Sold Out7508.02.13Brooklyn, NYBarclay's CenterPre-Sale Sold Out8608.03.13Washington, DCVerizon CenterPre-Sale Sold Out6408.05.13Columbia, SCColonial Life ArenaPre-Sale Sold Out3508.07.13Jacksonville, FLJacksonville Veterans Memorial ColiseumPre-Sale Sold Out3308.08.13Tampa, FLTampa Bay Times ForumPre-Sale Sold Out5408.10.13Atlanta, GAPhilips ArenaPre-Sale Sold Out56
Land costing $138,463 was sold for $175,514 cash. The gain on the sale was reported on the income statement as other income. On the statement of clash flows, what amount should be reported as an investing activity from the sale of land?
37,051
How long should an item be on sale be for it can be sold at a sale price?
You don't have to have an item on sale for any length of time before it can be sold at a sale price. It can go immediately on sale.
When a sheriff sale occurs what does sold for coststaxes to plaintiff mean?
"Sold for costs/taxes to plaintiff" means that the property was sold at a sheriff sale to cover outstanding costs and taxes owed by the previous owner, and any remaining proceeds will go to the plaintiff who initiated the legal action. This language typically indicates that the sale proceeds will first satisfy the costs and taxes before any other claims are settled.
How do you get out of a second mortgage when the house has been sold on a short sale?
How do you get out of a second mortgage when the house has been sold on a short sale?
What should you do with money from the sale of a house so that it doesn't become taxable income?
It really doesn't matter so much what you do with the proceeds from a sale of a home to make sure it isn't taxable. Of course, you can always purchase another home if you don't already have another home as your residence. Purchasing another home if the one sold was rental property will not help, as you will still pay taxes on any gain from the sale. If it is your residence that you sold and had a gain from, you have an exclusion of gain of principal residence that you can use. If you are married and file a joint return, you can exclude up to $500,000 of sales gain of your residence. Individuals who file single can exclude up to $250,000 of gain. There are a few requirements that you must meet and it must be reported on your tax return but the exclusion, if used will eliminate income tax on the gain.
Where will it be sold?
Items can be sold in stores, at a yard sale, online, and from a car.
What does it mean second sale?
Answer Second sale is when a properity has already been sold once, and is now being sold for the second time.
Do you pay federal income tax on inherited land sold?
Yes it possible would have to pay some federal income tax on any gain from the sale of this land. This will depend on how long you have held the land after it was inherited and your adjusted cost basis of the land when it is sold and the use of the land before it was sold.
What is Net Long-term Capital Gains?
If your gross sales price is more than your adjusted cost basis of the capital asset you would have a gain on the sale of a capital asset. If you owned the asset for more than one year and it is sold at a gain then you would have LTCG. (long term capital gain)
If the land of mine is sold by another person to some one else?
If someone else "sold" the land, then either it was no longer your land (was taken from you legally and then sold), or you are incompetent (has been sold on your behalf), or the sale may be completely void (forged your signature or whatever). This occurs from time to time and you need to have an attorney find out the reason for it and explain it to you, to see if you can get it back.
