During the current year, Han and Leia sold the following assets: AssetMarket ValueTax BasisHolding Period Chewbacca stock52,00038,000> 1 year C-3PO stock21,00039,000> 1 year Qui-gon stock42,00032,000< 1 year Death Star stock16,00039,000< 1 year Antique light saber collection15,00033,000> 1 year Apartment complex*328,000148,000> 1 year *$100,000 of the gain is 25 percent gain (Section 1250 recapture). Han and Leia have other income of $135,000 in wages and $5,600 of qualifying dividends before considering the tax effect of their asset sales. What is their tax liability for 2020 assuming they file a joint return

Xyz corporation has provided the following data concerning manufacturing overhead for july: actual manufacturing overhead incurred $ 69,000 manufacturing overhead applied to work in process $ 79,000 the company's cost of goods sold was $243,000 prior to closing out its manufacturing overhead account. the company closes out its manufacturing overhead account to cost of goods sold. which of the following statements is true? multiple choice manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000

Royal motor corp. generates a major portion of its revenues by manufacturing luxury sports cars. however, the company also derives an insignificant percent of its annual revenues by selling its sports merchandise that includes apparel, shoes, and other accessories under the same brand name. which of the following terms best describes royal motor corp.? a. aconglomerate b. a subsidiary c. adominant-businessfirm d. a single-business firm

The largest elements of community corrections are