During 2021 an individual sold various personal items as follows: furniture $8,000; jewellery $10,000; automobile...
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Accounting
During 2021 an individual sold various personal items as follows: furniture $8,000; jewellery $10,000; automobile $29,000; gold coins $9,000. The cost base of these items is as follows: furniture $11,300; jewellery $12,400; automobile $25,500; gold coins $7,800.
What is the tax effect of these sales transactions?
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