Answer:
c. $7,500 ordinary gain
Explanation:
Depreciated value of Machine = $55,000 - $12,500
= $ 42,500
Sale price of Machine = $ 50,000
Gain on sale of Asset = $ 50,000 - $ 42,500
= $ 7,500
Therefore, The amount and character of Butte's gain or loss is $7,500 ordinary gain.
Answer:
$65,000
Explanation:
Calculation to determine how much income does Joe Harry report if Joe's S Corporation, earned Using the specific identification allocation method
Using this formula
Income=Amount earned*Interest rate
Let plug in the formula
Income=$260,000 × 25%
Income= $65,000
Therefore Using the specific identification allocation method how much income does Joe Harry report if Joe's S Corporation, earned will be $65,000
Answer:
$1799280
Explanation:
EXISTING WORKFORCE = COMPLEMENT = 392 (SEE SECOND ROW, FOURTH COLUMN)
COMPANY WANT TO REDUCE THE SIZE BY 10%
SO NEW WORKFORCE = 392 -10% = 392-39.2 =352.8
SO TOTAL SEPARATION COST = NEW WORKFORCE X COST PER EMPLOYEE
TOTAL SEPARATION COST = 352.8 x (100 + 5000) =$1799280
<span>a casual operation where few records are kept of income, expenses, stock and other items. </span>
