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Sholpan [36]
3 years ago
12

56. Anne LLC purchased computer equipment (5-year property) on August 29 with a basis of $30,000 and used the half-year conventi

on. During the current year, which is the fourth year Anne LLC owned the property, the property was disposed of on January 15. Calculate the maximum depreciation expense: A. $432 B. $1,728 C. $1,874 D. $3,456 E. None of these
Business
1 answer:
klasskru [66]3 years ago
3 0

Answer:

B. $1,728

Explanation:

Data given in the question

Number of computer equipment purchased = $30,000

So, by considering the above information the maximum depreciation expense is

= Number of computer equipment purchased × depreciation rate under MACRS for 5 years property × half year basis

= $30,000 × 11.52% × 0.5

= $1,728      

Refer to the MACRS table to find out the depreciation rate

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Pell is the principal and Astor is the agent in an agency coupled with an interest. In the absence of a contractual provision re
Verdich [7]

Answer: B. Pell: No; Astor: Yes.

Explanation: According to Termination of agency law:

-An agent is entitled to renounce his power by refusing to act or by notifying the principal that he will not act for the principal.

The agent can terminate the agency first in absence of contractual agreement relating to the provision of duration of contract.

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3 years ago
Two students are discussing the use of a trial balance. They wonder whether the following errors, each considered separately, wo
Natali [406]

Answer:

The use of a trial balance:

a) This error will not cause the two sides of the trial balance to disagree. A compensating error has occurred, because the Cash Account should have been credited and the Salaries and Wages Expense debited with $600.

b) This error will cause the two sides of the trial balance to disagree.  The amount debited is not the same amount credited.  The Accounts Receivable should have been credited with $900, not the Service Revenue.

Explanation:

a) The trial balance ensures that the total values of the debit and credit sides agree.  It shows that accounts have been correctly debited and credited in the general ledger, with equal amounts.

b) Compensating errors arise when two accounting errors offset themselves, because the same mistake made on the debit side is made on the credit side

7 0
3 years ago
In companies using a fixed-order quantity model, a consistent inventory level is used as a trigger to order more product. This i
Zielflug [23.3K]

Answer:

Reorder point

Explanation:

A company or organization making use of fixed-order quantity model which is a model where the REORDER POINT has been fixed and has already been set automatic in which once it reach the minimum inventory level it will remind the company that inventory level has reach the limit for the company to restore the stock inventory or order more product, which is why this inventory level is called the REORDER POINT.

Therefore REORDER POINT can be defined as the point which serve as a reminder that the stock inventory level has dropped to the minimum reorder level and need to be replaced or reorder.

5 0
3 years ago
Can someone please explain to me how to do those dashes on word on a PC laptop ASAP? Will give brainliest
kenny6666 [7]

Click where you want to insert a blank underline.


On the Insert tab, in the Tables group, click Table.


Table command on the Insert tab


Click the upper-left box to insert a 1x1 table.


To change the length of the line, move the pointer over the end of the table until it becomes a resize pointer (double-headed arrow) , and then move the arrow right or left to lengthen or shorten the line.


Right-click the table, click Borders and Shading, and then click the Borders tab.


Under Setting, click None.


Under Style, click the line type, color, and width that you want.


In the diagram under Preview, click between the lower margin markers to add the bottom border. Make sure that only the bottom line is displayed.


Under Apply to, click Table, and then click OK.



7 0
3 years ago
Which of the following is true concerning federal budget deficits? I. The IRS spends more than it collects in taxes in a given y
ale4655 [162]

Answer:

II. The Federal Government spends more than it collects in taxes in a given year.

Explanation:

A federal budget deficit is when government spending exceeds income from taxes.

I hope my answer helps you

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3 years ago
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