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scoray [572]
3 years ago
6

On June 1, 2018, Cork Oak Corporation purchased a passenger automobile for 100 percent use in its business. The auto, with a cos

t basis of $22,000, has a 5-year recovery period.. How much depreciation should be taken for 2018, assuming Cork Oak Corporation uses the accelerated depreciation method under MACRS but does not choose to make the election to expense or take bonus depreciation?
Business
1 answer:
lubasha [3.4K]3 years ago
5 0

Answer:

=$ 4400

Explanation:

Under the Macrs depreciation schedule, motor vehicles as assets have a useful life of 5 years. In the first year, the deprecation rate id 20%, followed by 32% in the second year.

For cork oak corporation: the value of the motor vehicle is 22,000

Date of purchase 2018, years in depreciation: 1

Depreciation: = 20/100 x 22 000

  =$ 4400

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c. the trade balance and the exchange rate.

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An Open Economy is an economy that allows the free inflow and outflow of goods, services, capital and people. The opposite of a closed economy.

What sets these two models apart is that in an open economy, both imports and exports are allowed, so that countries necessarily have to trade in more than one currency, so the exchange rate must be examined. In addition, business transactions are recorded in a balance of payments. So these are the two concepts that are not tried in a closed economy analysis, but are introduced in an open economy.

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Sacrificing your own self interests for the good of the overall goal is ______.
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Hair Zone manufactures a brand of hair styling gel. It is considering adding a modified version of the product-a foam that provi
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Answer:

Should Hair Zone add the new product to its line? Why or why not?

  • Yes they should, since it would increase their total net income by $210,000.

Explanation:

                                       Current hair gel         New foam product

Unit selling price                  $2.00                          $2.25

Unit variable costs               $0.85                           $1.25

expected sales for new foam product 1,000,000 units, but 600,000 units would replace sales from current hair gel

expected sales for current hair gel if new foam is introduced 900,000 units (1,500,000 if no new product is introduced)

                                         Alternative 1        Alternative 2        Differential

                                         no new foam       new foam             income

total sales revenue          $3,000,000        $4,050,000         $1,050,000

total variable costs          ($1,275,000)        ($2,015,000)        ($740,000)

additional fixed costs                      $0           ($100,000)        ($100,000)

total                                   $1,725,000         $1,935,000           $210,000

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