Answer:
b. False
Explanation:
The tax payer has incorrectly deducted depreciation expense from his income which resulted in a lower tax being paid. Deductions reduce the tax and lesser income is taxed if deductions are incorrectly classified. The income taxed in this case will be from a lower tax bracket due to wrong deduction of depreciation expense of $5,000 and taxable income was reduced by $5,000 in 2019.
Answer:
$105,547
Explanation:
Original cost of machine = $270,000
Machine sold for = $150,000
Book value = $120,000
Down payment = $30,000
$60,000 payable on December 31 each of the next two years
.
Present value of an ordinary annuity of 1 at 9% for 2 years = 1.75911
The amount of the notes receivable net of the unamortized discount:
= Amount paid on December 31st × Present value of an ordinary annuity
= $60,000 × 1.75911
= $105,547
Answer:
<em>The answer is $700,000</em>
Explanation:
<em>From the example given, we find the tax basis will each take in their respective BSJ stock</em>
<em>Contributions done partner wise (All values in $)</em>
<em>Partner Contribution Tax Share in Stock % of Tax Base Tax base in stock</em>
<em>Name Base</em>
<em>Brad 450000 100000 45% 17% 120689.7</em>
<em>Scott 100000 350000 45% 60% 422413.8</em>
<em>Jake 150000 130000 10% 22% 156896.6</em>
<em> 700000 580000 100% 700000</em>
<em>Therefore, The Total Assets contributed will be equivalent to stock of BSJ issued = $ 700,000</em>
According to the VRIO framework, to fully exploit the competitive potential of its resources, capabilities, and competencies, a firm must be organized to capture value.
A resource is useful if it enables a company to take advantage of an outside opportunity or counteract an outside threat.
The VRIO framework is an internal examination that aids companies in discovering the benefits and assets that offer them a competitive edge. The acronym for the many success metrics that apply to your organization is the VRIO framework. Value, rarity, copyability, and organization are all included.
Learn more about VRIO framework at brainly.com/question/26286846
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Answer:
The Journal entry with their narrations shown below:-
Explanation:
The Journal Entry is shown below:-
1. Petty cash Dr, $271
To Cash $271
(Being establishment of petty cash fund is recorded)
2. Freight-in Expenses(delivery charges) Dr, $76
Supplies expenses Dr, $41
Postage expenses Dr, $49
Loan to employees (Accounts receivable) Dr, $33
Miscellaneous expenses Dr, $52
Cash short and over Dr, $8
To Cash $259
($271 - $12)
(Being disbursement of cash is recorded)
3. Petty cash Dr, $116
To cash $116
(Being increase in petty cash is recorded)
