Double-declining-balance rate:
By straight-line method, annual depreciation expenses = (85,000-5,000)/5 = $16,000
Rate of depreciation = 16000/(85,000-5,000) = 0.2 = 20%
Then, double-declining-balance rate = 2*Straight-line rate = 2*20 = 40%
From 2nd January 2017 to 31st December 2018 can be approximated as 1 year.
Therefore,
Depreciation expense in yr 1 = 40/100 * 85,000 = $34,000
And,
Book value at December 31 2018 = $85,000 - $34,000 = $51,000
It can be seen that the correct answer is b.
<u>Answer: </u>A deduction for a loss incurred on the sale of a capital asset held for investment is a deduction for AGI.
<u>Explanation:</u>
AGI means the Adjusted gross income in the US tax system. Specific deductions are made from the individuals gross income to arrive at the AGI. the income which is taxable is calculated from the adjusted gross income from which personalized exemptions and itemized deductions.
In this case Sara has got a loss of $2,000 on the investment so this amount is deducted as a capital loss for AGI. AGI factors many allowable deductions from the gross income on which the income tax liability is calculated.
<span>Investigators who are interested in studying attitudes and would like to gain a lot of information very quickly are likely to use self report.<span>
It uses survey, questionnaire, or poll to help experimenter to gain knowledge about the participant's feelings, attitudes, beliefs and so on.</span></span>
Answer:
Job M-47 cost assinged $710
Explanation:
the cost is the sum of the three main component
materials
direct labor
manufacturing overhead (MO)
we will calculate each of this for the Job M-47 add them together to get total cost
Job M-47
material 260
15 labor hours
Direct Labor 15 labour hours x 12 labor rate = 180
MO 15 labour hours x 18 overhead rate = 270
Total Cost materials + labor + manufacturing overhead = 710
Answer:
$2,640,000
Explanation:
Given the above information,
Creditor's claim is computer as
= Assets - Common stock - retained earnings
Given that
Assets = $4,345,000
Common stock = $1,076,000
Retained earnings = $629,000
Creditor's claim on their asset = $4,345,000 - $1,076,000 - $629,000
= $2,640,000
