"The economy is doing well when the level of real GDP<br> is at Potential GDP"<br> True<br> O False

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ehidna [41]

Huh ??? This ain’t zoo

6 0

3 years ago

Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. This year Betty had the

nikitadnepr [17]

Answer:

Betty's AGI $33,558

Explanation:

Betty's AGI:

Revenue from salon $88,560

Salaries paid to beauticians ($46,440)

Nail salon supplies ($23,620)

Salon's operating income $18,500

+

Interest income $14,665

+

Rental revenue from apartment building $35,180

Depreciation on apartment building ($14,400)

Real estate taxes paid on apartment building ($11,980)

Rental income $8,800

-

Alimony paid to her husband $7,100

-

Self-employment tax on salon income $1,307

=

Betty's AGI $33,558

Real estate taxes paid on Betty's house and charitable contributions are itemized deductions (below the line deductions).

6 0

2 years ago

On January 1, 2021, the Excel Delivery Company purchased a delivery van for $46,000. At the end of its five-year service life, i

marusya05 [52]

Answer:

Given

Cost $46000

Life= 5 years

Salvage Value= $ 4000

Total miles = 165,000

Formula

Depreciation Straight Line Method= Cost - Salvage Value/ Useful Life

Straight Line Rate= 100%/ useful Life= 100%/5 = 20%

Double Declining Method = 2 * Straight Line Rate

Double Declining Method = 2 * Straight Line Rate= 2*20%= 40%

1. Depreciation Straight Line Method= Cost - Salvage Value/ Useful Life

Depreciation Straight Line Method= $ 46000- $4000/ 5= $ 8,400

The depreciation expense using the straight line method does not change unless the salvage value is reached

Years Depreciation Accumulated Dep Book Value

(Cost - Accu. Dep)

a. 2021 $ 8,4000 8400 37600

b. 2022 $ 8,4000 16,800 29,200

c. 2023 $ 8,4000 25200 20,800

d. 2024 $ 8,4000 33,600 12,400

e. 2025 $ 8,4000 42000 4000

2. Straight Line Rate= 100%/ useful Life= 100%/5 = 20%

Double Declining Method = 2 * Straight Line Rate

Double Declining Method = 2 * Straight Line Rate= 2*20%= 40%

In double declining method the rate is multiplied to the cost to get the depreciation expense. 40 % of $ 46000= $ 18400

Each year the rate is multiplied with the remaining book value after deducting the depreciation expense from the cost as $ 46000- $ 18400= $ 27600

Next years depreciation will be $ 27600 * 40%= $ 11040.

This will be added in the original depreciation expense $ 18400 + $ 11040 = $ 29440 and deducted from cost to get the book value. $ 46,000- $ 29440 = $ 16560.

Again rate will be multiplied and each years depreciation will be calculated similarly.

It has been summarized in the table below.

Years Dep Rate Dep Expense Accu. Dep. Book Value

a. 2021 40% 18400 18400 27600

b. 2022 40% 11040 29440 16560

c. 2023 40% 6624 36064 9936

d. 2024 40% 3974.4 40,038.4 5961.6

e. 2025 40% 2384.64 42,0423.4 3576.96

3. Depreciation per unit= (Cost -Salvage value) / Total units of production* Units of Production

Years Mileage Depreciation Depreciation

a. 2021 35,000 ($ 42000/165000)*35000 8909.09

b. 2022 37,000 ($ 42000/165000)*37000 9418.18

c. 2023 28,000 ($ 42000/165000)*28000 7127.27

d. 2024 33,000 ($ 42000/165000)*33000 8400

e. 2025 34,000 ($ 42000/165000)*34000 8654.54

7 0

3 years ago

Last year, 46% of business owners gave a holiday gift to their employees. A

Liono4ka [1.6K]

Answer:

a. 15

b. Since is a left tailed test the p value would be:

p_v =P(Z<-3.263)= 0.000551

Explanation:

a. 25% of 60 businesses surveyed=

25/100 x 60= 15

b. See attached image for solution

7 0

3 years ago

Managers at Eller Manufacturing are considering purchasing a new refrigerated delivery truck that Adaptive Practice Managerial,

juin [17]

Answer:

C) 10%

Explanation:

($144,000 + $12,780)/$36,000 = 4.355

6 0

3 years ago

"The economy is doing well when the level of real GDP is at Potential GDP" True O False