1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rzqust [24]
3 years ago
11

Patrick purchased a used passenger automobile on June 1, 2018. He paid $19,000 for the automobile. During 2018, he uses the auto

mobile 75 percent of the time for business. Patrick wishes to claim the maximum amount of depreciation possible (no bonus depreciation or election to expense).a.Calculate Patrick's depreciation expense on the automobile for 2018.
b.Calculate Patrick's depreciation expense on the automobile for 2019, assuming the same 75 percent business use.
Business
1 answer:
kkurt [141]3 years ago
8 0

Solution:

a. The first year depreciation = $3,160

The second year depreciation = $5,100

b. By considering 75% used for business purchase

    For 2018 , for 7 months remaining

   Depreciation = $3,160 x 75% ( \frac{7}{12}

                         = $1382.50

  For 2019 ,

   Depreciation = $5,100 x 75% = $3,825

You might be interested in
One of two methods must be used to produce expansion anchors. Method A costs $80,000 initially and will have a $15,000 salvage v
kaheart [24]

Answer:

Method b

Explanation:

Present worth can be calculated using a financial calculator

For method A ,

Cash flow in year 0 = $80,000

Cash flow in year 1 and 2 = $30,000

Cash flow in year 3 = $30,000 - $15,000 = $15,000

I = 12%

Present worth = $141,378.23

For method B,

Cash flow in year 0 = $120,000

Cash flow in year 1 and 2 = $8, 000

Cash flow in year 3 = $8,000 - $40,000 = $-32,000

I = 12%

Present worth = $110,743.44

Method b would is chosen because it worth less.

To find the present worth using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

4 0
3 years ago
The Talbot Company uses electrical assemblies to produce an array of small appliances. One of its high cost / high volume assemb
Pani-rosa [81]

Answer:

160

Explanation:

Reorder point is the inventory level at which new order are placed to prevent a down time due to stock out and and holding cost are also at the minimal level .

<u>Workings</u>

Annual demand = 8000

Ordering cost = $50

Holding cost = $20

Operating days = 250

Lead time =5 days

Re order point = Average daily usage * Average lead time

Average daily usage = 8000/250 = 32

Reorder point = 32*5 =160

3 0
3 years ago
Which tone would be most appropriate for a cover letter to accompany your resumé? friendly, but business-like casual and sincere
soldier1979 [14.2K]
The answer is: 
__________________________
[A]: <span>friendly, but business-like .
__________________________</span>
8 0
2 years ago
Read 2 more answers
PC Bell, a computer manufacturer that sells computer systems directly to customers, buys a computer chip for $180, software for
Colt1911 [192]

Answer:

Price at which this system is sold is $1,980

so correct option is B. $1,980

Explanation:

given data

computer chip = $180

software = $350

printer = $50

value added = $1,400

to find out

price at which the system is sold

solution

Price at which this system is sold is

system is sold = computer chip + software  + printer + value added

so

Price at which this system is sold is = $180 + $350 + $50 + $1,400

Price at which this system is sold is $1,980

so correct option is B. $1,980

3 0
3 years ago
The finance minister of a developing country demands a heavy payment for the approval of a multi-million dollar contract with a
OverLord2011 [107]

Answer:

Extortion

Explanation:

Extortion is the act of threatening or forcing another party to give you something, most of the time money.

In this case the minister in the developing country is demanding for payment before giving approval for the multi-million dollar contract.

The threat the minister is using against the company is to not approve Thier contract.

6 0
3 years ago
Other questions:
  • The Filling Department of Eve Cosmetics Company had 3,900 ounces in beginning work in process inventory (90% complete). During t
    6·2 answers
  • Harmon opens a new restaurant, which he insures for twice its worth. Knowing his business is insured, Harmon becomes careless in
    15·1 answer
  • Checkers uses the periodic inventory system. For the current month, the beginning inventory consisted of 7,200 units that cost $
    5·1 answer
  • Type the correct answer in the box. Spell all words correctly. What is the first step taken by the management team in any indust
    7·1 answer
  • Use this end-of-period spreadsheet to answer the questions that follow. Finley Company End-of-Period Spreadsheet For the Year En
    5·1 answer
  • After teaching a class on game theory, your instructor announces that if every student skips the last question on the next exam,
    10·1 answer
  • According to our Lecture, which of the following strategic concepts allow firms to achieve their missions?A) productivity, effic
    12·1 answer
  • Which statement is correct in regard to renting a home?
    15·1 answer
  • Which statement describes the effect of taxes on a traditional 401(k) retirement account?
    7·2 answers
  • Which of these is an example of a shortage?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!