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Wewaii [24]
3 years ago
5

During 2017, William purchases the following capital assets for use in his catering business:

Business
1 answer:
mamaluj [8]3 years ago
3 0

Answer:

$21,640.

Explanation:

So, we are given the following data or parameters or information which is going to assist us in solving this question/problem:

=> "New passenger automobile (September 30) = $61,600."

=> "Baking equipment (June 30) = 18,480"

=>" William decides to use the election to expense on the baking equipment (and has adequate taxable income to cover the deduction) but not on the automobile (which has a 5-year recoveryand he also uses the MACRS accelerated method to calculate depreciation but elects out of bonus depreciation. "

=> "Assume he has adequate taxable income."

Therefore, if we are to follow the rules of the Internal Revenue Services, the new passenger automobile that is the depreciable limit = 11,160 - 8000 = 3,160.

Hence, the maximum depreciation deduction = Baking equipment + depreciable limit = 18,480 + 3,160 = $21,640.

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Which of the following statements is true regarding the cumulative translation adjustment? Select one: Changes in the cumulative
vaieri [72.5K]

Answer:

The true statement is "The cumulative translation adjustment account affects the amount of gain or loss reported upon the sale of a foreign subsidiary".

Explanation:

The current technique needs that each one quality and accountability books be interpreted at this rate whereas shareholders’ justice accounts are interpreted at ancient altercation rates. The distinction is mirrored finished the additive conversion alteration, therefore the quantity of improvement or loss according upon the auction of a distant secondary to the additive conversion alteration.

8 0
3 years ago
1. Do you think it's really important to start saving for retirement as early as possible? Why or
Colt1911 [192]
Yes, I think it is important to save for retirement as early as 18 years old. I think this so that if anything goes wrong you can have kind of like a safety net.
6 0
3 years ago
If a company produces many different products, it will develop a standard cost for each type of product. true false
saveliy_v [14]

True. A company will develop a standard cost for each product type if it produces many different products.

The process cost system should be used when manufacturing is efficient and continuous. This system's equivalent units method successfully represents the challenging problem of determining how much work the Work in Process entails.

Process costing explains how to use the concept of equivalent units to assign manufacturing costs to the units produced. Businesses may create and market various goods, or at the very least, multiple versions of the same product. Most of the time, manufactured goods are connected in terms of consumption or production. The firm's output and pricing decisions must consider the relationships between the items when they are related.

Learn more about Standard Cost here:

brainly.com/question/14754704

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4 0
2 years ago
The money paid to corporate investors in return for their investment is called _______.
Andrej [43]
It's called dividend. It's their share of the profit
8 0
3 years ago
An investor originally paid $22,000 for a vacant lot twelve years ago. If the investor is able to sell the lot today for $62,000
MArishka [77]

Answer:

b.9%

Explanation:

Formula for annual rate of return formula is as follows;

Annual rate of return = [ (New value/ Initial value)^(1/t) ] -1

t = the total holding period of investment = 12 years

Old value = 22,000

New value = 62,000

Next, plug in the numbers to the formula;

Annual rate of return; r = [ (62,000/22,000) ^(1/12) ] -1

r = [2.8182 ^(1/12)] - 1

r = 1.0902 -1

r = 0.0902 or 9%

4 0
3 years ago
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