Answer:
The correct answer is letter "B": Is a method used to evaluate changes in financial data across time.
Explanation:
Horizontal analysis compares the balance sheet or income statement of an entity over two or more periods. It is called horizontal analysis because it arranges numbers side by side to make direct comparisons so that improvements can be seen more easily.
Answer:
Explanation:
The following statement is false and true
1. Indirect costs are traced to cost objects - This statement is false because it is not directly traced to the cost objectives. It is traced through the cost drivers.
2. Yes, this statement is true because the cost drivers are used to allocate the indirect cost to their cost objects
3. Yes, this statement is true because for computing the allocation rate, we have to divide the total allocation cost to its allocation base
4. Yes, this statement is true because the cost drivers play very important for cost allocation. Without cost drivers, the allocation of the cost would not be possible
5. This statement is false because depreciation should be allocated based on its useful life rather than the number of square feet because the number of square feet occupied is used to allocate the renting cost
Answer:
The correct answer is $30,290.
Explanation:
According to the scenario, the computation can be done as follows:
This applies regular MACRs
So, As furniture is the Seven year property,
So, the cost recovery deduction for the furniture = $100,000 × .1429
= $14,290
And The computer is a five year asset
So, the cost recovery deduction for the Computer = $80,000 × .20
= $16,000
So, Total Cost recovery deduction = Cost of recovery deduction for furniture + cost of recovery deduction for computer
= $14,290 + $16,000
= $30,290
Hence, the cost recovery deduction for the business assets for 2019 is $30,290.
Answer:
$0
Explanation:
Not-for-profit organizations are required to record donations, e.g. money, food, clothes, etc., but they are not required to record voluntary work. In this case, Chris was a volunteer who spent 240 hours caring for turtles. It doesn't matter how much does Chris earns in his normal job, he cannot deduct volunteer work and the Turtle Society does not need to record his work either.
<span>Typically homes increase in value over time and cars decrease in value depreciate over time
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