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sdas [7]
4 years ago
6

This year Amy purchased $3,350 of equipment for use in her business. However, the machine was damaged in a traffic accident whil

e Amy was transporting the equipment to her business. Note that because Amy did not place the equipment into service during the year, she does not claim any depreciation or cost recovery expense for the equipment. a. After the accident, Amy had the choice of repairing the equipment for $2,600 or selling the equipment to a junk shop for $450. Amy sold the equipment. What amount can Amy deduct for the loss of the equipment
Business
1 answer:
cricket20 [7]4 years ago
6 0

Answer:

For a complete destruction of a business asset, Amy can claim a casually loss deduction for the tax basis of the machine less any recovery. Hence Amy can claim a casually deduction for ( 3350 - 450 ) = $2900.

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What bill will have to be paid one of these days to kill a mockingbird?
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In a waiting line system, suppose the arrivals are random with an average of 6 customer per hour, whereas the average capacity o
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Common quantity of clients ready in line is the subsequent measures of machine overall performance is a key degree with recognize to consumer satisfaction.

The required details for customer in given paragraph

In sales, trade, and economics, a consumer (on occasion referred to as a patron, buyer, or purchaser) is the recipient of a good, service, product or an concept - received from a dealer, vendor, or supplier thru a economic transaction or exchange for money or a few different valuable consideration. Clients who habitually go back to a dealer broaden customs that permit for normal, sustained trade that lets in the vendor to broaden statistical fashions to optimize production processes (which alternate the character or shape of products or services) and deliver chains (which adjustments the vicinity or formalizes the adjustments of possession or entitlement transactions). The time period patron is derived from Latin customers or care meaning "to incline" or "to bend", and is associated with the emotive concept of closure. It is broadly believed that humans handiest alternate their conduct whilst inspired by greed and fear.

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To know about customer click here

brainly.com/question/26313265

#SPJ4

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