Answer: His cost deduction would be $3,200
Explanation:
Without the mid-quarter convention Muhammad’s 2019 MACRS deduction would be $3,200 ($16,000 x .20). The mid-quarter convention slows down the taxpayers available cost recovery deduction.
It is on account of nobody is independent.A service is the creation of a basically elusive advantage, either in its own particular right or as a critical component of a substantial item, which through some type of trade, fulfills a distinguished need.
Answer:
B. expressed as a percentage of sales.
Explanation:
The common size income statement is the income statement where n each line the item on the income statement should be expressed as a percentage of sales
In the given options, the option B is correct as it shows that the depreciation would be expressed in sales percentage
Therefore all other options are wrong
David wants to know if his company’s resources are being used in the best, most productive manner in order to achieve company goals. David wants to know his organization’s efficiency.
<h3>What is the significance of the organization’s efficiency?</h3>
Organizational efficiency of an organization mainly examines and determines how to increase the productivity of an organization by using a specific amount of resources.
Organization’s efficiency plays a very significant role in the smooth and effective operations of the firm as it helps the organization achieving the objectives.
Basically, the efficiency of an organization completely depends on its employees, resources, goals and objectives.
Learn more about organization’s efficiency here:-
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Answer:
The answer is: Garnett Co.'s net income is $7,600
Explanation:
To determine the net income we must first calculate the cost of goods sold and the commissions paid:
- COGS = $50,000 x 40% = $20,000
- Commissions = $32,000 x 10% = $3,200
Now we can elaborate the following income statement for Garnett Co.
Total sales $32,000
COGS ($20,000)
Commissions ($3,200)
<u>Advertising expense ($1,200) </u>
Net income $7,600
