Answer:
2273
Explanation:
In this question, we are asked to calculate Tom Tom’s maximum depreciation for this first year.
The term maximum depreciation is accounting principle talks about to what extent has the value of an asset been used.
To calculate his maximum depreciation, we need to be conversant with some conventions. The mid-month convention is what we need to understand here. What the convention assumes is that an asset which is placed into service during a given month is assumed to have been placed into
Such service at the middle of such month in question. Also, it is also assumed that disposing an asset at the beginning of one month or any other time of the month is same as disposing the said asset at the middle of the month. This is what the mid month convention is talking about.
It must also be noted that Residential property has a 27.5-year recovery period. The depreciation is thus $2,273 ($100,000 x 2.273%). This gives us the value of the maximum depreciation
Answer:
The correct answer is option b.
Explanation:
A monopolist is the only firm in its market. It is the price maker and faces a downward-sloping demand curve. There is a restriction on the entry of new firms. So the monopolist can earn more than normal profit in both short-run as well as long run. The other firms can not join the market because of barriers to entry. So unlike a perfectly competitive firm, the monopolist will continue to earn super normal profits in the long run as well.
Answer:
c) affirmative action
Explanation:
c) affirmative action
affirmative action is a type of policy that is concerned on the upliftment of the minority group. As it is given in the information above, the minter providing help to minority races by hiring more employee from these races.
it provide access to opportunity for different races. it is first created by president JOHN F KENNEDY in the year 1961. it enforced to restrict employer not to discriminate on the basis of color, region or religion etc.
Answer:
the cap rate is 6%
Explanation:
The computation of the cap rate is as follows:
= Net operating Income ÷ Current market value of property
= $120,000 ÷ $2,000,000
= .06
= 6%
Hence, the cap rate is 6%
We simply divided the net operating income from the Current market value of property so that the cap rate could come
Answer:
Assuming Blain uses the aging method to estimate uncollectible accounts expense, the amount of uncollectible expense will be:
$1050
Explanation:
Aging
Current 10000 2% 200
1-30 5000 5% 250
31-60 3000 10% 300
Over 60 800 50% 400
1150
Allowance bad debts 100
Expense 1050
