1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
GalinKa [24]
4 years ago
11

Tom Tom LLC purchased a rental house and land during the current year for $150,000. The purchase price was allocated as follows:

$100,000 to the building and $50,000 to the land. The property was placed in service on May 22. Calculate Tom Tom's maximum depreciation for this first year:
A. $1,605
B.$2,273
C. $2,408
D. $3,410
E. None of these
Business
1 answer:
Anika [276]4 years ago
5 0

Answer:

correct option is B.$2,273

Explanation:

given data

purchased = $150,000

building = $100,000

land = $50,000

to find out

Tom's maximum depreciation for this first year

solution

we will apply here The mid month convention applies

and recovery period for Residential property =  27.5-year

maximum depreciation will be here as

maximum depreciation = $100,000 × 2.273%

maximum depreciation = $100,000 × 0.02273

maximum depreciation = $2,273

so correct option is B.$2,273

You might be interested in
Jones Company sells an average of 200 chairs per week, of which 30% are regular chairs and 70% are executive chairs. Regular cha
MissTica

Answer:

Contribution margin per unit: $42.9

Total contribution margin: $8,580

Explanation:

The contribution margin per unit is calculated by calculating the total contribution margin, which is basically the total sales, minus the costs of production, in this cae we have that we sold:

60 regular chairs

140 executive charis

Now the total in sales is:

Regular sales: $6,000

Executive chairs: $23,800

The variable cost of each is:

Regular chairs: $3720

Executive chairs: $17,500

We add up the sales and withdraw from it the total variable cost:

29,800-21,220=8,850

The total contribution margin is equal to $8850.

And the contribution margin per unit is given by dividing the total contribution margin by the number of units sold:

8850/200=  42.9

So the contribution margin per unit is 42.9 dollars.

7 0
3 years ago
Nirav just opened a savings account paying 2 percent interest, compounded annually. After four years, the savings account will b
nlexa [21]

Nirav recently opened a savings account offering 2% annual compound interest, this means that Nirav will earn the same amount of interest each year for four years.

<h3>What is a saving account?</h3>

An account at a retail bank is formally called as a savings account. This is a type of account that person granted a person that his money is safe in a particular bank. Refer to the image below for the complete question.

The given case tells about that <u>what would be the impact</u> of savings account offering 2% annual compound interest on Nirav, then he will earn the same amount of interest compounded each year for four years.

Learn more about the interest, refer to:

brainly.com/question/1040694

#SPJ1

3 0
2 years ago
You and the HR manager, along with suggestions from the branch manager, must determine if background checks on all employees are
sergey [27]

Answer:

Terminate his employment

Explanation:

Based on the fact and information, Tibbits should be discharged from employment for his failure to disclose this relevant conviction. As a convicted offender, he is considered in the eyes of the  law to be high-risk and should not be allowed to enter unsuspecting clients’ homes.  It would be the company's liability if he acts non professionally and inappropriately at a jobsite.

7 0
3 years ago
An older person nearing retirement might typically find it better to invest in ________ since they generally seek less risk with
Helga [31]

The answer to this question is bonds. Bonds are an investment type where in investors’ gains a fixed-income over their investments. Bonds are less risky because the return of investment is in a fixed rate and this is less vulnerable to price swings in the stock market. 

5 0
3 years ago
Which marketing management philosophy focuses on the question, "what do customers want and need?".
svp [43]

Answer:

Which marketing management philosophy focuses on the question, "What do customers want and need?" -do research on its customers, competitors, and markets. -establish and maintain mutually satisfying relationships with customers.

7 0
2 years ago
Other questions:
  • The JPY/AUD spot exchange rate is 82.42, the JPY interest rate is 0.15%, and the AUD interest rate is 4.95%. If the interest rat
    12·1 answer
  • If convertible bonds were issued at a discount, when computing diluted EPS, the amortization of the bond discount: Multiple Choi
    11·1 answer
  • 2021 2020 Income Statement Information Sales revenue $ 8,400,000 $ 7,900,000 Cost of goods sold 5,535,600 5,400,000 Net income 3
    9·1 answer
  • To fund operations so far bill has taken out a second mortgage on his personal residence for $70,000 and deposited the full amou
    13·1 answer
  • Car expenses- sales<br>​
    13·2 answers
  • When does an expropriated investment become a government-run entity? A. On democratizationB. On deportationC. On nationalization
    10·1 answer
  • Progressive women reformers worked to: (a) reduce wages (b) limit the worday (c) overturn the nineteenth amendment (d) establish
    12·2 answers
  • Compass Inc. purchased 1250 bags of insulation, on account, from Glassco Inc. The bags of insulation cost $5.50 each. Compass pa
    12·1 answer
  • Allocating resources including people, equipment and money to carry out the company’s plans is the _________function of manageme
    5·1 answer
  • Seymour Corporation manufactures batons. Seymour can manufacture 300,000 batons a year at a variable cost of $750,000 and a fixe
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!