Can someone help me please

Green Company purchases a truck for $30,000 on the first day of the year. Green Company uses straight-line depreciation and esti

SpyIntel [72]

Answer:

$5,000

Explanation:

The depreciation by Green Company in respect of truck for the first year of operations shall be calculated using the following mentioned formula;

Depreciation for the year= (Cost of asset-Residual value)/useful life

Cost of asset=$30,000

Residual value=$5,000

useful life=5

Depreciation for the year=($30,000-$5,000)/5=$5,000

6 0

3 years ago

At a price of $200, a cell phone company manufactures 100000 phones. At a price of $300, the company produces 300000 phones. Wha

valkas [14]

Answer:

2.5

Explanation:

P1=$200

P2=$300

S1=100000

S2=300000

The percentage change in price is:

$\Delta P =\frac{300-200}{\frac{200+300}{2}}=0.4=40\%$

The percentage change in supply is:

$\Delta S =\frac{300000-100000}{\frac{100000+300000}{2}}=1=100\%$

The price elasticity of supply is given by:

$E=\frac{\Delta S}{\Delta P}=\frac{100\%}{40\%}=2.5$

The price elasticity of supply is 2.5.

4 0

3 years ago

Problem 20-40 (LO. 3, 8) Citron, a calendar year taxpayer, began business in January 2017. It had a long-term capital gain of $5

Fittoniya [83]

Answer:

Explanation:

A. Provision of long term capital gain as An Individual.

Long-term capital gain of $5,000 in 2017 is taxable in 2017 as a longterm capital gain @15%

And long term capital loss of $10,000 in 2018 is either sett off to the capital gain or capital loss upto $3,000 can be settoff from normal income above this limit can be carry forword for next year.

Three maximum federal income tax rates apply to most types of net long-term

capital gains income in tax year 2018:

1. 0 percent for taxpayers in the 10 percent or 15 percent bracket for ordinary income (under $73,800 for married joint filers)

2. 15 percent for taxpayers above the 15 percent bracket but below the 39.6 percent bracket (from $73,800 to $457,600 for married joint filers)

3. 20 percent for taxpayers in the top 39.6 percent bracket ($457,600 or higher for married joint filers)

B. Provision of long term capital gain as An C corporation.

C corporation deduct capital loss upto theire capital gain.

If in any tax year apital loss exceed capital gain than it can not be deduct from other income of same year.

Therefore loss of $10,000 can be carry forward for next year.

C. Provision of long term capital gain as An S corportation.

S corporations are pass-through entities, which means that the company itself does not pay taxes on the sale of its assets. Rather, the income from the sale of its assets passes through to the shareholder, who is responsible for paying taxes.

8 0

3 years ago

Which government agency is in charge of regulating the sale of stocks and bonds? A. The Securities and Exchange Commission B. Th

viva [34]

Answer:

A

Explanation: The Securities and Exchange Commission

4 0

3 years ago

Listed below are the ledger accounts for Borges Inc. at December 31, 2019. All accounts have normal balances. Service Revenue $2

Tresset [83]

Answer:

Explanation:

The debit and credit balance of trial balance is shown below:

Debit balance = Cash + Rent Expense + Dividends + Salaries Expense + Equipment + Accounts Receivable + Advertising Expense

= $12,850 + $2,400 + $1,500 + $4,300 + $12,935 + $5,700 + $1,370

= $41,055

And the credit balance = Service revenue + accounts payable + common stock

= $23,230 + $2,825 + $15,000

= $41,055

The preparation of the trial balance is given in the spreadsheet. Kindly find the attachment below:

3 0

3 years ago