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Leno4ka [110]
3 years ago
14

This year Army purchased $3,700 of equipment for use in her business. However, the machine was damaged in a traffic accident whi

le 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 expense for the equipment.
a. After the accident, Amy had the choice of repairing the equipment for $1,880 or selling the equipment to a junk shop for $690. Amy sold the equipment. What amount can Amy deduct for the loss of the equipment
b. After the accident, the Army repaired the equipment for$ 1,370. What amount can Army deduct for the loss of equipment?
c. After the accident, Army could not replace the equipment so she had the equipment repaired for $4,300. What amount can Army deduct for the loss of the equipment?
Business
1 answer:
Andreas93 [3]3 years ago
4 0

Answer: Check explanation

Explanation:

a. Since Amy bought the equipment for $3700 and sold the equipment for $690, the amount that Amy can deduct for the loss of the equipment will be:

= $3700 - $690

= $3010

b. Here, the amount that Army can deduct for the loss of equipment will be the lesser of the amount Amy bought the equipment which is $3700 or the cost of the repair which is $1370.

Therefore, $1370 will be deducted.

c. After the accident, Army could not replace the equipment so she had the equipment repaired for $4,300. What amount can Army deduct for the loss of the equipment?

Here, the amount that Army can deduct for the loss of equipment will be the lesser of the amount Amy bought the equipment which is $3700 or the cost of the repair which is $4300.

Therefore, $4300 will be deducted.

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A firm sells a product in a purely competitive market. The marginal cost of the product at the current output of 200 units is $4
Eddi Din [679]

Answer:

The correct answer is option B.

Explanation:

A firm sells a product in a purely competitive market.

The marginal cost of the product at the current output of 200 units is $4.00.

The average variable cost is $3.50.

The market price of the product is $3.00.

The market price is not covering the average variable cost. In this situation, the firm must be incurring losses. To minimize losses the firm should produce less than 1,000 units at the point where marginal cost is equal to market price and the average variable cost is being covered.

6 0
2 years ago
A customer who is long 1 oex may 315 call exercises the contract on this day. the customer will receive:________
Nutka1998 [239]

A customer who is long 1 OEX may 315 call exercises the contract on this day. the customer will receive $58.00. Option A

This is further explained below.

<h3>What is called exercises?</h3>

Generally,  If you possess a call option and the current stock price is greater than the strike price, it makes financial sense for you to execute your call option at this time.

You are able to make a profit by purchasing the stock at a lower price so that you can either instantly resell it to the market at a higher price or keep it for the long term.

In conclusion, On this day, a client who is long 1 OEX and has a 315 call option on the contract may execute it. The total amount that the client will get is $58.00. Alternative A

Read more about call exercises

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3 0
1 year ago
Curtis purchased stock with an initial share price of $140, and sold it when the share price was $119. While he owned the stock,
kondaur [170]

Answer:

i think it is 31 i hope this helps brainlist pls

4 0
2 years ago
A T-bill quote sheet has 90-day T-bill quotes with a 5.77 ask and a 5.71 bid. If the bill has a $10,000 face value, an investor
Leona [35]

Answer:

a. $9,857.25

Explanation:

Price = Face value * (1 - Bid*Days/360)

Price = $10,000 * (1 - 5.71%*90/360)

Price = $10,000 * (1 - 5.71%*0.25)

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Price = $10,000 * 0.985725

Price = $9,857.25

6 0
3 years ago
What payment method do you think is the most practical?
prohojiy [21]

Answer:

E

Explanation:

All of the above can be practical depending on your situation

4 0
2 years ago
Read 2 more answers
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