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yKpoI14uk [10]
4 years ago
14

Quanti Co., a calendar year taxpayer, purchased small tools for $5,000 on December 21, 2016, representing the company's only pur

chase of tangible personal property that took place during 2016. On its 2016 tax return, how many months of MACRS depreciation may Quanti Co. claim on the tools (assuming they do not qualify for immediate expensing/bonus depreciation)?
Business
1 answer:
iris [78.8K]4 years ago
7 0

Answer:

1 and a half months worth of depreciation

Explanation:

The advantage of starting to depreciate an asset purchased on December is that next year you will be able to depreciate it for a full year under MACRS.  Generally, when you purchase an asset, you have to use the half year convention and your depreciation expense for the first year will be low compared to the second year. But if you start depreciating your asset in the current year, even if you purchased it on December and the depreciation expense is not that significant, the next year you will be able to depreciate it at the second year rate.

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Anner Manufacturing is developing an activity-based costing system to improve overhead cost allocation. One of the first steps i
kenny6666 [7]

Answer:

When you collect all the costs related to performing a particular activity (e.g. producing a product), you have created an activity cost pool. This helps to get an accurate estimate of the cost of that activity or task and is mostly applied in <em>activity-based costing system</em>. Different activities may require different cost pools.

The activities below are thus classified accordingly:

1. Labelling and Packaging - <em>Batch Cost Pool</em>

2. Plant Security - <em>Facility Level Cost Pool</em>

3. Sales Commission - <em>Product Cost Pool.</em> (This is incurred in selling the product and so must be pre-built into the price of the product.

4. Supplies - <em>Unit Level Cost Pool </em>(Supplies are incidental items that are expected to be consumed in the near future. Examples are paper clips that you use in the daily workings of the business. Supplies are differ from Materials which refer to the raw stock from which finished goods are made. Examples of material are raw materials, components, sub-components, and production supplies. Materials would go under Product Cost Pool.

Cheers!

3 0
4 years ago
From an economic perspective, when consumers leave a fast-food restaurant because the lines to be served are too long, they have
Vilka [71]

Answer:

a) Marginal cost of waiting is greater than the marginal benefit of being served

Explanation:

For an economic perspective, customer leave a fast food restaurant as they find the marginal cost of waiting is higher than the cost of marginal benefit of being served at restaurant.

Marginal cost: In economics, it is a cost that is incurred for an additional unit of benefit received out of certain action or activity.

Marginal benefit: It is a benefit received for an additional unit of cost incurred during the activity taken place.

Therefore, customer have done analysis on the benefit of waiting in a queue for getting served at restaurant, which he found that marginal cost is greater than the marginal benefit of being served.

4 0
3 years ago
Draft an inquiry letter for purchase of 10 units of IBM P4 computers and 2 units of Lx 300 Epson printers to Kathmandu Computers
gtnhenbr [62]

Based on writing standards, the inquiry letter for purchase should begin with the sender's address and be written like a formal letter.

<h3>Structures of Letter of Inquiry.</h3>
  • The sender's address should be written at the beginning of the letter, followed by the receiver's address.

  • The letter must contain all the elements of the enquiring item, including their quantities.

  • There must be the date and address of the receiver included.

  • The letter's subject must be written clearly before the letter's content.

  • Ensure you provide the expected salutation at the beginning of the letter.

  • Write clearly and straightforward.

  • Provide reasons and inquiry descriptions.

  • Add your signature, name, and designation at the end of the letter.

Hence, in this case, it is concluded that there are specific ways to write a good inquiry letter.

Learn more about Inquiry Letter here: brainly.com/question/4208084

4 0
3 years ago
Assume that the banking system has total reserves of $100 billion. Assume also that required reserves are 10 percent of checking
ivolga24 [154]

Answer:

The money multiplier and money supply for this banking system is 10 and $1,000 billion respectively

Explanation:

The computation of the money multiplier and the money supply is shown below:

As we know that

Money multiplier is

= 1 ÷ required reserve ratio

= 1 ÷ 0.10

= 10

So, the money supply is

= Total Reserves × Money Multiplier

= $100 billion × 10

= $1,000 billion

hence, the money multiplier and money supply for this banking system is 10 and $1,000 billion respectively

5 0
3 years ago
Malcolm is part of a team developing a new smartphone app to track traffic patterns. Because team members are located throughout
Karolina [17]

Answer:

c. Virtual Team

Explanation:

Since they don't meet in person, they are settled in different locations and collaborate through technolgy, they only meet virtually, they are called a virtual team

4 0
3 years ago
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