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kozerog [31]
3 years ago
9

Alejandro purchased a building in​ 1985, which he uses in his manufacturing business. Alejandro used the ACRS statutory rates to

determine the​ cost-recovery deduction for the building.​ Alejandro's original cost for the building is​ $500,000 and​ cost-recovery deductions allowed are​ $500,000. If the building is sold for​ $800,000, the tax results to Alejandro areA. $500,000 sec 1245 ordinary income and $300,000 sec 1231 gainB. $800,000 sec 1231 gainC. $500,000 sec 1245 ordinary incomeD. $500,000 sec 1245 ordinary income and $300,000 sec 1250 gain
Business
2 answers:
Ira Lisetskai [31]3 years ago
4 0

Answer:

A

Explanation:

bija089 [108]3 years ago
3 0

Answer:

Option A is the correct one.

$500000 sec 1245 ordinary income and $300000 sec 1231 gain

Explanation:

The total gain is $800000

800000-(500000-500000)

Of the total $800000 gain, $500000 gain will be treated as recapture of the depreciation taken under section 1245 and the remaining $500000 is traested as gain under section 1231 as the depreciatble property is used in business for more than 1 year .

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On September 1, 2003, Time Magazine sold 600 one-year subscriptions for $81 each. The total amount received was credited to Unea
Alina [70]

Answer:

Total subscriptions revenue for the period= 4 months (September 1 - December 31)  

= (600 * $81) * 4/12

= $48,600 * 4/12

= $16,200

Hence adjusting entry would be:

Deferred subscriptions revenue a/c Dr $16,200

To Subscriptions revenue Cr $16,200

7 0
3 years ago
Reynolds Manufacturers Inc. has estimated total factory overhead costs of $95,000 and expected
Jobisdone [24]

Answer:

The correct answer is D

Explanation:

Computation of allocation of factory overhead cost for the Job NO 117:

Now, computing the rate of overhead allocation as:

Pre- determined rate of overhead allocation = Estimated aggregate overhead / estimated number of labor hours

where

Estimated aggregate overhead is $95,000

Estimated number of labor hours is 9,500 hours

Putting the values above:

= $95,000 / 9,500 hours

= $10 per hour.

Computing the overhead cost to be allocated to Job No 117 as:

Overhead cost to be allocated to Job No 117 = Number of direct labor hours  × pre- determined rate of overhead

where

Number of direct labor hours is 2,300 hours

Pre- determined rate of overhead allocation  is 10 per hour

Putting the values above:

= 2,300 hours × $10 per hour

= $23,000

8 0
4 years ago
Why have the fortunes of the English gentry degenerated?
kotykmax [81]
The fortunes of the English gentry degenerated primary due to the reformation of the voting law. Initially, only land-owning gentry has the right to vote and they used their right to control the laws governing land ownership. When the voting law was reformed, the power of the gentry diminished, enabling non-gentry individuals to own land and create factories.

Since, the English gentry get their fortunes from leases on their lands used for farming, they were very affected when the people working on their lands opted to go to the city and become factory workers. Thereby decreasing their rental income.

Land taxes also increased and because some portion of the English gentry's land became idle and unproductive, they were not able to pay the increasing land taxes; forcing them to sell and dispose of their land to meet their tax obligations.

4 0
4 years ago
Edie Manson worked the following schedule: Monday, 8 hours; Tuesday, 9 hours; Wednesday, 7 hours 48 minutes; Thursday, 8 hours;
melomori [17]

Answer:

hundredth = 40.48 which is 40.8

Quarter = 40.48 which is 40.75

Explanation:

The total number of hours worked in all days of the week for Manson is 40 hours 48 minutes.

In hudredth time the conversion of 40.48 equals 40.8 but in quarter time to round time to nearest quarter hour, we have to round the times within 7 minutes of a 15 minute mark to that 15 minutes.  Since 48 minutes are only 3 minutes more than 45 minutes, we round back to 45 minutes which is 0.75 in decimal.

Hence the hundredth hour timing is preferred for Edie Manson because it shows a higher time for hours worked and potentially more pay.

4 0
4 years ago
How can you attract whole sale seller​
Kay [80]

Answer:

10 ways to increase your wholesale sales

1. Offer specials that bring retailers better-than-wholesale prices.

2.Provide outstanding customer service.

3.Make wholesale ordering, delivery, and billing as seamless as possible.

4 Streamline your operations.

5.Make order recommendations.

6.Create compelling, eye-catching campaigns.

and if you need more answer than please follow me

hope it's helpful

thank you

and follow me

6 0
3 years ago
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