5555555 explanation for what you wanna get you know how
Answer:
The question is incomplete, so I looked for a similar one:
A wood products company has decided to purchase new logging equipment for $100,000 with a trade-in of its old equipment. The old equipment has a BV of $10,000 at the time of the trade-in. The new equipment will be kept for 10 years before being sold. Using the MACRS (GDS recovery period), what is the depreciation charge permissible at year 1?
Depreciable value using MACRS is $100,000 and logging equipment is classified as 7 year class, and I will use the half-year convention:
depreciation year 1 = $100,000 x 14.29% = $14,290
Answer:
The correct entries would as follows:
Dr Organization/legal fees(3000*$4.5) $13,500
Cr Common stock($1*3000) $3,000
Cr paid in capital in excess of par($4.5-$1)*3000)) $10,500
Explanation:
The total cost incurred has increased to $13,500 since the stock needs to be recorded at its fair value on the date of the agreement and the approximate fair value is the market price.
As a result,legal fees expenses is debited with $13,500 while the common stock account is credited with par value of $1 per share and the excess over par value of $3.5 is credited to paid in capital in excess of par.
Answer:
what is the best business structure for continuity and transferability
Explanation:
Sanjay is looking towards beginning a new company. His plans are for his children to take over the company when they are adults in the future.
The most important question he has to consider in this establishment, is one whose answer can provide with the best business entity/structure that would still stand in the future and whose ownership can be handed over to his children In the future.
