Answer:
Part A. $1200
Part B. $1200
Explanation:
Part A.
Under MACRS rules, the depreciation rate for the 5 year recovery period asset would be:
Year 1 20%
Year 2 32%
Year 3 19.2%
Year 4 11.52%
Year 5 11.52%
Year 6 5.76%
This means that the first year MACRS depreciation deduction would be 20% which is $1200 ($6000 * 20%).
Part B.
If Sid does not elect Section 179 expensing then the depreciation would be calculated using straight line basis.
The depreciation would be:
Depreciaiton Expense = $6000 / 5 Years life = $1200
Answer:
$310,000
Explanation:
Calculation to determine the increase in the current year in net assets with donor restrictions
Using this formula
Net assets current year Increase=Restricted gift by donor+Restricted gift to pay salary+Restricted gift withheld+Unspent income earned
Let plug in the formula
Net assets current year Increase=$75,000+$95,000+$125,000+$15,000
Net assets current year Increase=$310,000
Therefore the increase in the current year in net assets with donor restrictions will be $310,000
Prox Inc. is a U.S.-based manufacturer of consumer electronics. It decides to export to Mexico and wants to protect its goods against damage, loss, and pilferage. The document which is applicable here is an A. <u>insurance certificate.</u>
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Explanation:
- A certificate of insurance is a document used to provide information on specific insurance coverage.
- The certificate provides verification of the insurance and usually contains information on types and limits of coverage, insurance company, policy number, named insured, and the policies' effective periods
- Certificate of Insurance is a summary document usually issued by an agent on behalf of an insurer that says a policy has been issued to an insured for a general type of risk.
- The Certificate is usually issued to a third party who wants some evidence or assurance that a policy has been issued.
- A certificate of insurance is requested when liability and large losses are a concern.
- Most commercial leases require the tenant to provide certificates of insurance or other evidence of insurance. Certificates of insurance are typically issued by an agent or broker for the named insured and set forth the coverages written for the insured
I believe it should be lack of investment
Answer: work in process inventory
Explanation:
The direct labor costs refers to the costs that is incurred by a company which has to do with the payment to the employees involved in the production activities of the company.
When a company assigns factory labor costs to jobs, then the direct labor cost is debited to the work in process inventory.
