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Mumz [18]
3 years ago
9

During 2018, businesses may elect to immediately expense up to $__________ of qualified real property placed in service that yea

r under Section 179
Business
1 answer:
alex41 [277]3 years ago
5 0

Answer:

$1 million

Explanation:

Section 179 deduction of the IRS code was enacted to help small business owners take depreciation deductions for certain assets ( capital expenditure I.e. the money spent on acquiring and maintaining fixed assets such as buildings and equipments ) in one year rather than continuous depreciation over a long period of time.

The new law increased the maximum deduction from $500,000 to $1 million.

For example: lets say you buy a computer for your office, under section 179 you can deduct the full cost of your computer in one year. This a very okay because the life span of your computer is short

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Answer: The correct answer is "(A) Debit Accounts Receivable and credit Cash for $560".

Explanation: The non-existent 560 must be adjusted in the cash account, and the 560 receivable must be added to the third party that issued the check in the "accounts receivable" account.

The entry would be:

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Accounts Receivable                   560

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3 years ago
"When a T-shirt manufacturer states, ""We sell it only in black because that way we can buy plenty of black fabric and run our p
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Production Oriented or Mass Production Era.

Explanation:

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3 years ago
Consider an 8.5% loan amortizing at a 25-year rate with monthly payments. What is the maximum amount that can be loaned on a pro
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Answer:

<u>Maximum Amount that can be loanded = $4139619</u>

Explanation:

DSCR = NOI / Debt Service

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or, P = 400000 / 0.0966272500154557 = $4139619

<u>Maximum Amount that can be loanded = $4139619</u>

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Jing-Sheng facilitated a hiring committee for his advertising company. Six employees (including two managers) met together to di
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