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Alex Ar [27]
3 years ago
8

Littman LLC placed in service on July 29, 2019, machinery and equipment (seven-year property) with a basis of $600,000. Littman'

s income for the current year before any depreciation deduction was $100,000. Which of the following statements is true to maximize Littman's total depreciation deduction for 2019?
A) Littman should take $179 expense equal to the maximum $1,000,000.
B) Littman should take no $179 expense.
C) Littman's $179 expense will be greater than $100,000.
D) Littman's $179 expense will be less than $100,000
E) None of the choices are correct. de out
Business
1 answer:
n200080 [17]3 years ago
4 0

Answer:

Option C) Littman's $179 expense will be greater than $100,000

Explanation:

Data:

Littman LLC placed in service on July 29, 2019, machinery and equipment (seven-year property) with a basis of $600,000. Littman's income for the current year before any depreciation deduction was $100,000

From the options, In order to minimize depression, Littman's $179 expense will be greater than $100,000. This will come from the profit loss reconciliation. Hence option C will be the correct option in this case.

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3 years ago
why is it important to establish a baseline when measuring social media success. group of answer choices it's important to know
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3 0
1 year ago
All the following statements concerning term insurance are correct EXCEPT: Group of answer choices Most policies can be renewed
Andru [333]

Answer: Most policies have a nonforfeiture benefit to refund a portion of a policy's cash value when coverage stops.

Explanation:

Term insurance is a type of life insurance policy whereby the policy owner will be given coverage for a particular time period.

It should be noted that term insurance can be renewed for additional periods without evidence of insurability and can also be converted to a permanent life insurance policy.

The option that most policies have a nonforfeiture benefit to refund a portion of a policy's cash value when coverage stops is not true.

8 0
3 years ago
In the Republic of Sildavia, a market basket of goods and services cost $130 in 2009, $140 in 2010, and $160 in 2011. Based on t
yarga [219]

Answer:

23.07%

Explanation:

For computing the inflation rate first we have to determine the price index for 2011 which is shown below:

Price index for 2011 is

= (market basket of goods and services cost in year 2011) ÷ (market basket of goods and services cost in year 2009) × 100

= ($160) ÷ ($130) × 100

= 123.07%

Now the inflation rate is

= (Price index for 2011 - price index for 2009) ÷ (price index for 2009) × 100

= (123.07 - 100) ÷ (100) × 100

= 23.07%

And, the price index for 2009 is

= ($130) ÷ ($130) × 100

= 100%

4 0
4 years ago
Bengal Co. provides the following unit sales forecast for the next three months: July August September Sales units 5,900 6,600 6
Nana76 [90]

Answer:

Units to be produced          6,075

Explanation:

July production budget

sales for the period           5,900

desired ending inventory

25% of next month

25% of August

25% of 6,600 =                 <u>   1,650  </u>

Total requirement needs    7,550

Beginning Inventory           (1,475)

Units to be produced          6,075

The forecast sales and the desired ending inventory are the needs for production, the beginning inventory is an amount we already have. So it decreases our production demand.

4 0
3 years ago
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