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vitfil [10]
3 years ago
15

Lax LLC purchased only one asset during the current year (a full 12-month tax year). On August 26 Lax placed in service computer

equipment (five-year property) with a basis of $20,000. Calculate the maximum depreciation expense for the current year (ignoring §179 and bonus depreciation).
Business
1 answer:
Elena-2011 [213]3 years ago
6 0

Answer:

$4,000

Explanation:

The asset's recovery period is 5 years and the half-year convention applies.

Therefore :

$20,000 ×0.20 = $4,000.

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The shared federal and state health insurance program for low-income persons is called
Olin [163]

The joint federal and state health insurance program for low-income persons in the United States is called MEDICAID. Medicaid, helps with medical costs for those people with limited resources and income. While Medicaid is jointly funded by both federal and state governments, it is managed by the state governments.

8 0
3 years ago
An example of the ___________ effect is when BMW gained in-depth information about visitors to a popular Chinese social media si
Bezzdna [24]

Answer:

information effect.

Explanation:

Based on the information provided within the question it can be said that the effect being illustrated in this scenario is known as the information effect. This term refers to when a company obtains confidential information that allows them to make specific decisions to drastically increase their position within the market. Such as BMW is doing by using the information to target the correct population segment within the market.

5 0
3 years ago
Read 2 more answers
On January 1, 2018, Jacob Inc. purchased a commercial truck for $48,000 and uses the straight-line depreciation method. The truc
Norma-Jean [14]

Answer:

option (D) loss, $3,000

Explanation:

Given:

price of the truck = $48,000

estimated residual value = $8,000

Exchange price of the truck = $60,000

Trade allowance = $35,000

Since, straight line depreciation is given, thus,

Total depreciation = \frac{\textup{48,000−8,000}}{\textup{8}}

or

Total depreciation = $5,000 per year

Therefore,

the book value after two years

= Price of truck - total depreciation in two years

or

= $48,000 − ($5,000 × 2 years)

= $38,000

Now,

a trade allowance received ( i.e $35,000 ) is less than the book value

therefore a loss is recorded

The amount of loss = (Book value - trade allowance received)

or

The amount of loss =  $38,000 - $35,000 = $3,000

Hence, correct answer is option (D) loss, $3,000

5 0
3 years ago
Crane Sales Company uses the retail inventory method to value its merchandise inventory. The following information is available
wlad13 [49]

Answer:

c) $222,500 $313,500

Explanation:

Calculation for cost-to-retail ratio

COST

Beginning inventory $ 30,000

Add: Purchases $190,000

Add: Freight-in $2,500

Cost=$222,500

RETAIL

Beginning inventory $ 45,000

Add: Purchases $260,000

Add: Net markups $8,500

Retail = $313,500

Therefore the cost-to-retail ratio will be $222,500 $313,500

4 0
3 years ago
Within the Renault Nissan alliance (Chapter 9 Mini Case), both Renault and Nissan have each formed ____________ strategic allian
Troyanec [42]

Answer: (D) Horizontal complementary

Explanation:

The horizontal complementary is one of the type of business strategy alliances that are formed for increase the competition level in the marketing by producing the various types of product and new technologies in the market.

According to the question, the horizontal complementary strategy are basically refers to the partnership that link various types of organizational unit together with the other business units or companies.      

Therefore, Option (D) is correct.

5 0
3 years ago
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