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Ivan
4 years ago
14

Woodland Lake Manufacturing has a new project that requires $652,000 of equipment. What is the depreciation in Year 5 of this pr

oject if the equipment is classified as seven-year property for MACRS purposes? The MACRS allowance percentages are as follows, commencing with year 1: 14.29, 24.49, 17.49, 12.49, 8.93, 8.92, 8.93, and 4.46 percent.
Business
1 answer:
kozerog [31]4 years ago
5 0

Answer: $58,223.6‬0

Explanation:

The Modified Accelerated Cost Recovery System (MACRS) is the depreciation method being used currently in the United States to depreciate assets for tax purposes. The asset is depreciated over a certain period of time depending on the Assets class.

The equipment in this scenario is a 7-year property and is subject to the rates listed. The fifth year depreciation therefore is;

= 652,000 * 8.93%

= $58,223.6‬0

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For a professional athlete, making money off of products that use their likeness is an example of what concept?
myrzilka [38]

For a professional athlete, making money off of products that use their likeness is an example of Name, Image, and Likeness deals.

<h3>What are name, image, and likeness deals?</h3>

Name, image, and likeness deals are commercial endorsements that give publicity to professional and college athletes, who lend their names, images, and likeness to companies to leverage for their product brands.

Using marketing and promotional endeavors, companies can use the athlete's name, image, and likeness to create customer-attractive brands for their products.

These deals provide opportunities for the athletes to make money by permitting the business entities to use their name, image, and likeness to market and sell products.

Thus, while the agreements are called “NIL” deals, professional athletes use them to make money.

Learn more about NIL deals at brainly.com/question/14606828

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7 0
2 years ago
vanhoe Company reported the following results for the year ended December 31, 2021, its first year of operations: 2021 Income (p
stich3 [128]

Answer:

the deferred tax liability for the year ended is $297,500

Explanation:

The computation of the net deferred tax or liability is as follows:

= (Taxable income - income before income taxes) × enacted tax rate

= ($2,700,000 - $1,510,000) × 0.25

= $1,190,000 × 0.25

= $297,500

Therefore the deferred tax liability for the year ended is $297,500

Hence, the same is to be considered

6 0
3 years ago
The terpsichorean was familiar with the risks associated with various moves, the accountant knew financial risks forwards and ba
Savatey [412]

<u>Complete Question:</u>

The terpsichorean was familiar with the risks associated with various moves, the accountant knew financial risks forwards and backwards, while the civil engineer could quantify the risks associated with distributed loads on the temporary stage. Their input was used as part of:

A) a brainstorming meeting approach to risk factor identification.

B) the Delphi method approach to risk factor identification.

C) a past history approach to risk factor identification.

D) a multiple assessments approach to risk factor identification.

<u>Correct Option:</u>

Their input was used as part of "a multiple assessments approach to risk factor identification".

<u>Option: D</u>

<u>Explanation:</u>

The multiple assessments approach is collective procedure, which need unity from all the sectors to report their respective field experience in any firm or organization or department to identify the type of risk, its vulnerability, measures, etc.

The use of several indicators facilitates a more comprehensive and precise assessment. Like here terpsichorean was aware about risks, which was showcased by accountant and civil engineer in order to shape a strategy for preventing such risks or finding measures accordingly by full observation and analysis of situations.

8 0
3 years ago
. If you were starting a new business, describe at least three departments to the company that you would need right away. Why ar
Natali5045456 [20]
F I were to start a new business, the three departments that I would need right away are the production department, a sales and marketing department, and a finance department. A production department would be necessary as I would require a product or service to offer the market. A sales and marketing department would also be necessary, because I would need to sell this products in order to make money. A finance department would be necessary to manage the financial resources of the company.
8 0
3 years ago
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A decrease in the price of toothpaste in a tube can lead to a decrease in the purchase of toothpaste in a pump. This means: A. T
earnstyle [38]

Answer:

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toothpaste in a tube and toothpaste in a pump are substitute goods.

Substitute goods are goods that can be used in place of another good.

If the price of a good increases, the demand for the substitute increases and if the price of the good reduces, the demand for the substitute increases.

Only changes in price of a good can lead to movement along the demand curve for that good. A decrease in the price of  toothpaste in a tube would lead to a movement downward along the demand curve

Other factors affecting demand leads to a shift of the demand curve either to the right or to the left.

A decrease in the price of toothpaste in a tube would lead to a decrease in the purchase of toothpaste in a pump. This would lead to a leftward shift of the demand curve of toothpaste in a pump to the left.

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3 years ago
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