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Arada [10]
4 years ago
13

Tons Beauty LLC uses the double-declining balance method for depreciation on its computers. Which item is not needed to compute

depreciation for the first year?
Business
1 answer:
erica [24]4 years ago
8 0

Answer:

Residual or salvage value isn't needed in the calculation of deprecation expense using the double declining method.

Explanation:

Deprecation expense using the double declining method = [2 ×(1/useful life)] × cost of the asset

I hope my answer helps you

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The Tuck Shop began the current month with inventory costing $19,000, then purchased inventory at a cost of $52,950. The perpetu
DaniilM [7]

Answer:

Inventory shrinkage = $1,322

Explanation:

We know,

Inventory shrinkage = Ending inventory - Actual inventory at hand

Given,

Actual inventory at hand = $13,500

Ending inventory = Beginning inventory + Purchase - Inventory sold(Costing price)

Or, Ending inventory = $19,000 + $52,950 - $57,128

Or, Ending inventory = $71,950 - $57,128

Or, Ending inventory = $14,822

Therefore,

Inventory shrinkage = Ending inventory - Actual inventory at hand

Or, Inventory shrinkage = $14,822 - $13,500

Or, Inventory shrinkage = $1,322

5 0
3 years ago
This year, Company LI built a light industrial facility in County G. The assessed property tax value of the facility is $20 mill
const2013 [10]

Answer:

Net Revenue=$120,000

Explanation:

Given Data:

Tax abated=4%

Assessed property tax value of the facility=$20,000,000

New assessed property tax value of the facility=$23,000,000

Required:

Net effect on County G’s current year tax revenue from the abatement=?

Solution:

Decrease in revenue=(0.04*$20,000,000)

Decrease in revenue=$800,000

Decrease in Revenue due to economic boom=0.04*$23,000,000

Decrease Revenue due to economic boom=$920,000

Net Revenue= Decrease Revenue due to economic boom-Decrease in revenue

Net Revenue=$920,000-$800,000

Net tax Revenue=$120,000

8 0
3 years ago
1. A coupon bond pays the owner of the bond A) the same amount every month until the maturity date. B) a fixed interest payment
a_sh-v [17]

Answer:

Option "B" is the correct answer to the following statement.

Explanation:

A coupon bond contract, also abbreviated to as a holder stock, is a debt with a stamp that also has tiny attachable vouchers. The vouchers grant the buyer the opportunity to make interest charges from the lender.

In a coupon bond, an investor gets the face value of the bond on maturity with a fixed interest payment.

4 0
4 years ago
Read 2 more answers
Campbell, a single taxpayer, earns $400,000 in taxable income and $2,000 in interest from an investment in State of New York bon
Artist 52 [7]

Answer: Campbell will owe $115,858.25 in federal income tax this year computed as follows:

$115,858.25= $45,353.75+ 33% x ($400,000 - $186,350)).

Campbell's average tax rate is 28.96 percent.

Average Tax Rate = TotalTax / TaxableIncome = $115,858.25 / $400,000 = 28.96

Campbell's effective tax rate is 28.82 percent.

Effective tax rate = TotalTax / TotalIncome = $115,858.25 / ($400,000 + $2000) = 28.82

Campbell is currently in the 33 percent tax rate bracket. Her marginal tax rate on deductions up to $213,650 will be 33 percent. However, her marginal tax rate on the next $5,100 of income will be 33%, and income earned over $405,100 will be 35 percent. Income earned in excess of $406,750 will be taxed at 39.6%.

3 0
3 years ago
Jeff believes he will need $60,000 annual income during retirement. if he can achieve a 6% return during retirement and believes
Paul [167]
The answer to this question is C, $5,790. Jeff will need $5,790.
3 0
3 years ago
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