Complying with the law will avoid legal problems and assure customers about the quality of the products sold by a business. ... It will also help to maintain a good reputation for the business.
Answer:
to calculate depreciation using the sum-of-the-years'-digits method:
n(n+1) divided by 2 = [12(13)] / 2 = 78
depreciable value = cost - salvage value = $469,000 - $40,000 = $429,000
- depreciation year 1 = 12/78 x $429,000 = $66,000
- depreciation year 2 = 11/78 x $429,000 = $60,500
- depreciation year 3 = 10/78 x $429,000 = $55,000
the formula used to calculate depreciation using the double-declining-balance method is:
2 x cost of the asset x depreciation rate
- depreciation year 1 = 2 x $469,000 x 1/12 = $78,167
- depreciation year 2 = 2 x ($469,000 - $78,167) x 1/12 = $65,139
- depreciation year 3 = 2 x ($390,833 - $65,139) x 1/12 = $54,282
Answer:
The answer is D) will raise disposable income and raise spending
Explanation:
When taxes are cut disposable income increases as there is less income used to pay taxes. If there is a higher amount of disposable income available then spending will increase as well as spending appetite.
Cutting taxes is a easy way to stimulate spending in an economy.
The correct answer is therefore D) will raise disposable income and raise spending.
Cutting taxes can also increase aggregate demand which can lead to higher economic growth as well.
Answer:
The correct answer is letter "E": a durable power of attorney.
Explanation:
A power of attorney is a document stating another party is legally right to act on an individual's behalf. As soon as the individual is capable to handle business, the power of attorney loses validity.
A durable power of attorney, instead, is used when the individual delegating power to another party has knowledge of being impaired soon and possibly is not going to recover. Thus, the durable power of attorney will be valid since the individual cannot handle business until the moment of his or her decease. During that time, the selected party is right to make health and finance decisions on behalf of the individual.
Answer:
The amount of net income reported in 2020 income statement would be $75,000.
Explanation:
Pretax accounting income for 2020 = $100,000
Income tax expense for 2020 = Current tax + Reversal of Deferred tax assets
= ($100,000 - $100,000)*25% + ($100,000*25%)
= $25,000
Amount of net income reported in 2020 income statement = Pretax accounting income - Income tax expense
= $100,000 - $25,000
= $75,000
Therefore, The amount of net income reported in 2020 income statement would be $75,000.
