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Minchanka [31]
3 years ago
13

On October 15, 2018, Jon purchased and placed in service a used car. The purchase price was $25,000. This was the only business

use asset Jon acquired in 2018. He used the car 80% of the time for business and 20% for personal use. Jon used the regular MACRS method and does not claim any expense under § 179 or additional first-year depreciation. If required, round your answers to the nearest dollar. Click here to access Exhibit 8.4 and Exhibit 8.5 of the textbook. Click here to access the limits for certain automobiles. a. Is the car eligible for additional first-year depreciation? Yes b. What MACRS convention applies to the new car? Mid-quarter c. Is the automobile considered "listed property"? Yes d. Does the automobile satisfy the "predominantly used for business" definition? Yes e. The total cost recovery deduction Jon may take for 2018 with respect to the car is $
Business
1 answer:
Anika [276]3 years ago
5 0

Answer: Total deduction= $2,528

Explanation:

25000*0.2*0.8=4,000  

Auto maximum = $3,160

Total deduction = 3,160*0.8

Total deduction= $2,528

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The following information is available for Crane Company: Sales $480000 Total fixed expenses $150000 Cost of goods sold 290000 T
r-ruslan [8.4K]

Answer:

The CVP income statement would report a contribution margin $220000.

Explanation:

CVP income statement

sales                               $480000

total variable cost          ($260000)

contribution margin       $220000

total fixed expenses      ($150000)

operating income            $70000

Therefore, The CVP income statement would report a contribution margin $220000.

6 0
3 years ago
What is a power grid?
Sindrei [870]

Answer:

What is a power grid?

C) Transmission lines and transformers that take and send electricity from generating facilities to end users

Explanation:

A power grid is a system of interconnected transmission lines and transformers that takes electricity from the producers to the consumers. The power grid is very important in the supply of electricity to consumers. Before power is to be transmitted to the consumers, it has to be generated. Traditionally, the conventional way of generating power was from central power stations that utilized sources like; fossil fuels, coal and natural gas. In the recent past, however, more advancements have been made towards more clean energy sources like; wind, geothermal and hydroelectricity. Clean energy sources have several benefits over the traditional sources of energy, like; they don't cause harm to the environment and also they are renewable since they can be used over and over without depletion.

Once the energy has been harnessed and converted to electricity, it needs to be transmitted. The network for transmission to the consumers is what makes up the power grid. Transmission is usually done at very high voltage to minimize losses. However, before providing it the consumers, the electricity needs to be converted to a low voltage by the use of transformers for domestic and commercial consumption.

6 0
3 years ago
Read 2 more answers
Choose and describe a business that you would expect to have highly liquid assets and share a photo of that business (or company
Slav-nsk [51]

Answer:

I have chosen Apple Inc.

Explanation:

Apple Inc is a tech giant and manufactures innovative and most differentiated telecommunication products, music products, computer products, application services, etc which is highly valued among its customers. That's the reason why Apple is one of the most highly valued company in the world with almost $137 billion cash balance. This cash balance has been increased by $20 billion in the last three years which shows its higher profitability and that its inventory is highly liquid asset because it is quickly converted into cash. Furthermore, the greater demand of product and customer loyalty has strengthen its position all because of unmatched innovation introduced in each of its product every year. The greater cash balance shows that the company has greater sales and has higher profit margin on its unmatched product.

The picture of Apple headquarter and of its logo are given below:

6 0
3 years ago
Which of the following are correct descriptions of large corporations? (You may select more than one answer. Single click the bo
erik [133]

Answer:

  • The corporation survives even if managers are dismissed.
  • Shareholders can sell their holdings without disrupting the business.

Explanation:

Large corporations are not as easy to dissolve as other types of companies because they have other resources that are able to keep them going if they lose some. One of those resources could be a manager. Should a manager be dismissed, the corporation will survive and simply replaced the dismissed manager.

Also with such corporations, the shareholders can simply sell their shares and the business's operation will not be disrupted as the shareholders do not have any direct say over the day to day running of the business.

4 0
3 years ago
Farley Inc. has perpetual preferred stock outstanding that sells for $30 a share and pays a dividend of $4.00 at the end of each
nikklg [1K]

Answer:

the required rate of return i r=0.13%

Explanation:

In order to calculate the required rate of interest in the case of a perpetual preferred stock we will use the following formula:

P(p) = D(p) / r

where P(p) is the preferred price of the stock, D(p) is the preferred dividend price and r is the required rate of interest.

This gives us the following values:

30 = 4 / r

r = 4 / 30

r = 0.13%

4 0
3 years ago
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