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Luda [366]
3 years ago
13

Ayayai Company has an old factory machine that cost $63,000. The machine has accumulated depreciation of $35,280. Ayayai has dec

ided to sell the machine. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Business
1 answer:
Julli [10]3 years ago
8 0

Ayayai Company has an old factory machine that cost $63,000. The machine has accumulated depreciation of $35,280. Ayayai has decided to sell the machine. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

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In terms of the tax formula applicable to individual taxpayers, which of the following statements, if any, is correct?
creativ13 [48]

Answer:

The correct answer is a. In arriving at taxable income, a taxpayer must choose between the standard deduction and itemized deductions.  

Explanation:

In tax law, the tax base is the magnitude that results from the measurement of the taxable event. It is defined as the dimension or magnitude of an element of the objective budget of the taxable event that is judged as determining the relative contributory capacity.

In tax legal relations, the taxable event shows the existence of an economic capacity in the subjects, but for the tax to be applied, this fact must be assessed in some way, usually in monetary units.

The tax base is ultimately the magnitude that is used in each tax to measure the economic capacity of the subject, such that it is reflected in ceilings.

7 0
3 years ago
The widespread use of mobile devices such as tablets has resulted in employees bringing their own devices into the workplace and
Marta_Voda [28]

The answer to this question is Bring Your Own Device or also known as (BYOT).

<span>Bring your own device is allowing employees or workers to bring their own gadgets like laptop, tablets, mobile phones (smart phones) in the work area to be used at work and connect to the company network, internet, and office applications while working. The benefits of this policy are that it can lower the cost of the company to purchase computers and it also can increase productivity of employees. </span>
7 0
3 years ago
Clothing boutiques and specialty shops often start because there is a need for a particular product but large retailers like wal
finlep [7]

The best way to describe how that idea was recognized is <u>"finding a gap in the marketplace".</u>


Numerous organizations need to find the gap in the market. The gap in the market is a particular region. A zone where you can command. A region where are little conceivable outcomes for another person to surpass your mastery. On the off chance that you prevail to discover a specialty where you are the just a single, at that point it is extraordinary for your enterprising profession. But, likewise it is extraordinary on the off chance that you can discover a space where you will be the one of a kind player in an established  market. The market where competition  is low.

7 0
3 years ago
On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees
Nostrana [21]

Answer:

Jan 15

Dr Salaries expense 30,000

Cr FICA - Social sec taxes payable 1,860

Cr FICA - medicare taxes payable 435

Cr Employee medical insurance payable 484

Cr Employee union dues payable 260

Cr Salaries payable 23,961

Cr Federal income taxes payable 3,000

Explanation:

General journal debit credit

Jan 15

Dr Salaries expense 30,000

Cr FICA - Social sec taxes payable (30,000*6.2%) 1,860

Cr FICA - medicare taxes payable

(30,000*1.45%) 435

Cr Employee medical insurance payable 484

Cr Employee union dues payable 260

Cr Salaries payable 23,961

Cr Federal income taxes payable 3,000

8 0
2 years ago
The Foxworthy Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning inv
Bumek [7]

Answer:

$19,192

Explanation:

Foxworthy Corporation before-tax profit/loss using LIFO method will be;

24000 units * $6.00 per unit = $144,000

16808 units * $7.00 per unit = $117,656

In 2018 the inventory quantity declined by 18000 units.

The cost of 18,000 units will be 18,000 * $8.00 per unit = $144,000

16,808 units * $7.00 per unit = $117,656

18,000 units - 16,808 units = 1,192 units

1,192 units * $6.00 per unit = $7,152

Profit/ Loss due to inventory decline :

$144,000 - $117,656 - $7,152 = $19,192.

6 0
3 years ago
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