1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Irina-Kira [14]
2 years ago
9

Beth's business purchased only one asset during the current year (a full 12-month tax year). Beth placed in service machinery (7

-year property) on December 1 with a basis of $50,000. Calculate the maximum depreciation expense (ignoring §179 and bonus depreciation).

Business
1 answer:
nalin [4]2 years ago
4 0

Answer:

the depreciation expense on the equipment will be 1,785 for tax purpose.

Explanation:

We will look into the MACRS (Modified Accelerated Cost Recovery System)

table for a property of seven years placen into service in the 4th quarter:

Which give us 3.57%

now we multiply the basis by the coefficient and get the value for depreciation

50,000 x 3.57% = 1,785 depreciation expense under MACRS

You might be interested in
Recent financial statement data for Harmony Health Foods (HHF) Inc. is shown below. Current liabilities $ 180 Income before inte
Anarel [89]

Answer:

B. 75%.

Explanation:

The formula to compute the long-term debt to equity ratio is shown below:

= (Long term debt) ÷ (total shareholder equity) × 100

= ($360 ÷ $480) × 100

= 75%

All other information which is given in the question is not consider for the computation part. Hence, ignored it

We simply divide the long term debt with the total shareholder equity to find out the ratio between them

3 0
3 years ago
The restaurant sector continues to grow despite the hurting economy.<br><br> O True<br><br> O False
Mkey [24]

Answer:

True.

Explanation:

^^

5 0
2 years ago
Explain how a person can use technology wisely​
oksano4ka [1.4K]
Making money off of it
5 0
2 years ago
A single man lived in his residence for 3 years, sold it for a gain of 185000 he is 58 years old when preparing his tax return h
svlad2 [7]
File form 6239 for a reduced rate.
8 0
2 years ago
The accountant for Walter Company is preparing the company's statement of cash flows for the fiscal year just ended. The followi
lapo4ka [179]

Answer:

$25,400

Explanation:

Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.

The movement in the retained earnings balance may be expressed as

Opening balance + net income - cash dividend paid = closing retained earnings balance

Cash dividend declared - Cash dividend paid =  Cash dividend payable

$49,000 - Cash dividend paid = $23,600

Cash dividend paid = $49,000 - $23,600

= $25,400

6 0
3 years ago
Other questions:
  • Suppose the herfindahl indexes for industries a, b, and c are 7,200, 5,000, and 1,500, respectively. these data imply multiple c
    15·1 answer
  • Which of the following accounts could be found in the general ledger of a partnership?Income Tax Expense Interest Expense on Par
    8·1 answer
  • Which is not one of the pressing issues facing the future of delinquency prevention?
    11·1 answer
  • _____ occurs when investors earn interest in the current time period on interest earned in previous time periods.
    5·1 answer
  • Ford motor company sells the fusion ses for $24,400. the fusion hybrid sells for $29,975. what is the percentage increase in pri
    14·2 answers
  • Which of these approaches will NOT accelerate the completion of a project? Group of answer choices Increase the bureaucratic ove
    14·1 answer
  • You can save up money to pay for the computer later, or you can use a credit card to pay for it now.
    14·2 answers
  • A ___ warranty promises replacement or refund for defective products.
    12·1 answer
  • The focus of Performance Based Logistics (PBL) is to leverage best practices of both Government and Industry.
    14·1 answer
  • you just saw a video advertisement that shows an interview with a celebrity who says her life changed for the better when she st
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!