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Serggg [28]
3 years ago
13

Final Examination Hide or show questions Calculator Problem 9-23 (b) (LO. 2) Ricardo, who is self-employed, uses his automobile

85% for business and during 2019 drove a total of 32,200 business miles. Information regarding his car expenses is listed below. Business parking $345 Auto insurance 2,800 Auto club dues (includes towing service) 275 Toll road charges (business-related) 205 Oil changes and engine tune-ups 180 Repairs 1,890 Depreciation allowable 3,600 Fines for traffic violations (incurred during business use) 95 Gasoline purchases 4,125 What is Ricardo's deduction in 2019 for the use of his car if he uses:
Business
1 answer:
Anna35 [415]3 years ago
5 0

Answer:

Explanation:

a) actual cost method:-

=deductions × percentage

= 345 + 205 + 85% (2800 + 275 + 180 + 1890 +3600 +4125 )

=550 + 10939.5

=11489.5 = 11490

Note :- fines are not taken.

b) automatic mileage method:-

=total number of business miles × standard rate

=32200×0.58 +345+205

=19226

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Answer:

not until the early 19th century were a few countries able to establish sustained long-run economic growth.

Explanation:

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Prior to industrialization, humans and animals were largely used as a means to generate power, execute tasks or do certain things during the production and distribution process.

However, in the advent of industrialization and technological advancement, machines were invented to replace human and animal power.

Some examples of such inanimate sources are Steam plants, Nuclear plants, Wind etc.

In human history, we know that not until the early 19th century were a few countries able to establish sustained long-run economic growth.

3 0
2 years ago
A $22 credit to sales was posted as a $220 credit by what amount is the sales account in error
Elodia [21]
I think i read the question right. I think they would be out $198
5 0
3 years ago
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Frank, the CEO of an American production company, negotiated an opportunity with a television provider in India. After the negot
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Answer:

The contract would be described as <em>International Contract.</em>

Explanation:

<em>International Contracts: </em>International contracts refers to a legally binding agreement between parties based in different countries, in which they are obligated to do or not do certain things. International contracts may be written in a formal way such as the example of Frank contracting an Indian television provider.

Consequently, Frank and the Indian television provider having entered into a contract, are governed by international contract law unless they agree to abide by the laws of one of the US and India.

Moreover, <em>International sales contracts </em>are governed by the <em>United Nations Convention on Contracts for the International Sale of Goods (CISG) from 1980.</em>

8 0
3 years ago
Read 2 more answers
Select the items that describe how business investments can cause economic growth.
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Investments can lead to more demand for goods. Investment means an increase in capital spending and is a component of Aggregate Demand (AD), if there is an increase in investment it will help to boost AD and therefore economic growth.
4 0
3 years ago
Kansas Enterprises purchased equipment for $73,000 on January 1, 2021. The equipment is expected to have a five-year service lif
Margaret [11]

Answer:

Depreciation expense = $13,130

Book value = $46,740

Explanation:

Depreciation is a method of expensing the cost of an asset.

Depreciation expense using the straight line method = (Cost of asset - salvage value) / useful life

($73,000 - $7,350) / 5 = $13,130

The depreciation expense each year would be $13,130.

Book value = Cost of asset - Depreciation expense

In December 2021, the book value would be = $73,000 - $13,130 = $59,870

In December 2022, the book value would be = $59,870 - $13,130 = $46,740

I hope my answer helps you

4 0
3 years ago
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