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3 years ago

To qualify for the moving expense deduction, an employee must change job sites, move a required distance, and change employers.

1 answer:

6 0

The answer is false. Employees must wait for the employer's instruction. If the employer require's you to move to another site or assign you to different branch, it is your time to qualify for the moving expense.

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On March 1, Squire Company purchased a new stamping machine with a list price of $24,000. The company paid cash for the machine;

Nikitich [7]

Answer:

C. $25,960

Explanation:

Cost of asset includes all the cost involved to acquire and install the asset. In simple term all the costs that are necessary to make the asset usable are capitalised and added to the cost of the asset.

In this question stamping machine has following cost which need to be capitalised.

Discounted Price = $24,000 x ( 100% - 3% ) = $24,000 x 97% = $23,280

Transportation cost = $550

Sales Tax = $1,680

Installation cost = $450

Total cost to be capitalized = $23,280 + $550 + $1,680 + $450 = $25,960

Routine Maintenance cost is the routine / period cost which incur every month, It is not necessary to make the asset usable and it is incurred after the asset is used.

5 0

3 years ago

Read 2 more answers

Foster, who owns a successful business with two locations and a few international clients, was approached by a large organizatio

torisob [31]

Answer:

C) can get started more easily and maneuver faster

Explanation:

A small business (sole proprietorship, partnership, limited liability company) can maneuver much faster than any corporation simply because the owners are the managers of the business. The owners do not have to ask anyone for permission to make any decisions or decide new business activities. Also, last but not least, you are your own boss, and that is priceless.

Small businesses are also much easier to set up and do not require a lot of paperwork and authorizations to start operating.

3 0

4 years ago

Determine the market potential for a backpack that has 200,000 prospective buyers who purchase an average of 2 backpack per year

LekaFEV [45]

Answer:

i.The total number of a company sell if it desires a 10% share of this market? is 40,000 units

ii. The % of the market supplies that should capture to break even is 5%

Explanation:

To calculate break even point in unit, use the formula;

Fixed Cost / Contribution Margin.

In this question, Fixed cost is the factory lease cost of one year for $400,000

Contribution margin is the difference betwen Selling Price and Variable Cost.

This will be $50-$30=$20

Therefore, Break even point in unit = $400,000 divided by $20

this will give 20,000 units.

20,000 units is 5% of the market size of (200,000X2) 400,000 units.

I.e. (20,000/400,000)X100=5%

8 0

3 years ago

Barrington Mills Manufactures denim cloth from two primary raw materials, cotton and dye. Work-in-process includes lapped cotton

8_murik_8 [283]

Answer:

weeks of supply 2,7122857

Explanation:

17,500,000 / 50 weeks = 350,000 COGS per week

current finished inventory:

250 x $ 65 = 16,250

190 x $ 80 = 15,200

310 x $ 105 = 32,550

Total 64,000

cost added:

70,000 materials x $ 2.75

125,000 materials x $ 5.00

total 817500

WIP:

2,000 rolls x $ 10.50

5,000 spools x $ 6.75

500 rolls x $ 26.10

total $ 67,800

Total inventory: 817,500 + 67,800 + 64,000 = 949300

week of supply:

inventory of 949300

and 350,000 goods are consumer per week

week: 2,7122857

3 0

3 years ago

Other things remaining equal, the law of demand says that higher prices will lead to a A. smaller quantity demanded and lower p

Yuri [45]

Answer:

The answer is A.

Explanation:

Other things remaining equal, the law of demand says that the higher the price, the lower the quantity demanded and the lower the price the higher the quantity demanded.

Suppose a good is being sold at $5 and 20 quantities are being demanded, if the price increases to $6, lesser of that goods should be demanded

7 0

4 years ago