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Art [367]
3 years ago
5

Cork Oak Corporation purchased a heavy-duty truck (not considered a passenger automobile for purposes of the listed property and

luxury automobile limitations) on May 1, 2018 for use in its business. The truck, with a cost basis of $24,000, has a 5-year estimated life. It also is 5-year recovery property. How much depreciation should be taken on the truck for the 2018 calendar tax year using the conventional (for financial accounting purposes) straight-line depreciation method?
Business
1 answer:
never [62]3 years ago
6 0

Answer: Cost of truck / expected useful life= 24,000 / (5 year × 12 months)= 400 dollar per month 400×8= 3200 dollar

Explanation:

Considering no salvage value of the truck at the end of the 5-year period and need for 8 month period of depreciation (from May 1 till the end of the year) we use formula of straight line method: Cost of truck / expected useful life= 24,000 / (5 year × 12 months)= 400 dollar per month. And in order to find taken accumulated depreciation for 8 months of 2018: 400×8= 3200 dollar. At the end of 2018 we should write off 3200 dollar from the value of truck.

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Analyze a local space that is open to the public. It can be a store or mall, a club, restaurant, or a school (like COC), perhaps
enyata [817]

Answer:

Local spaces open for public to help them with social activities. Parks, gyms, store, mall and clubs are some of local spaces which are open to everyone for gaining relaxation in their leisure time.

Explanation:

People are busy in weekdays and they need some place for relaxation on weekend. There are many places which provide with recreational activities for people to relax and spend their weekends with their family.

7 0
3 years ago
A firm is considering the acquisition of a new machine. The base price is $85,000 and it would cost $15,000 to install. The mach
Naddik [55]

Answer:

Cash flow year 0   (110,000)

or in other way to express it: a cashoutflow for $110,000

Explanation:

Initial net cahs outflow

this will be the acquisition of the machine cost plus the increase in the working capital for the company

machine cost: all cost necessary for acquire the machien and get it operational

supplier list price        85,000

installation cost       <u>    15,000</u>

total cost                     100,000

Increase in Working Capital Cost 10,000

As these are cost they are negative so we have a cashouflow

Total cashflow    (110,000)

4 0
3 years ago
Altonland Inc., a pharmaceutical company based in the United States, generally appoints a U.S. national as the head of its forei
In-s [12.5K]

Answer: The correct answer is "the informal rules of the game".

Explanation: The given scenario illustrates <u>the informal rules of the game.</u>

<u>Because despite not being an official standard, it is an informal rule that the company tends to follow because it gives good results, and is backed by the organizational culture of the company.</u>

7 0
3 years ago
How many dams, not including the two dams placemarked in the dams folder, impound the colorado river between glen canyon and lak
dolphi86 [110]

Two dams, not including the two dams placemarked in the dams folder, impound the colorado river between glen canyon and lake havasu.

Humans build dams to control water—to make sure the right quantity is on the right region on the right time. River water rises in the back of dams, forming artificial lakes referred to as reservoirs. The saved water may be used to generate electricity or to deliver water for houses and industries, for irrigation or for navigation.

The cause of a dam is to impound (keep) water, wastewater or liquid borne materials for any of numerous motives, which includes flood control, human water deliver, irrigation, livestock water supply, energy technology, containment of mine tailings, pastime, or pollutants manage.

A dam is a structure constructed throughout a river or circulate to keep lower back water. humans have used one of a kind substances to build dams over the centuries.

Learn more about dams here

brainly.com/question/17294627

#SPJ4

6 0
2 years ago
Michelle operates a food truck. Indicate the amount (if any) that she can deduct as an ordinary and necessary business deduction
Snezhnost [94]

Answer:

A. $80

B. $795

C. $0

Explanation:

Only expenses that can be directly attributed to the business are deductible.

Personal expenses will not be deductible.

A. Here the only deductible amount is the legal fees of $80. The speeding will not be charged to the business because it was as a result of personal negligence. The legal fees affect the business because the speeding related to a business asset.

B. Only the amount paid to reserve a spot will be deductible because it relates to expenses for the business to make profit. The money she spent on her children is a personal expense.

C. There is no deductible here. These activities were of a personal nature and in no way related to the operations of the business of operating the food truck.

6 0
3 years ago
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