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mote1985 [20]
3 years ago
7

Potomac LLC purchased an automobile for $31,200 on August 5, 2020. What is Potomac's depreciation deduction for 2020

Business
1 answer:
morpeh [17]3 years ago
5 0

Answer:

Potomac LLC

Depreciation deduction for 2020 is:

$2,600.

Explanation:

a) Data and Calculations:

August 5, 2020, Purchase of an automobile for $31,200

Depreciation rate = 20% for year 1

Depreciation expense = $31,200 * 20% * 5/12 months

= $2,600

b) Automobiles attract 20% depreciation in the first year.  However, since Potomac LLC purchased the automobile on August 5, 2020, the depreciation expense of $6,240 ($31,200 * 20%) will be prorated for five months, giving an average of $520 per month.  This results to $2,600 ($520 * 5).

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Nielsen PRIZM uses ________ segmentation to classify every U.S. household as one of 66 unique market segments based on the belie
Gemiola [76]

Nielsen PRIZM uses Market Segmentation.  

Explanation:

Market division is the way toward isolating a market of potential clients into gatherings, or sections, in view of various qualities. The fragments made are made out of buyers who will react also to showcasing procedures and who share qualities, for example, comparable interests, needs, or areas.  

Market division makes it simpler for advertisers to customize their promoting efforts.  

By organizing their organization's objective market into divided gatherings, as opposed to focusing on every potential client exclusively, advertisers can be increasingly effective with their time, cash, and different assets than if they were focusing on buyers on an individual level.

Gathering comparable shoppers enables advertisers to target explicit spectators in a financially savvy way.   Market division additionally lessens the danger of a fruitless or ineffectual showcasing effort.

At the point when advertisers separate a market dependent on key attributes and customize their procedures dependent on that data, there is an a lot higher possibility of progress than if they somehow managed to make a conventional battle and attempt to actualize it over all sections.

7 0
3 years ago
Is giving a speech on job specialization for her business class. She will most likely tell the class that one of the reasons for
Eduardwww [97]

Answer:

Answer D.

Explanation:

Job specialization is needed when we want to be sure that specific job is performed by the person who have desired skills. In large organization its needed to structure teams, to assign tasks to people with right skills, to deliver work in efficient way.

3 0
3 years ago
in a class of p student the average mark is n and in another class of q student the average mark is n. calculate the average mar
lesantik [10]

Answer: The average mark is n.

Explanation: The average mark is a average of averages. The average mark of class of p student is n, and q student is n, so n+n/2= 2n/2=n.

4 0
3 years ago
Nidal Company reported inventory in the 2020 year-end balance sheet, using the FIFO method, as $185,000. In 2021, the company de
Ksenya-84 [330]

Answer:

Dr Retained earnings $14,000

Cr Inventory $14,000

Explanation:

There is a need to make adjustment to the inventory . Therefore,

Adjusted inventory

= New method of $171,000 - Old method of $185,000

= $14,000 decrease

It is to be noted that a lower inventory will have high costs associated with goods sold hence reduces profit/net income for the previous year by $14,000.

Also, the net income reports to retained earnings account hence decreases retained earnings.

Having made the above adjustment, we can assume that the average cost method was used for 2020 books.

3 0
3 years ago
Read 2 more answers
Variable costs as a percentage of sales for Lemon Inc. are 71%, current sales are $551,000, and fixed costs are $207,000. How mu
MAVERICK [17]

Answer: a.$10,904 increase

Explanation:

Operating income before sales increase:

= Sales - Variable costs - Fixed costs

= 551,000 - (71% * 551,000) - 207,000

= -$47,210

Operating income after sales increase:

Sales increases to:

= 551,000 + 37,600

= $588,600

= 588,600 - (71% * 588,600) - 207,000

= -$36,306

Difference:

= -47,210 - (-36,306)

= Increase of $10,904

7 0
3 years ago
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