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lbvjy [14]
3 years ago
7

In 2020, Ensley drove her automobile 28,500 miles. She incurred the following expenses during the year related to the automobile

: Gas and oil, lubrication: $1,800 Insurance: $980 Repairs: $360 Licenses and registration fees: $50 Business parking and tolls: $170 She uses the automobile 80% for business. Based on the data, Ensley's automobile deduction under the actual cost method is $fill in the blank 1.
Business
1 answer:
JulsSmile [24]3 years ago
4 0

Answer: $2722

Explanation:

Ensley's automobile deduction under the actual cost method is calculated below:

Gas and oil = $1800

Add: Insurance = $980

Add: Repairs = $360

Add: Licenses and registration fees = $50

Total Expenses = $3190

We then calculate the business usage which will be:

= 80% of $3190

= 0.8 × $3190

= $2552

We then add the cost of business parking and tolls, then the total deduction will be:

= $2552 + $170

= $2722

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2 years ago
Gentry Inc. purchased 90% of Gaspard Farms on January 5, 2019. During 2019, Gentry sold Gaspard Farms for $650,000 goods which h
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$5572500

Explanation:

consolidated cost of goods sold for 2020 would be:

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3 years ago
Suppose Latasha comes into a large sum of money and decides to lend it out to earn interest on it. She realizes, however, that e
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moral hazard

Explanation:

Banks reduce the risk of moral hazard when they monitor and supervise how their clients are using the loans and credits made to them.

Some types of credits do not require any type of monitoring or control, e.g. a credit card which a client can use basically however he/she wants to. But other types of credit that are taken for purchasing assets, e.g. a mortgage, must be used by the bank's client to specifically carryout the intended activity.

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3 years ago
Cochrane Associate's net sales last year were $525 million. If sales grow at 7.5% per year, how large (in millions) will they be
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Answer:

The correct answer is C.

Explanation:

Giving the following information:

Cochrane Associate's net sales last year were $525 million. If sales grow at 7.5% per year, how large (in millions) will they be 8 years later?

We need to use the following formula:

FV= PV*(1+i)^n

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FV= $936.33

3 0
2 years ago
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