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11Alexandr11 [23.1K]
3 years ago
12

On November 15, 2018, X Corp., an accrual basis taxpayer, enters into a contract which will provide the corporation with the use

of manufacturing equipment for the 5 year period beginning on December 1, 2018. X Corp. paid $100,000 for the 5-year period on December 1, 2018. How much, if any of the payment can X Corp. deduct in 2018
Business
1 answer:
Lady bird [3.3K]3 years ago
6 0

Answer: $20000

Explanation:

Since $100,000 is paid for the contract which will provide the use of manufacturing equipment for 5 years, the payment that can be deducted for each of the 5 years will be an equal payment.

Therefore, the payment that X Corp. can deduct in 2018 will be:

= $100,000 / 5

= $20000

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In much of the United States and Canada, logging takes place in both privately owned and government-owned forests. a. Privately
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Answer:

A.) private, nonrival, and excludable

B.) Common resources

C. Faster

Explanation:

A. A privately owned forest is a private good. This goods ownership is restricted to those that bought it. No one else shares in the use of this good. Therefore the answer here is that it is private, non rival and also excludable.

B. If anyone is able to enter a government forest legally it means it is a common good. Common goods are goods with rivalry but are non excludable.

C. The rate of logging in a government owned forest would be faster since there is little cost to cutting the trees, especially when there is no regulation.

4 0
2 years ago
At a price of $1.00, a local coffee shop is willing to supply 100 cinnamon rolls per day. At a price of $1.20, the coffee shop w
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Answer:

2.2

Explanation:

The formula for calculating price elasticity using the midpoint method is:

midpoint method = {(Q2 - Q1) / [(Q2 + Q1) / 2]} / {(P2 - P1) / [(P2 + P1) / 2]}

midpoint method = {(150 - 100) / [(150 + 100) / 2]} / {(1.20 - 1) / [(1.20 + 1) / 2]}

midpoint method = [50 / (250 / 2)] / [0.20 / (2.20 / 2)] = (50 / 125) / (0.20 / 1.1)  

midpoint method = 0.4 / 0.19 = 2.2

The advantage of using the midpoint method to calculate price elasticity is that we can calculate the price elasticity between two points, and it doesn't matter if the price increases or decreases.

If we calculate price elasticity using the single point formula:

price elasticity = % change in quantity supplied / % change in price = 50% / 20% = 2.5

7 0
3 years ago
So what is economics?
pishuonlain [190]

Answer: Economics is the study of how society uses its limited resources. Economics is a social science that deals with the production, distribution, and consumption of goods and services.

Explanation:

6 0
3 years ago
Read 2 more answers
The industry-low, industry-average, and industry-high benchmarks on pp. 6-7 of each issue of the Camera
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These are worth careful scrutiny by the managers of all companies because when a company's costs for one or more of the cost benchmarks are deemed "out-of-line," managers need to initiate corrective actions in the next decision round.  only have value to the managers of companies whose costs are below the industry averages.

<h3>What do you mean by industry?</h3>

An industry is a group of companies that are related based on their primary business activities.

In modern economies, there are dozens of industry classifications. Industry classifications are typically grouped into larger categories called sectors.

<h3>What are the 4 types of industry?</h3>

There are four types of industry, namely primary, secondary, tertiary and quaternary.

Primary industries involve the activities related to extraction and processing of natural resources, such as agriculture, mining, fishing, etc.

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8 0
1 year ago
Speedy Package is California's largest express transportation company. In addition to the largest fleet of all-cargo aircraft in
tia_tia [17]

Answer:

Date    General Journal                         Debit       Credit

            Cash                                         $15,400

            Accumulated Depreciation    $39,600

                    Equipment - Delivery truck              $55,000

           (Assuming the truck was sold for $15,400 cash)

            Cash                                         $16,500

            Accumulated Depreciation     $39,600

                     Gain on sale                                      $1,100

                     Equipment - Delivery truck              $55,000

            (Assuming the truck was sold for $16,500 cash)

            Cash                                          $12,700

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             (Assuming the truck was sold for $12,700 cash)

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