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N76 [4]
3 years ago
11

On May 31​, 2018​, Option Landscapes discarded equipment that had a cost of $ 29 comma 100. Accumulated Depreciation as of Decem

ber ​31, 2017​, was $ 27 comma 000. Assume annual depreciation on the equipment is $ 2 comma 100. Journalize the​ partial-year depreciation expense and disposal of the equipment.
Business
1 answer:
densk [106]3 years ago
6 0

Answer:

depreciation expense 525

accumulated depreciation equipment 525

to record depreciation from jan 1st to March 31th

loss on dispossal                      1,575

acc depreciation equipment 27,525

                   equipment                          29,100

to record loss on dispossal of equipment

Explanation:

January 1st to march 31th = 3 months

months per year = 12

annual depreciation x 3/12 = partial depreciation

2,100 x 3/12 = 525

equipment         29,100

acc depreciation

27,000 + 525 = (27,525)

book value           1,575

salvage                       0

loss                       (1,575)

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6 0
3 years ago
David and Lilly Fernandez have determined their tax liability on their joint tax return to be $1,700. They have made prepayments
Snowcat [4.5K]

Answer:

-$1,800

Explanation:

Given that

Tax liability = $1,700

Prepayment made = $1,500

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The computation of tax refund is given below:-

= Tax liability - (Prepayment made + Child tax credit)

= $1,700 - ($1,500 + $2,000)

= $1700 - $3500

= -$1,800

Therefore, from the above calculation simply we subtract tax liability from prepayment and child tax credit.

3 0
3 years ago
Why the companies need to extend their product life cycle?
just olya [345]

Answer:

because of the product and the correct one is the one of the product is not working properly

8 0
2 years ago
In 2019, Jonathan pays real estate taxes of $18,000 and New York State income taxes of $17,000. Assuming he itemizes, what deduc
-Dominant- [34]

Answer: $28,000

Explanation:

Jonathan can deduct both the real estate taxes and the state income taxes but the Tax Cuts and Jobs Act cut the deduction one can claim on State and Local taxes to $10,000 from 2018 to 2025.

The total deduction Jonathan can claim is therefore:

= Real estate taxes + Capped state income tax

= 18,000 + 10,000

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6 0
3 years ago
One of the three economic questions deals with deciding what goods and services should be produced. what the costs of production
abruzzese [7]

Answer:

The correct answer is What Goods and Services should be produced.

Explanation:

The problem ‘what to produce’ can be divided into two related questions. First, which goods are to be produced and which not; and second, in what quantities those goods, which the economy has decided to produce, are to be produced. If productive resources were unlimited we could produce as many numbers of goods as we liked and, therefore, the question “What goods to be produced and what not” would not have arisen. But because resources are in fact scarce relative to human wants, an economy must choose among different alternative collections of goods and services that it should produce.

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The choice between consumer goods and capital goods involves the choice between the present and the future. If the society decides to produce more capital goods, some resources will have to be taken away from the production of consumer goods and. therefore, the production of consumer goods would have to be cut down. But greater amount of capital goods would make possible the production of larger quantities of consumer goods in the future. Thus, we see that some current consumption has to be sacrificed for the sake of more consumption in the future.

6 0
3 years ago
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