Answer:
It will deduct up to 5,600 with any method as it cannot deduct above her current taxable income.
The rest of the cost will be aplpied into subsequent tax periods.
Explanation:
The S179 deduction can only be done up to a taxaable income of zero
Therefore, as McKenzie taxable income is $5,600 it will deduct as much as that. Leaving the rest of the depreciation for further years.
212,000 - 5.600 = 206.400
ITIL considers the service desk responsible for handling service requests and communications with customers.
Communication (from Latin: communicate, meaning "to share" or "to associate is defined as "the self and the other, the private and the public, the inner thoughts and [4] this As the definition suggests, communication is difficult to define in a uniform way because in general terms
communication refers to a very wide range of different actions involved in the dissemination of information. [7] John Peters argues that the difficulty in defining communication is that it is both a universal phenomenon (because everyone communicates) and a specific field of systematic academic research. claim to be based on facts.
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Answer:
Expenses will be understated, hence, Net Income will be overstated.
Rent prepaid will be overstated, hence, current assets will be overstated.
Explanation:
Ordinarily, rent prepaid is meant to be credited every month to the tune of the the value that has been consumed and then added to period expenses to reduce net income.
In the statement of Financial Position, the same amount that has been consumed should be used to reduce balance in rent prepaid account, otherwise, current assets will be overstated if no adjustment is made.
Answer:
Rachel's net cash flows from operating activities is $258,500
Explanation:
Rachel Cash flow from Operating activities
Particulars Amount
Net Income $240,000
+ Increase in Account Payable +$13,000
(Ending balance - Beginning balance)
30,000-17,000= 13,000
-Decrease in Account receivable +$5500
(Ending balance - Beginning balance)
11,500-17,000= -5500
Cash flow from operating activities $258,500
Therefore, the cash flow from operating activities is $258,500