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ivann1987 [24]
3 years ago
15

On April 15, 2012, Andy purchased some furniture and fixtures (7-year property) for $10,000 to be used in his business. He did n

ot elect to expense the equipment under Section 179 or bonus depreciation. On June 30, 2020, he sells the equipment. What is the cost recovery deduction for 2020
Business
1 answer:
jenyasd209 [6]3 years ago
8 0

Answer:

$874.50

Explanation:

Calculation to determine the cost recovery deduction for 2020

2020 cost recovery deduction = $10,000 × 17.49% × ½

2020 cost recovery deduction = $874.50

Therefore the cost recovery deduction for 2020 is $874.50

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Explain a situation where user would transpose data on a spreadsheet in Microsoft Excel. Give at least one example to illustrate
GuDViN [60]

Answer:

You can do this by copying, pasting, and using the Transpose option. But doing that creates duplicated data. If you don't want that, you can type a formula instead using the TRANSPOSE function. For example, in the following picture the formula =TRANSPOSE(A1:B4) takes the cells A1 through B4 and arranges them horizontally.

Step 1: Select blank cells

First select some blank cells. But make sure to select the same number of cells as the original set of cells, but in the other direction. For example, there are 8 cells here that are arranged vertically:

Cells in A1:B4

So, we need to select eight horizontal cells, like this:

Cells A6:D7 selected

This is where the new, transposed cells will end up.

Step 2: Type =TRANSPOSE(

With those blank cells still selected, type: =TRANSPOSE(

Excel will look similar to this:

=TRANSPOSE(

Notice that the eight cells are still selected even though we have started typing a formula.

Step 3: Type the range of the original cells.

Now type the range of the cells you want to transpose. In this example, we want to transpose cells from A1 to B4. So the formula for this example would be: =TRANSPOSE(A1:B4) -- but don't press ENTER yet! Just stop typing, and go to the next step.

Excel will look similar to this:

=TRANSPOSE(A1:B4)

Step 4: Finally, press CTRL+SHIFT+ENTER

Now press CTRL+SHIFT+ENTER. Why? Because the TRANSPOSE function is only used in array formulas, and that's how you finish an array formula. An array formula, in short, is a formula that gets applied to more than one cell. Because you selected more than one cell in step 1 (you did, didn't you?), the formula will get applied to more than one cell. Here's the result after pressing CTRL+SHIFT+ENTER:

6 0
2 years ago
The lifo cost flow assumption assumes that the cost of items purchased ______ are the costs that will be transferred first to co
kkurt [141]
Answer:
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3 0
2 years ago
Internal control can provide only reasonable assurance that the entity’s objectives and goals will be met efficiently and effect
Strike441 [17]

Answer: The correct answer is "the cost of internal control should not exceed its benefits"

Explanation: One factor limiting the likelihood of achieving those objectives is that the cost of internal control should not exceed its benefits. The cost of performing an internal control should never exceed the benefits that this may have as a result, since in that case its performance would be uneconomical.

3 0
3 years ago
During the direst part of the Great Depression, approximately ______ percent of the nation's workers was unemployed.
vova2212 [387]
29.4 percent of workers
7 0
2 years ago
The appropriate section in the statement of cash flows for reporting the issuance of common stock for cash is: a. Operating acti
Yuri [45]

Answer:

b. Financing activities.

Explanation:In the financial activities section of the statement of cash flows, the operations related to the entry and exit of funds for activities that increase the liability or stockholders´equity, but that do not make the main activity of the company must be recorded. Such as:  issuance of common stock for cash.

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3 years ago
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