Answer: $8025
Explanation:
From the information given, first and foremost, we need to realise that only the building in this case will be depreciated due to the fact that land is considered to be a non depreciable asset.
Therefore, the MACRS depreciation charge for year 1 will then be:
= MACRS rate × Value of Building
= 1.605% × $500,000
= 0.01605 × $500,000
= $8025
Answer:
$9,555
Explanation:
As for the trend provided, the year 3 Sales will also be $40,000
Cost of goods sold will be $25,000
gross margin = $15,000
Operating expenses are decreasing with time by 
Thus, it will decrease with the same trend = $7,000 - 22.22% = $5,445
Rounded off
Therefore, net income = $15,000 - $5,445 = $9,555
Note: Gain on sale of land is one time event and not permanent, thus it will not be considered as part of trend.
When an employee works in year 1 but is paid in year 2, the company must recognize an expense in years 1 only.
An expense is the monetary value of tasks that an organization causes to create income. As the well-known saying goes, "it costs cash to bring in cash.
Normal expenses incorporate installments to providers, worker compensation, manufacturing plant leases, and hardware devaluation.
Organizations are permitted to discount charge deductible costs on their annual government forms to bring down their available pay and hence their assessment obligation.
To learn more about Expenses.
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Answer:
The answer is "Option D, F, E, B, A, and C".
Explanation:
please find the complete question in the attached file.
Please find the choice order in the attached file.
$125 paid with one week invoice 300 for a customer's docking dog
Answer:
The amount credited to common stock upon conversion of the bonds is $101000
Explanation:
When the bond was issued there would been a debit of $102000($100000*$102/$100) to cash account and credit of $102000 to liabilities split into $100000 bonds payable and $2000 bond premium.
However, on conversion to common stock with premium of $1000 outstanding in the books,the amount to be credited into common stock account is the issue value less outstanding premium.
The amount credited to common stock=$102000-$1000=$101000
This can be shown with entries below:
Dr Bond payable $100000
Dr Bond premium $1000
Cr Common stock $101000
