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3 years ago

Cora purchased a hotel building on May 17,.2018, for $3,000,000. Determine the cost recovery deduction for 2019.

Business

1 answer:

Ostrovityanka [42]3 years ago

7 0

Answer:

d. $76,920

Explanation:

Calculation to Determine the cost recovery deduction for 2019

Based on the information given we were told that they purchased a hotel building on May 2018 for the amount of $3,000,000 which means that to calculate the cost recovery deduction for 2019 we would be using 2.563 to multiply the cost of purchasing the hotel reason been that hotel building is a non residential property.

Hence,

Cost recovery deduction=2.563* $3,000,000

Cost recovery deduction=$76,920

Therefore the Cost recovery deduction will be $76,920

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Bain corp. owned 20,000 common shares of tell corp., purchased in year 1 for $180,000. on december 15, year 5, bain declared a p

amid [387]

Answer:

$300,000

Explanation:

Although the property dividend was distributed on January 15, year 6. the amount that will be used is the value of the shares as at the declaration date and not the distribution date

Hence, since the aggregate market price of the tell shares held by bain was $300,000. on the declaration date, the entry to record the declaration of the dividend should include a debit to retained earnings (or property dividends declared) of $300,000

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3 years ago

What is word of mouth promotion?

Colt1911 [192]

Answer:

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Explanation:

Word of mouth promotion is considered as an important advertising technique that helps to increase customers and attract more on the way. When customers are happy, they will steer dozens of other people, and this is how word of mouth works. According to a study, 28% of people consider word of mouth as an important marketing strategy.

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3 years ago

Select all the choices that decision makers could use marginal analysis for to make effective decisions.

mylen [45]

Adding a machine to the factory and producing another car would be the choices that decision makers could use marginal analysis to make effective decisions.

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3 years ago

Read 2 more answers

Name four reasons for the success of the mongols as conquerors

vagabundo [1.1K]

Here are some of the reasons why the Mongols were so successful as conquerors:
1 they had Genghis Khan - he was a military genius who managed to train his army well and lead them into many battles
2 they were numerous - there were over 10,000 people in the Mongolian army
3 their military strategists were quite crafty - they relied on setting traps and tricking their enemies
4 they used cruelty and fear - everyone was afraid of the Mongols and what they would do to them if they caught them

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4 years ago

You have just retired with savings of $2 million. If you expect to live for 57 years and to earn 7% a year on your savings, how

galben [10]

Answer:

Annual withdraw= $143,023.66

Explanation:

Giving the following information:

Present value (PV)= $2,000,000

Number of periods (n)= 57

Interest rate (i)= 7% a year

To calculate the annual withdrawal, we need to use the following formula:

Annual withdraw= (PV*i) / [1 - (1+i)^(-n)]

Annual withdraw= (2,000,000*0.07) / [1 - (1.07^-57)]

Annual withdraw= $143,023.66

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3 years ago