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ArbitrLikvidat [17]
2 years ago
13

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]2 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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World City: dominant city in terms of its role in the global political economy. Not the world's biggest city in terms of population or industrial output, but rather centers of strategic control of the world economy.

Explanation:

The financial centre, the stock market and large financial institutions can occur. Trade and economic dominance of a large area. Port city and container processing centres. There is tremendous everyday and strategic decision-making capacity.

The World Economic and business Master will give students in Liberal Arts an interdisciplinary guide to the effects of economic globalization as well as the changes it introduces to the global where the US performs its economic and political ties with another country.

5 0
3 years ago
Danny is using the menus for the first time. In six to eight sentences, give Danny directions about what he needs to know about
GenaCL600 [577]

Answer:

The Answer Is B) i just took the test !

4 0
3 years ago
You run a school in Florida. Fixed monthly cost is $5,435.00 for rent and utilities, $6,171.00 is spent in salaries and $1,545.0
umka21 [38]

Answer:

31

Explanation:

The calculation of indifferent between your current mode of operation and the new option is shown below:-

Current Operation

Contribution Margin = Monthly Fees - Variable Cost

= $734.00 - $91.00

= $643.00

Total Fixed Cost = Rent and Utilities + Salaries + Insurance

= $5,435.00 + $6,171.00 + $1,545.00

= $13,151.00

New Operation

Contribution Margin = Monthly Fees - Variable Cost

= $1,054.00 - $158.00

= $896.00

Total Fixed Cost = Rent and Utilities + Salaries + Insurance

= $11,679.00 + $6,974.00 + $2,408.00

= $21,061.00

Here we will assume the indifferent number of students will be X

So,

Income under current option = Income under new option

$643.00 × X - $13,151.00 = $896.00 × X - $21,061.00

$253X = $7,910

X = $7,910 ÷ $253

= 31.26

or

= 31

5 0
3 years ago
Donna and Matthew share an office. Donna was balancing her checkbook when she was called
umka21 [38]

Answer:

yess

Explanation:

8 0
2 years ago
Read 2 more answers
The following is a partial year-end adjusted trial balance. Account Title Debits Credits Sales revenue $ 460,000 Loss on sale of
dalvyx [7]

Answer:

a) Operating Income = $73,000

b) Net income before income tax = $25,500

Explanation:

First part of the question is to determine the operating income or loss of the business

It is calculated as follows

Particulars                                          Amount

Sales Revenue                                  $460,000

Subtract: Cost of goods sold           ($240,000)

General and Administrative exp.       ($56,000)

Restructuring Costs                             ($58,000)

Selling Expenses                                  ($33,000)

Operating Income                             $73,000

Second part is to determine the income or loss before income taxes

Particulars                                            Amount

Operating Income                                 $73,000

Add: Interest Revenue                         $6,500

Deduct:Loss on sales of investment  ($54,000)

Income before Income Tax                  $25,500

Finally, the Net Income or loss after Income tax

$25,500 x .25 = $6,375

7 0
2 years ago
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