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ser-zykov [4K]
2 years ago
6

This year Amy purchased $2,000 of equipment for use in her business.However, the machine was damaged in a traffic accident while

Amy was transporting the equipment to her business.Note that because Amy did not place the equipment into service during the year, she does not claim any depreciation expense for the equipment.
a. After the accident, Amy had the choice of repairing the equipment for $1,800 or selling the equipment to a junk shop for $300.Amy sold the equipment.What amount can Amy deduct for the loss of the equipment?
b. After the accident, Amy repaired the equipment for $800.What amount can Amy deduct for the loss of the equipment?
c. After the accident, Amy could not replace the equipment so she had the equipment repaired for $2,300.What amount can Amy deduct for the loss of the equipment?
Business
1 answer:
Otrada [13]2 years ago
5 0

Answer:

a. After the accident, Amy had the choice of repairing the equipment for $1,800 or selling the equipment to a junk shop for $300.Amy sold the equipment.What amount can Amy deduct for the loss of the equipment?

Amy can deduct $2,000 - $300 = $1,700 as casualty loss. Casualty losses occur due to unexpected and sudden events that damage or destroy assets.

b. After the accident, Amy repaired the equipment for $800.What amount can Amy deduct for the loss of the equipment?

Amy can deduct $1,800 as casualty loss. She can deduct the lesser between the asset cost and the cost or repairing it.

c. After the accident, Amy could not replace the equipment so she had the equipment repaired for $2,300.What amount can Amy deduct for the loss of the equipment?

Amy can deduct $2,000 as casualty loss. She can deduct the lesser between the asset cost and the cost or repairing it.

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Suppose Czech businessmen began purchasing American properties. How would this impact the foreign exchange market for the koruna
Yanka [14]

Answer:

B. Appreciate / Depreciate / Decrease

Explanation:

If the businessmen want to purchase some American Properties them will need to exchange the Koruna by the Dollar, it means Sell Koruna to buy dollar,which is,  increase the Koruna supply and increase the demand by dollars.

It exchange will appreciate the dollar value because of an increase in the Dollar demand as the supply keeps at the same level.

While the Czech Koruna will see its price decrease because of the increase in the supply of Koruna while the demand of Koruna keeps at the same level,

In the meantime, the American Export see their market negatively affected by the increase in the dollar price, as the dollar increase its value and will be more difficult to the Americens sell their products to the rest of the world, because others countries need more money for each dollar.

4 0
3 years ago
Which of the following is consistent with the law of​ supply? A. The state of Washington has less apple regulation than Californ
GuDViN [60]

Answer:

D) A doubling of the price of salt led to 5 percent drop in the quantity of salt purchased.

Explanation:

Law of supply in economics says that when the price increases the supply too increases if other factors is is constant.

Therefore, among the given options the only option that is consistent with the law of​ supply is "A doubling of the price of salt led to a 5 percent drop in the quantity of salt purchased"

4 0
2 years ago
In some cases, individuals who start a business have special voting rights that help them exercise more control over the firm. T
Olin [163]

individuals that have special voting rights owns a special class of stock called classified stock.

The classified stock refers to class of common stock that comes with special privileges like dividend rights or enhanced voting rights.

Usually, these stock are issued/owned by individual that started or co-start the business.

The classified stock is used to ensure the company's founders maintain its control over the establish company even without owning the majority of the common stock.

Therefore, the individuals that have special voting rights owns a special class of stock called the classified stock.

Read more about classified stock:

<em>brainly.com/question/23881482</em>

6 0
3 years ago
some hotels ask their guests to rate the hotel's services as excellent, very good, good, and poor. this is an example of: group
tekilochka [14]

Some hotels ask their guests to rate the hotel's services as excellent, very good, good, and poor. This is an example of the ordinal scale.

What is ordinal scale and instance?

“Ordinal” indicates “order”. Ordinal information is quantitative information which have clearly happening orders and the distinction between is unknown. it could be named, grouped and also ranked. as an example: “How satisfied are you with our products?”

What is supposed by using ordinal scale?

The Ordinal scale includes statistical facts type in which variables are so as or rank however with out a degree of distinction between categories. The ordinal scale incorporates qualitative information; 'ordinal' that means 'order'. It places variables in order/rank, only allowing to measure the value as better or lower in scale.

What type of scale is ordinal?

The ordinal scale is the 2d degree of dimension that reports the ordering and ranking of records with out establishing the degree of version between them. Ordinal represents the “order.” Ordinal records is known as qualitative data or specific statistics. it is able to be grouped, named and additionally ranked.

Learn more about ordinal scale here :- brainly.com/question/13267344

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6 0
1 year ago
Which of the following statement shows the financial position of a business entity as on date
svlad2 [7]

Answer:

b) balance sheet

Explanation:

Balance sheet: The assets liabilities and stockholder equity are reported in the balance sheet. The accounting equation that is displayed  below is used in this:

Total assets = Total liabilities + stockholder equity

The balance sheet debit and credit side should always be equal and balanced.  

In addition, it is always prepared on the date specified plus it is also reflects the financial position, financial performance of the company.

8 0
3 years ago
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