1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mashcka [7]
2 years ago
14

Timothy purchased a new computer for his consulting practice on October 15 th of the current year. The basis of the computer was

$4,000. During the Thanksgiving holiday, he decided the computer didn't meet his business needs and gave it to his college-aged son in another state. The computer was never used for business purposes again. Timothy had $50,000 of taxable income before depreciation. What is Timothy's total cost recovery expense with respect to the computer during the current year
Business
1 answer:
zaharov [31]2 years ago
8 0

Answer:

$0

Explanation:

Computer was sold during the same year which it is purchased. No depreciation is allowed in such a case.

In other word, there would be $0 total cost recovery as there is no Depreciation Expense given and in the same year the computer is given to Thomas son so no Depreciation Is allowed in this case.

You might be interested in
The total cost of Jurislon to be purchased in August is: Multiple Choice $1,839,600 $1,208,700 $1,014,300 $1,017,000
ivann1987 [24]

Answer:  $‭1,014,300‬

Explanation:

The company wants to maintain 20% of the next month's needs as ending inventory.

One Miniwap requires 2.5 kg of Jurision to be made.

Materials purchased is;

= Ending inventory + Materials used - Begining inventory

Ending Inventory;

= 20% of September Jurision

= 20% * 21,300 * 2.5

= 10,650 kg

Materials used

= 2.5 kg * August Miniwaps

= 2.5 * 22,600

= 56,500 kg

Materials Purchased = 10,650 + 56,500 - 10,800

= 56,350‬ kg

Cost of Jurision is $18 per kilo

= 56,350‬ * 18

= $‭1,014,300‬

3 0
3 years ago
Which type of business produces processed goods by changing raw goods into a more finished form?
Naddik [55]

Answer:

Bakeries are known for turning raw goods into things like bread

6 0
2 years ago
5. A firm currently produces its desired level of output. Its marginal product of labor is 400, its marginal product of capital
gizmo_the_mogwai [7]

Answer:

D.

Explanation:

Firms will hire more labor when the marginal revenue product of labor is greater than the wage rate, and stop hiring as soon as the two values are equal.

7 0
3 years ago
What is meant by management being multidimensional​
REY [17]

Answer:

In a multidimensional organization, the firm uses different criteria on several levels, reported at the same time, to track its performance.

Explanation:

Managers in a multidimensional organization have common goals. The management process prioritizes decision making

7 0
3 years ago
Read 2 more answers
In the state where Susan lives, drivers whom private insurance companies do not want to insure are placed in a common pool, and
deff fn [24]

Answer: Joint Underwriting Association

Explanation: An association which affords licensed drivers the opportunity to come together and provide coverage or compensation for vehicle owners or insurers is the Joint Underwriting Association. Members of the association are usually composed of drivers who have been unable to obtain insurance the regular or private insurance companies usually due to the risk exposure level of the driver's or car owners. The joint Underwriting Association requires that members pay shares fees and share of pool losses. However, they are usually more affordable than the standard insurance coverage offered by most private insurance companies and thus provides an insurance lifeline to high risk drivers.

3 0
3 years ago
Other questions:
  • Long Island Manufacturing Company developed the following information for its service​ departments, S1 and​ S2, and its producti
    8·1 answer
  • The main cause for the increase in corporate debt in america is
    7·1 answer
  • The payment for environmental services (psa) program in costa rica collects payments from the beneficiaries of ecosystem service
    11·1 answer
  • A 6% pay increase to your current $62,900 annual salary. "thanks, i look forward to the additional __________ per month."
    9·1 answer
  • Kendra is the new finance manager for a swiftly growing software company. She frequently works with other departments to assist
    6·1 answer
  • Pelican, Inc. had revenues of $395,000, expenses of $155,000, and dividends of $54,000 during the current year. Based on the giv
    13·1 answer
  • A company set up a petty cash fund with $800. The disbursements are as follows:
    14·1 answer
  • Discuss the six HRM practices from which companies can choose for implementing their strategy. Illustrate by specific examples.
    5·1 answer
  • Suppose we have the following information concerning the printed magazine and digital magazine subscription markets:
    10·1 answer
  • A natural experiment is a chance occurrence that mimics a randomized controlled trial. In order to analyze causal effects from n
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!