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m_a_m_a [10]
3 years ago
10

Ken Larch is a tailor. He bought two industrial sewing machines from his father. He placed both machines in service in the same

year he bought them. All of the following are true except:________.A. The sewing machines do not qualify as section 179 propertyB. Ken cannot claim a section 179 deduction for the cost of these machinesC. Ken can claim a partial section 179 deductionD. The asset must be used at least 50% of the time for business in the first year it is placed in service to qualify for a section 179 deduction
Business
1 answer:
masha68 [24]3 years ago
3 0

Answer:

A.The sewing machines do not qualify as section 179 property

Explanation:

Section 179 deduction is available for machinery bought and used in the business in the same year provided the usage in business is more than 50% and upper limit on deduction is $ 500,000. However, a partial deduction is possible in case cost of machine exceeds $500,000. Hence, the first option in the given question is not true.

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Jacob wants to invite 20 friends to his birthday, which will cost his parents $250. If he decides to invite 15 friends instead,
ehidna [41]
The answer would be 187.50

250 $ for 20 friends would be $12.50 per friend. So, 12.5 x 15 = $187.50
4 0
2 years ago
Alpha Industries is considering a project with an initial cost of $9.7 million. The project will produce cash inflows of $1.67 m
vovikov84 [41]

Answer:

$660,000

Explanation:

WACC = [wD * kD * (1 - t)] + [wE * kE]

WACC = [(0.77 / 1.77)*6.12%* (1 - 0.40)] + [(1 / 1.77)*11.61%]

WACC = 1.60% + 6.56%

WACC = 8.16%

Present value of annuity = Annuity*[1-(1+interest rate)^-time period]/rate

Present value of annuity = $1.67*[1-(1.08156745763)^-9]/0.0816

Present value of annuity = $1.67*6.206374532

Present value of annuity = $10.36 million

NPV = Present value of inflows - Present value of outflows

NPV = $10.36 million - $9.7 million

NPV = $660,000

5 0
3 years ago
On December 31, the balance in the office supplies account is $1,300. A physical count shows $510 worth of supplies on hand. Req
madam [21]

Answer:

Date                    Account title                                               Debit          Credit

December 1        Office Supplies Expense                           $790

                            Office Supplies                                                             $790

Explanation:

Office supplies is an asset but when it is used it should be debited to the office supplies expense account because it becomes an expense that should be catered for in the Income statement.

The office expense that is used for the year is:

= Book balance - Physical inventory

= 1,300 - 510

= $790

3 0
2 years ago
What did the Supreme Court decide about the use of prayers to open government meetings in 2014?
harkovskaia [24]

Answer:

The Supreme Court decided that the use of prayers to open government meetings in 2014 is constitutional and that such meetings can hold, even if it clearly favors one faith, provided that there is no attempt to harass, intimidate, or coerce other religion believers.

5 0
3 years ago
The disadvantage of owning a mutual fund that invests in common stocks is the risk of loss of ___.
Ludmilka [50]

Answer:

"Principal" Since the value of common stock could decline to zero, investors do carry the risk of losing their entire principal. That risk is greatly reduced when investing in bonds, because if you hold a bond to its maturity date, you will at least get back the par value ($1000) of the bond.

Hope this helps :) -Mark Brainiest Please :)

5 0
3 years ago
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