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Aleks [24]
2 years ago
11

In 2019, Felicity's business use of her vehicle fell to less than 50%. Regular MACRS depreciation had been used in prior years.

What method, convention, and recovery period must she use in 2019?
a) 150% declining balance (DB), the same convention as used in the first year of depreciation, ADS recovery period.
b) 200% declining balance (DB), HY, GDS recovery period.
c) Straight-line method (SL), mid-month, ADS recovery period.
d) Straight-line method (SL), the same convention as used in the first year of depreciation, ADS recovery period.
Business
1 answer:
Flauer [41]2 years ago
5 0

Answer:

(d) Straight-line method (SL), the same convention as used in the first year of depreciation, ADS recovery period

Explanation:

The straight line method is the best to use, the convention to be used is the same as what was used in the first year of depreciation and the recovery period in 2019 is the ADS recovery period.

To decrease annual deduction, it is standardized that ADL is used with straight line method with 31 plus years for a recovery period that is longer.

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Which of the following is deductible as interest on Schedule A? a.Interest on a loan for a 90-foot yacht (a qualified residence)
vodomira [7]

Answer:

Correct option is A.

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Explanation:

Assesses are permitted a conclusion for unmistakable intrigue paid or collected during the expense year. Sum and sort of derivation is reliant intentionally for which cash is obtained. Enthusiasm on credit for lease, business and eminence exercises is deducted for balanced gross pay. Enthusiasm on credit if there should be an occurrence of individual utilise like speculation intrigue, qualified home intrigue, contract intrigue prepayment punishments, intrigue identified with aloof action. Enthusiasm on credit used for buying resources producing charge excluded salary isn't deductible.

 

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3 years ago
During the current year, the Jules Company incurred the following product costs:Direct materials used in production $250,000Dire
ICE Princess25 [194]

Answer:

Option (D) is correct.

Explanation:

Given that,

Direct materials used in production = $250,000

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Manufacturing overhead = $245,500

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Ending Work in Process Inventory = $30,000

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3 years ago
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