Answer:
$5,600
Explanation:
Since 179 permits to elect to write off up to $500,000 of the cost of acquisition of tangibles to personal property during the first year. That amount cannot be capitalized and depreciated. Some hindrance of Section 179 which we have as: assuming the the value of assets increased by $2 million, in such situation excess of $2 million is removed from writing off the
amount. Another is if the amount can't be written off if more than the taxable income is lower than the written off amount and then it will be moved to the next year. McKenzie purchased assets for $212,000 and used section 179 deductions. It is required to compute McKenzie’s taxable income was $5,600 before the use of the 179 deductions. The Section 179 expense of $212,000 is less than $2 million, the entire $212,000 is eligible for the deduction. The deduction is limited to the taxable income of the current year which is $5,600.
We are tasked to determine whether there is a gain or a loss. The solution is shown below:
Cost basis: $21,750 / 500 shares = $43.5
For 100 shares, we have:
Cost basis for 100 shares = $43.5 * 100 = $4350
Perform subtraction:
Gain or Loss = Sales - Cost
Gain or loss = ($49.50 *100 shares) - $4350
Gain or loss = $4950 - $4350
Gain or loss = $ 600
The answer is $600 (it is gain!).
The main purpose of performance appraisal is to furnish feedback to organization members about how they can become more productive and useful to the organization in its quest for quality.
Therefore option C is correct
<h3>What is Performance appraisal?</h3>
Performance appraisal can be described as the periodic and systematic evaluation of the job performance of an employee and its subsequent documentation documented and evaluation in other to provide verifiable evidence to the management of an organization on the strengths and weaknesses of its employees.
The idea of performance appraisal should be viewed as a career enhancing prospect. Managers should endeavor to appraise their staff truthfully and honestly in other to bring about a healthy working environment.
Learn more about Performance appraisal at brainly.com/question/7595736
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The government owns the land and capital in such an economy. A.
Answer:
$8,000
Explanation:
Given that
Profit = $1,200
Cost = 85% of sales
Profit = 15%
We know that
Sales = Cost + Profit
= 85% + 15%
= 100%
So sales percentage is 100%
Now we use the unitary method to find out the extra sales which would be
= Profit × sales percentage ÷ profit percentage
= $1,200 × 100% ÷ 15%
= $8,000