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faust18 [17]
3 years ago
11

Don operates a taxi business, and this year one of his taxis was damaged in a traffic accident. The taxi was originally purchase

d for $15,500 and the adjusted basis was $1,050 at the time of the accident. The taxi was repaired at a cost of $2,975 and insurance reimbursed Don $757 of this cost. What is the amount of Don's casualty loss deduction
Business
1 answer:
Leno4ka [110]3 years ago
4 0

Answer:

$293

Explanation:

Calculation for the amount of Don's casualty loss deduction

Using this formula

Casualty loss deduction amount=Adjusted basis -Insurance reimbursed

Let plug in the formula

Casualty loss deduction amount=$1,050- $757

Casualty loss deduction amount=$293

Therefore the amount of Don's casualty loss deduction will be $293

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Maxim has already spent $28,000 to manufacture a hamster food product called Green Health. Maxim currently has 10,000 bags of Gr
andriy [413]

The incremental income to process further for Maxim company equals to $30,000.

<h3>What is an Incremental income?</h3>

This means the profit that a business gains from an increase in sales.

It is gotten when there is an additional revenue generated by a certain product.

The Net income to be generated from Green health equals:

= Revenue - Cost

= $90,000 - $28,000

= $62,000

The Net income to be generated from Premium Green equals:

= Revenue - Extra cost

= $98,000 - $6,000

=$92,000

<h3>What is Incremental income to Process further?</h3>

= $92,000 - $62,000

= $30,000

Read more about Incremental income

<em>brainly.com/question/1446002</em>

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8 0
2 years ago
Emily's trust fund has a value of 100,000 on January 1, 1997. On April 1, 1997, 10,000 is withdrawn from the fund, and immediate
mafiozo [28]

Answer:

(a) Dollar Weighted Rate of return = 0.27

(b) Simple interest-based rate of return = (115000- 100000)/ 100000 = 0.15

(c) Since, the data or investment portfolio of Emily is of one year, we can calculate the money weighted rate of return but time weighted rate of return couldn’t be calculated.

Explanation:

For (a) Dollar Weighted Rate of return = 0.27

<em>Calculations:</em> 115000 = ((-10000) *(1 + r) ^ ((365-90)/365)) + 100000*(1+r)

So, using calculator we found r= 0.27  

Here we’ve equated the value of portfolio at Jan 1, 1998 with Value of portfolio on Jan 1, 1997 and using the formula for money weighted average rate of return we’ve found the rate of return. Since, we are taking annual money weighted average rate of return, so we don’t include the value of July cash flow, i.e. $5000.

For (b) Simple interest-based rate of return = (115000- 100000)/ 100000 = 0.15  

Since, the distribution of deposits and withdrawals is uniform, so it is simply the newer value minus original value divided by the original value and is most likely to percentage calculation.

(c) Since, the data or investment portfolio of Emily is of one year, we can calculate the money weighted rate of return but time weighted rate of return couldn’t be calculated.

4 0
3 years ago
A JIT system uses kanban cards to authorize movement of incoming parts. In one portion of the system, a work center uses an aver
ycow [4]

Answer: 4 containers

Explanation:

The formula used to get the number of containers that are needed will be:

N = DT(1+X)/C

where,

N = total containers

D = planned usage rate used by the work center = 111 parts per hour

T = average waiting time = 100 minutes = 100/60 hours = 1.67 hours

X = inefficiency factor = 0.21

C = capacity of standard container = 5 dozens = 5 × 12 = 60 parts

N = DT(1+X)/C

N = (111 × 1.67)(1 + 0.21)/60

N = (185.37 × 1.21)/60

N = 224.2977/60

N = 3.738

N = 4 approximately

4 containers will be needed

4 0
3 years ago
At the high level of activity in November, 12000 machine hours were run and power costs were $20000. In April, a month of low ac
Salsk061 [2.6K]

Answer:

$6,500

Explanation:

For computing the estimated fixed cost, we have to determine the variable cost per hour which is shown below:

Variable cost per hour = (High power cost - low power cost) ÷ (High machine hours - low machine hours)

= ($20,000 - $11,000) ÷ (12,000 hours - 4,000 hours)

= $9,000 ÷ 8,000 hours

= $1.125

Now the fixed cost equal to

= High power cost - (High machine hours × Variable cost per hour)

= $20,000 - (12,000 hours × $1.125)

= $20,000 - $13,500

= $6,500

4 0
3 years ago
Mary is introduced to three new people at a party. Later, however, she cannot remember the names of any of her new acquaintances
MissTica

Answer:

She never encoded the names into long-term memory is the correct answer.

Explanation:

7 0
2 years ago
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