Which of the following statements is incorrect?

Weston acquires a new office machine (7-year class asset) on August 2, 2017, for $75,000. This is the only asset Weston acquired

Arturiano [62]

Answer:

The total cost recovery for 2017 is $38,838.75 and The total recovery cost for 2018 is $6457.031

Explanation:

for 2017:

additional first year depreciation = $75,000*50%

= $37,500

using 7-year MACRS mid quater converntion, the depreciation % for quater 4 is 3.57%

additional MACRS cost recovery = ($75,000 - $37,500)*3.57%

= $1338.75

total cost recovery for 2017 = $37,500 + $1338.75

= $38,838.75

for 2018, additional first year depreciation is $37,500

using 7-year MACRS mid quarter convention for next year, the depreciation % fpr quarter 4 is 27.55%

the machine sold in september , so it was used for two full quarters and half third quater

the recovery is computed for 2.5 over 4 quarters of a year

additional MARSC cost recovery = $37,500*27.55%*(2.5/4)

= $6457.031

total recovery cost for 2018 is $6457.031

Therefore, The total cost recovery for 2017 is $38,838.75 and The total recovery cost for 2018 is $6457.031

7 0

3 years ago

eating small amounts of sweet desserts can satisfy one's urge or craving for healthier food. true or false?

krok68 [10]

Answer:

I think eating healthier food would be better. Eating sweet desserts would be healthier than eating a lot, but you should still cut down and eat healthier foods. False

Explanation:

6 0

3 years ago

As a newly appointed human resource manager, what is MOST necessary to have an understanding of that provides the basis for all

Artyom0805 [142]

Answer:

Letter A is correct. <u>Organizational objectives.</u>

Explanation:

A human resources manager is responsible for meeting a company's staffing needs and activities, such as the recruitment and selection process, training and development, development of policies and procedures, performance management, salaries and benefits.

For this, it is necessary to consider organizational objectives as a basis for assisting in the process of developing the function. An effective human resources manager, must base all his decisions prioritizing the strategic plan of obtaining objectives and goals of a company, ensuring that there is the correct allocation of resources and trained and motivated personnel to increase business productivity and generate a climate positive organizational structure in order to achieve organizational goals.

7 0

3 years ago

Amount Number of units sold 11,000 Selling price per unit $ 16 Variable selling expense per unit $ 1 Variable administrative exp

german

Traditional income statement : Net operating income $47,000

Contribution income statement : Net operating income $25,000

1.

Traditional Income Statement

Sales (11,000 x $16) $176,000

Cost of goods sold

(9,000 + 87,000 - 25,000) ($71,000)

Gross Margin 105,000

Selling and administrative expenses:

Selling expense

(11,000 x 1) + 22,000 $33,000

Administrative expense

(11,000 x 1) + 14,000 $25000

Net operating income $47,000

2.

Contribution format income statement

Sales $176,000

Variable expenses:

Cost of goods sold 71,000

Selling expense 11,000

Administrative expense 11,000 ($93,000)

Contribution Margin $83,000

Fixed expenses:

Selling expense 33,000

Administrative expense 25,000 (58,000)

Net operating income $25,000

Learn more about preparation of income statement here : brainly.com/question/24498019

3 0

2 years ago

State any four uses of funding in a new business

miss Akunina [59]

Answer:

Some of these funding options are for Indian business, however, similar alternatives are available in different countries.

Bootstrapping your startup business
Crowdfunding As A Funding Option
Get Angel Investment In Your Startup
Get Venture Capital For Your Business

7 0

3 years ago