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Yakvenalex [24]
3 years ago
11

Jasper is a self-employed businessman. on march 5, 2015 he purchases a personal computer for use at his home. he uses the comput

er for personal purposes 50 percent of the time and for business use the remainder of the time. the computer cost $2,300. jasper wants to claim the maximum amount of depreciation possible for 2015, including the election to expense, if it is available. what is the amount of depreciation that jasper should claim on the computer for 2015?
Business
1 answer:
g100num [7]3 years ago
7 0
Jasper could most certainly claim depreciation on the computer that is, 50% of it plus 50% of the purchase price and I know because I am self-employed too and I know that legitimate office expenses like a new printer, printer paper etc can be claimed according to the amount used for the business.
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Assume the following unadjusted account balances at the end of the accounting period for Chocolate Brownie Palace: Accounts Rece
ANEK [815]

Answer:

Bad debt expenses = $4,000

 

Explanation:

                                                       Debit       Credit

Bad debt expense                          $4,000  

Allowances for doubtful accounts                $4,000

Workings

= $5,000 of receivables - $1,000 of Allowance for doubtful account

= $4,000

5 0
3 years ago
Why are closing costs a one time fee?
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3 years ago
Senate Inc. is considering two alternative methods for producing playing cards. Method 1 involves using a machine with a fixed c
photoshop1234 [79]

Answer:

24,000 units

Explanation:

We know,

According to the contribution margin approach,

Operating Income (EBIT) = Sales - Variable cost - Fixed cost

or, EBIT = (Price x Quantity) - (Quantity x VC per unit) - Fixed cost

As there are two methods,

Method 1, Variable cost = $1.00/unit, Fixed cost = $17,000

Method 2, Variable cost = $1.50/unit, Fixed cost = $5,000

According to the Question, as both methods will yield same EBIT at the same output levels,

Method 1 EBIT = Method 2 EBIT

or,  (Price x Quantity) - (Quantity x $1.00) - 17,000 = (Price x Quantity) - (Quantity x $1.50) - $5,000

or, (Quantity x $1.50) - (Quantity x $1.00) = $(17,000 - 5,000) [Deducted (price x quantity from both the sides]

or, $0.50 x Quantity = $12,000

or, Quantity = $12,000/$0.50

Hence, Quantity = 24,000 units

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4 0
2 years ago
Hampton Corporation has a beta of 1.3 and a marginal tax rate of 34%. The expected return on the market is 11% and the risk-free
vekshin1

Answer: 13.1%

Explanation:

Using the Capital Asset Pricing Model, the expected return is;

Expected Return = Risk Free rate + beta(expected return - risk free rate)

= 4% + 1.3( 11% - 4%)

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3 years ago
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<span>agreement to modify an existing contract would be the answer</span>
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