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3 years ago

Military defense is funded by:

Business

1 answer:

kramer3 years ago

7 0

Answer:

A federal income tax dollars because the military defense is part of the federal branch

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On January 1, 2014, Borstad Company purchased equipment for $1,180,000. It is depreciating the equipment over 25 years using the

lord [1]

Answer:

Explanation:

a)Purchase cost - 1,180,000

Useful life - 25

Annual depreciation = 47,200

Timeline - Jan 1 , 2014 - 2019 = 6 years

Accumulated depreciation = 47200*6=283,200

Carrying value at 2019 = (1,180,000 - 283,200)= 896,800

B) Annual cash flow - 400,000

Annual cash outflow - (295,000)

Net cash inflow= 105,000

Net cash flow for 8 years = 105000*8 = 840000

Since the net cash inflow is less than the carrying value , there is an impairment.

PV value of the net cash inflow at 12% discount for 8 years = 521,602

Impairment loss = $375,198

At December 21.2019

2.) Debit impairment loss - $375,198

Credit equipment - $375,198

4 0

4 years ago

Neeta Landscaping Company provides lawn care services to a customer and immediately receives $45. Which of the following describ

lukranit [14]

Answer:

C. Credit Service Revenue for $45

Explanation:

The journal entry to record this given transaction is shown below:

Cash A/c Dr $45

To Service Revenue A/c $45

(Being the cash received is recorded)

At the time of receiving the cash, we debited the cash account and since the service is provided so we credited the service revenue. Both the accounts are to be credited and debited for $45

3 0

4 years ago

If you borrowed $8,700 at 6% for one year, what would your total interest be if you are charged simple interest?

vesna_86 [32]

Multiply the amount borrowed by the interest rate:

8,700 x 0.06 = 522

Answer: $522

4 0

2 years ago

The first stroke of a two-stroke engine represents a. intake stage/compression stage b. power c. compression d. power stage/exha

defon

a. compression

The engine is sometimes referred to as two-cycle engine where one power cycle is completed with two strokes (up and down movements) of the piston during only one rotation of the crankshaft. It used in-cylinder compression, as designed by Dugald Clerk.

3 0

4 years ago

New Hampshire adopted a tax law that in effect taxed the income of nonresidents working in New Hampshire only. Austin, a nonresi

Kryger [21]

Answer:

He was correct. It violates equal protection, as this only applies to non-residents.

Explanation:

From the question we are informed about New Hampshire which adopted a tax law that in effect taxed the income of nonresidents working in New Hampshire only. Austin, a nonresident who worked in New Hampshire, claimed that the tax law was invalid. In this case, He was correct since It violates equal protection, as this only applies to non-residents. Income Tax Act can be regarded as an act that governs tax charged which applies to income of individuals, body of individuals as well as famies. The Section 1 of this Act state that tax is an obligation that needed to be fulfilled to State Inland Revenue Service in as much the the individual resides there.

4 0

3 years ago