The annual IRS depreciation deduction is $40,375.
Depreciation deduction is an annual profits tax deduction that permits you to recover the value or other basis of sure property over the time you operate the property. Depreciation = (Cost of the property - Salvage value)/Serviceable lifetime; ($475,000 × 0.85)/10 = $40,375.
Depreciation is allotted with the intention to price an honest proportion of the depreciable quantity in each accounting period throughout the predicted beneficial life of the asset.
Depreciation is used on an earnings announcement for almost every business. It is listed as an expense, and so needs to be used each time an object is calculated for yr-quit tax functions or to decide the validity of the item for liquidation functions.
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Answer:
B)debit Interest Expense, $200; credit Interest Payable, $200
Explanation:
The adjusted journal entry for the interest expense is shown below:
Interest expense A/c Dr $200
To Interest payable $200
(Being the interest adjusted entry is recorded)
Since we have to record the interest expense from September 1 to September 30 which reflects 1 month and the computation of interest expense is shown below:
= Principal × rate × (number of month ÷ total number of months in a year)
= $40,000 × 6% × (1 ÷ 12)
= $200
Answer:
The Journal entries are as follows:
(i) In 2018,
Income Tax Expense A/c Dr. $24
Deferred Tax Assets A/c ($40 × 30%) Dr. $12
To Income Tax Payable ($120 × 30%) $36
(Being income tax and deferred tax recorded for 2018)
(ii) In 2019,
Income Tax Expense A/c Dr. $45
To Income Tax Payable ($140 × 30%) $42
To Deferred Tax Assets ($10 × 30%) $3
(Being income tax and deferred tax recorded for 2019)
Answer:
x = 993.32
Explanation:
Given:
p=10+5ln(3x+1) , where p = $50
50 = 10 + 5ln(3x+1)
50-10 = 5ln(3x+1)
40 = 5ln(3x+1)
40/5 = ln(3x+1)
8 = ln(3x+1)
3x + 1 = ![e^{8}](https://tex.z-dn.net/?f=e%5E%7B8%7D)
Using calculator
= 2,980.96
3x + 1 = 2,980.96
3x = 2,980.96 - 1
3x = 2,979.96
x = 2,979.96 / 3
x = 993.32
Therefore, 993.32 units would be supplied.