Answer:
depreciation expense is $235000
Explanation:
Given data
cost = $10,000,000
expenditures = $4,000,000
actual interest = $400,000
avoidable interest = $200,000
salvage value = $800,000
time = 40 year
to find out
depreciation expense
solution
we know that for 40 year
so depreciation expense in the 1st year is express as that given below
depreciation = cost + interest - salvage value / time
put here all value we get depreciation
depreciation = 10000000 + 200000 - 800000 / 40
depreciation = 9400000 / 40
depreciation = 235000
so depreciation expense is $235000
Answer: $6,000
Explanation:
As per IRS deduction rules in 2020, the maximum deductible IRA contribution for a person who does not participate in an employer-sponsored plan is $6,000.
That is therefore the maximum deductible that William can make in this scenario.
$52670 is the cost of goods sold for the month of March
<h3>What is
cost of goods ?</h3>
The carrying value of goods sold during a specific period is referred to as the cost of goods sold. Costs are assigned to specific items using one of several formulas, such as specific identification, first-in-first-out, or average cost.
The value of a company's cost of goods sold is determined by the inventory costing method used. When recording the level of inventory sold during a period, a company can use one of three methods: The average cost method, first in, first out (FIFO), and last in, first out (LIFO)
If COGS rises, net income will fall. While this change is advantageous for income tax purposes, the business will generate less profit for its shareholders. Businesses thus try to keep their COGS low so that net profits will
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