Answer:
$42,530
Explanation:
The computation of cost basis for the delivery van is shown below:-
Cost basis for the delivery van = Purchase price + Shipping cost + Paint + Sales tax
= $37,500 + $850 + $1,480 + $2,700
= $42,530
Here the shipping cost, paint, sales tax is business preparation cost. So, for computing the cost basis of delivery van we simply added the purchase price, shipping cost, paint and sales tax.
Answer: beg book value +the salvage value) / 2.
(the sum of annual average book values) ÷ asset’s life
(beg book value +the end book value) ÷ 2.
Explanation:
Depreciation is simply when an asset begin to wear and tear and thereby its value is reduced.Straight line depreciation is calculated when the difference between the cost of an asset and the expected salvage value is divided by the number of years it is projected to be used.
Using this method, the annual average investment can be calculated as:
• beg book value +the salvage value) / 2.
• (the sum of annual average book values) ÷ asset’s life
• (beg book value +the end book value) ÷ 2.
Answer:
- Taxpayers can use a software program for assistance in entering the required information and the tax calculation.
- Taxpayers can avoid delayed returns and ensure quicker processing and faster refunds.
Explanation:
E-filing is a shorter version of electronic tax filing. It is a method for filing tax returns via the internet. The taxpayer does not fill and submit any hard-copy forms.
In E-filling, the taxpayer fills the required information through the tax authority's website. They need internet connectivity and a computer to access the website or portal. The tax authority usually has customized programs that make e-filing easy.
E-filing is quick and convenient. It saves the taxpayer the trouble of delivering or sending tax documents to the tax authority's offices. Information submitted is captured and stored in the systems immediately. There are quick references, and records don't get lost, which makes refund processes faster.
Answer:
The correct answer is letter "A":
Managers should be held responsible for only actual revenues and actual costs and not for standard revenues or standard costs.
Explanation:
Standard revenues and costs in a company are those calculated after several years of operations. It measures an approximate of how much profits the organization could earn and how much is needed to keep the operations going. Managers should only be evaluated on the actual profits and costs incurred in the firm since only with them they have control.
Answer: Contract manufacturing.
Explanation:
Contract manufacturing is the outsourcing of some production activities that were formerly done by the producer to a third party. An organization may outsource certain parts for a product.
Contract manufacturing is the practice of giving out part of a work to outside sources rather than completing all the work within the company. It results in lower expenses and costs.
