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LB Corporation purchased a business car in June 2015 for $42,000. The car weighs 4,000 pounds and will be used 100 percent of the time in the business. Compute the largest depreciation deduction possible in 2015. No other property purchases were made during the year. (Consider bonus depreciation and the Section 179 deduction, if applicable.) Refer to the facts in Problem 41 and assume the business car purchased is an SUV weighing 8,000 pounds. Compute the largest depreciation deduction possible in 2015. (Consider bonus depreciation and the Section 179 deduction, if applicable.)
Discuss the current operating performance concept of income and the all-inclusive concept of income. Is comprehensive income consistent with either of the two? Discuss why or why not.
Prepare the required journal entries for Restin Co. Prepare the December 31, 2014, journal entry to record bad debt expense. Prepare the journal entry for Arness to record the sale.
Some people argue that a stock dividend is a way of appearing to give something of value to stockholders when in fact all they receive is a worthless piece of paper. Why do you think that some analysts make this argument? Do you agree with their posi..
on july- 1 2010 linux corporation a wholesaler of electronics equipment issued 45000000 of 10-year 10 bonds at an
Product A has a sales price of $16 per unit. Based on a 13,000-unit production level, the variable costs are $8 per unit and the fixed costs are $6 per unit. Using a flexible budget for 15,500 units, what is the budgeted operating income from Product..
Love Theatre Inc. owns and operates movie theatres throughout New Mexico and Utah. Love Theatre has declared the following annual dividends over a six-year period: 2009, $30,000; 2010, $90,000; 2011, $143,000; 2012, $180,000; 2013, $225,000; and 2014..
What is Head-Gear's net income for last year?- What is Head-Gear's break-even revenue?- Suppose Head-Gear wants to earn before-tax operating income of $153,320. How many units must be sold?
Patti and Pam are forming a partnership. Patti will invest a piece of equipment with a book value of $6,068 and a fair market value of $11,522. Pam will invest a building with a book value of $39,286 and a fair market value of $75,432. Illustrate ..
Why are stock options less appropriate for average workers?- why did start-up technology companies in Silicon Valley give stock options to most employees, not just CEOs?
How many years does it take for an annual payment of $1,750 to grow to $37,000 assuming k=3.85% compounded weekly?
Prepare two analyses of Kamp’s alternatives, one showing no explicit opportunity cost and the second showing the explicit opportunity cost of the decision to hold the present home.
On March 1, 2015, Vantage Services issued a 5% long-term notes payable for $15,000. It is payable over a 3-year term in $5,000 annual principal payments on March 1 of each year plus interest, beginning March 1, 2016. Each yearly instalment will inclu..
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