User Account

All Pages

How is the reported on a tax return

Assignment Help Accounting Basics
Reference no: EM132483088

Question - This year Kennedy purchased computer equipment for $3,000 and office furniture for $5,000 for her new office. If possible, she would like to elect to immediately expense the entire cost of these items using section 179. She also has an off-road vehicle used 100% in her business. She purchased it for $20,000 and placed it into service last year. She uses the 5-year 200% Double Declining MACRS cost recovery method and the Half Year Convention to depreciate the vehicle. Last year depreciation rate was 20% and the 2nd year rate is 32%. Ignore the application of any listed property limitations. How is the following reported on a tax return?

Reference no: EM132483088

Questions Cloud

Compute the net income to be earned : Compute the net income to be earned under each alternative.
Determine the contribution margin in dollars : Determine the contribution margin in dollars, per unit and as a ratio. (Round contribution margin and contribution margin per unit to 2 decimal places, e.g. 5.7
What is the unrecognized gain or unrecognized loss : For Rausch what is the unrecognized gain or unrecognized loss as of 1-1-2017? defined benefit pension plan that specifies annual year end retirement payments.
Value of a call option with the same strike price : To prevent arbitrage opportunities, what should be the value of a call option with the same strike price and expiration date?
How is the reported on a tax return : Last year depreciation rate was 20% and the 2nd year rate is 32%. Ignore the application of any listed property limitations. How is the reported on tax return
What is the market value of the firms equity : What is the market value of the firm's equity if number of outstanding shares do not change? need to round it to the answer in billions to 3 decimal places.
What was the interest rate as a percent : Suppose $60,000 is invested into an account where interest is compounded daily. After 30 years the balance is $125,854.
Determine in which building would recommend the sweet inc : Determine In which building would you recommend that The Sweet Inc. locate, assuming a 11% cost of funds? (Round factor values to 5 decimal places)
What documentation is available to prove the case : What documentation is available to prove the case? What skills are needed to employ or develop the fact-finding aspects of the case

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd