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Problem a. In January of 2019, Carol Brady is trying to decide if she shouldpurchase a new vehicle for her business, We Are Brady, Inc. Carol has asked you to calculate the amount of depreciation that she will be able to deduct for the following vehicle that she is considering purchasing. Assume that she will purchase the vehicle in August 2019 and assume that no other assets will be purchased in 2019.
If Carol purchases a new Porsche for $164,000, what is the maximum depreciation amount that Carol may deduct in 2019? Carol plans to drive the Porsche 78% of the time for business. Carol elects to take the additional first-year depreciation.
Problem b. If Carol, in April 2020, purchases a Ford Explorer (an SUV with GVW > 6,000 pounds and < 14,000 pounds) for $63,750, what is the maximum amount that Carol may deduct in 2020? Carol plans to drive the Explorer 100% of the time for business. Assume that no other assets will be purchased in 2020. Carol elects not to take the additional first-year depreciation!
In the month of September, Nixon Company sold 800 units of product. The average sales price was $30. What is the contribution margin in dollars, per unit, and as a ratio?
Let's assume that inventory is overstated by 3000 and the end of 2015. Assuming no other errors, how will this affect the income statements for 2015, 2016, and 2017?
Revenues for fiscal year ending June 30, 2018, was $4,450,000 and net income was $400,000. What were the Earnings per share for fiscal year ending June
Prepare journal entries for each of the transactions through August 31. Prepare all adjusting entries required on December 31. Show how all of the liabilities arising from these items are reported on the balance sheet at December 31. Complete require..
Kyle Corporation is owned 40% by Maria B, 30% by Mal G, and 30% by 400 other investors. Compute total federal tax liability for the year.
The partnership sells the property John contributed five (5) years later for $70,000. How much of the gain on the sale of the property is allocated to John
Prepare a statement of cost of goods manufactured for Widget Company for the year ended December 31, 2011 - Compute the economic order quantity and compute the order size that results in the minimum total order and carrying cost
rottino company purchased a new machine on october 1 2014 at a cost of 150000. the company estimated that the machine
Describing how a company you work for or know in the UAE tries to ensure that its employees and stakeholders behave ethically
Calculate capital balance of each partner in the partnership subsequent to the contributions. Prepare journal entry necessary to record partners contributions
bandar industries berhad of malaysia manufactures sporting equipment. one of the companys products a football helmet
Prepare a list of weaknesses in internal control (manual and computerized) and describe one or more ways to address each.
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