User Account

All Pages

What is the amount of depreciation of the assets

Assignment Help Accounting Basics
Reference no: EM132661266

Question - On 1 April 2018 Ray had a set of pooled tools with a tax adjusted value of $6,000. In October 2018, Ray broke some of these tools (previously acquired for $240), acquires some new tools for $620 and sold some tools for $300. The pool depreciation rate is 40% Diminishing Value. What is the amount of depreciation of the assets which Ray can claim as deduction for the 2019 income year?

a. $2,528

b. $2,464

c. $2,432

d. $2,400

Reference no: EM132661266

Questions Cloud

Difference between demand-pull and cost-push inflation : (a) Illustrate and explain using two (2) diagrams, the difference between demand-pull and cost-push inflation;
What metrics or strategies should you use : What metrics or strategies should you use to determine which stakeholders are most useful to engage with? What strategies are most effective when interacting.
Compute direct labor rate and efficiency variance : Topper Toys, Compute Direct labor rate and efficiency variance. Discuss brief explanation of the possible causes of each variance.
Describe the hints for making meals more enjoyable : The U.S. population is aging, which brings unique nutritional needs and concerns for older adults. Using the knowledge you have gained this semester.
What is the amount of depreciation of the assets : The pool depreciation rate is 40% Diminishing Value. What is the amount of depreciation of the assets which Ray can claim as deduction for the 2019 income year
Explain basic types of labor processes : The text says that the economy may be thought of as a collection of labor processes. What are the two basic types of labor processes?
Data understanding and preparation : Data understanding and preparation - Descriptive stats on data, overview of the format and types. Explain what you did to clean up the data, what you found
Determining trade and capital intensity in industry : You are about to travel to meet your partner country's Minister of trade, You want to know better how your factor abundance is determining
How forecast revenues for the estee lauder companies : Given the sales forecast and costs, how should forecast the working capital of The Estee Lauder Companies? How forecast revenues for The Estee Lauder Companies

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