User Account

All Pages

What taxable gain must be reported on the sale of the truck

Assignment Help Business Economics
Reference no: EM131850944

The Johnson Company bought a truck costing $29,000 two and a half years ago. The truck's estimated life was four years at the time of purchase. It was accounted for by using straight line depreciation with zero salvage value. The truck was sold yesterday for $19,000. What taxable gain must be reported on the sale of the truck?

Reference no: EM131850944

Questions Cloud

Show journal entry to record incurrence of direct labor cost : Pinkney Corporation has provided the following data concerning its direct labor costs for November: Required: Show the journal entry to record the incurrence.
What is the maximum level of accounts receivable : a. What is the maximum level of accounts receivable that ALei can carry and have a 35?-day average collection? period?
How are present values affected by interest rates : Find the following values. Compounding/discounting occurs annually. How are present values affected by interest rates?
What is the bond annual yield to maturity : In the market, this bond currently sells for $1,194.35. What is the bond's annual yield to maturity?
What taxable gain must be reported on the sale of the truck : It was accounted for by using straight line depreciation with zero salvage value. The truck was sold yesterday for $19,000.
What rate have sales been growing : Sawyer Corporation's 2015 sales were $12 million. Its 2010 sales were $6 million. At what rate have sales been growing?
How many swing sets would have to be sold for the firm : The variable cost per swing set is $500. The selling peice of the swing set is $1,000. How many swing sets would have to be sold for the firm to break even?
How does theology provide foundation for biblical leadership : How did the theologies of Luther, Calvin and Bonhoeffer influence and impact their leadership? How does theology provide the foundation for biblical leadership.
Million shares of its stock in exchange : If Harrods offers 1.2 million shares of its stock in exchange for the 2 million shares of Selfridge, what will the stock price of Harrods be after

Reviews

Write a Review

Business Economics Questions & Answers

  What is the atc at that output

Illustrate what output does the low point of ATC occur and illustrate what is the ATC at that output. Explain how your calculations.

  Quantity demanded for good

Alex has a utility function U=3 sqrtXY The price of good X is $1, the price of good Y is $2, and her income is $100. Her quantity demanded for good X is ___ Her quantity demanded for good y is___

  The optimal solution that allowable increase

Suppose to have a linear programming problem. It is known from the optimal solution that allowable increase of the b1 is equal to 30. Initial value of b1 is 40.

  Price of capital in the restaurant industry decreases

Suppose the price of capital in the restaurant industry decreases. Explain how the decrease in the price of capital affects the demand for labor in this industry. Be sure to explain both the scale and substitution effects.

  To curb the influence of that powerful lobby

Voters in the State of California decide that the tobacco industry is having too great an impact on the outcome of local referenda limiting smoking in public places.

  What is its profit maximizing price and quantity

A monopolist faces the following demand curve: P = 100 - 3Q, its total cost is given by: TC = 100 + Q2 and its marginal cost is given by: MC = 2Q. If it is a single price monopolist, what is its profit maximizing price and quantity? Show your work. H..

  Illustrate the marginal revenue to increase in the quantity

Find total revenue for quantity equal to 10,000, 20,000, and so on. Illustrate what is the marginal revenue for each 10,000 increase in the quantity sold.

  Economic efficiency requires that natural monopolys price

Economic efficiency requires that a natural monopoly’s price be

  Federal and state governments to take control

Will insurance companies relinquish their role as for-profit healthcare payors and administrators, and allow the federal and state governments to take control?

  Uses difference-in-difference identification strategy

Card and Krueger's paper (AER 1994, "Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania") uses a difference-in-difference identification strategy to identify the causal effect of a minimum wage increas..

  Lead to right shift in the supply curve of? cotton

Which of the following is likely to lead to a right shift in the supply curve of? cotton?

  Qgiven the following annual information about a

q.given the following annual information about a hypothetical country answer questions a through d.billions of

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