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On September 14, 2015, Jay purchased a passenger automobile that is used 75 percent in his accounting business. The automobile has a basis for depreciation purposes of $43,000, and Jay uses the accelerated method under MACRS. Jay does not elect to expense under section 179. a. Calculate Jay's depreciation deduction for 2015 assuming no bonus depreciation. b. Assuming the same business percentage (75 percent) in 2016, calculate Jay's depreciation deduction for 2016.
On January 1, 2013 the Mack Company issues $16,000,000 of 11% bonds dated January 1. Interest is payable semiannually on June 30 and December 31. The bonds mature in 4 years. The issue price of the bonds was $16,517,057.02 with no bond issue cost. Co..
At the end of the current year, the owners' equity in Durante Co. is $358,000. During the year, the assets of the business had increased by $66,000 and the liabilities had increased by $117,000. Owners' equity at the beginning of the year must have b..
In your own words, describe each of the four financial statements. Go online and find the most recent set of financial statements for a publicly traded company that you are interested in and explain what you learned about that company from explori..
What are monitoring activities - design a monitoring activity that would achieve this assurance objective.
The monthly payment on a 1,000,000 15 yr. mortgage at 6% is 8,438.57 per month. How much of that 1,000,000 on day 1 is deemed to be "current portion of mortgage payable"?
Puffy Shirt Company produced $4,000 puffy shirts during the month, Using Job order costing, determine the product unit cost for one puffy shirt based upon the following costs:
Never discuss ____ with an auto dealer. The true cost of an automobile to the dealer is. The first consideration in any negotiation is. Which of the following would most likely be considered a need rather than a want?
Calculate Required Rate of Return on ordinary shares - BHP Billiton Ltd. Calculate ordinary share valuation - single holding period for both the above compananies.
Computation of cash balance at the end using given data and Use the following information to calculate the change in the company's cash balance for the year
The following account balances are taken from the records of the Faraway Travel Agency:
Santana Rey created Business Solutions on October 1, 2015. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer.
The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $2,900 plus $35 per job, and the actual mobile lab operating expenses forFebruary were $4,530.
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