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On June 26, 2004, Elaine purchased and placed into service a new computer system costing $8,000. The computer system was used 80 percent for business and 20 percent for personal use in both 2004 and 2005. Elaine claimed only regular MACRS depreciation. In 2006, the computer system was used 45 percent for business and 55 percent for personal use.
Compute the depreciation deduction for the computer system in 2006 and the cost recovery recapture.
Assume that in 2004, Elaine had instead expensed under Section 179 the cost of the computer system. Compute the cost recovery recapture in 2006.
Variable costs as a percentage of sales for Leamon Inc. are 75%, current sales are $600,000, and fixed costs are $110,000. How much will operating income change if sales increase by $40,000?
The Fancy Umbrella Company makes beach umbrellas. The production process requires 3 square meters of plastic sheeting and a metal pole. The plastic sheeting costs $0.50 per square meter and each metal pole costs $1.00.
Suppose you have been employed into a new firm to oversee the accounting department. Explain what type of financial reports would you expect to see in your department?
Describes several ways to increase the value of an organization. Which of these might be applicable to an organization and why? Please provide a reference.
Hughey Co. as lessee records a capital lease of machinery on Jan. 1 2011. The seven annual lease payments of $350,000 are made at the end of the year. The present value of the lease payments at 10% is $1,704,000.
Conduct online research for a large company to see if you can find their code of conduct. What influence do you believe these codes of conduct have on the decision-making behavior of their members or employees?
Hometown Bank is determining the price for its newest mini debit card. The card can be used at any retail outlet with a swipe reader. No PIN number or signature is required.
At Flint Company's break-even point of 9,000 units, fixed costs are $180,000 and variable costs are $540,000 in total. The unit sales price is:
The Red Car Division has excess capacity and the 1,000 units can be produced without interfering with the current outside sales of 5,000. The 6,000 volume is within the division's relevant operating range.
What was the interest rate used to value the lease? What is the annual lease payment? What was the present value of the lease obligation on January 1, Year 6?
Compute Welch's gross pay, payroll deductions, and net pay for the full year 2012. Round all amounts to the nearest dollar. Compute United's total 2012 payroll expense for Welch.
Purchasing at the EOQ recommended level, what are the relevant total costs?
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