Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
In July of 2009, Mr. Mann, a sole proprietor who performs excavating services, purchased and put to use for business a piece of heavy equipment for $36,500. This piece of equipment was depreciated using the MACRS 150% DB method of depreciation over the useful period of 7 years. No salvage value was approximated and applied to the appreciable basis of this equipment. Freight and installation charges for this equipment totaled $1500. Mr. Mann sold this piece of equipment for $31,500 in June of 2011.
For this task, define capital asset and discuss the purpose of depreciation of assets, and why depreciation directly affects valuation of the asset at disposal. Based on the information provided, determine the amount of gain or loss Mr. Mann incurred through this transaction. Be certain to detail your calculations for depreciating the equipment, and how this impacts the gain or loss associated with the disposal of this asset. Explain how any gain on this asset will impact the tax obligation for Mr. Mann as the proprietor.
Describe the marketing processes that are necessary before an organisation can properly target the most lucrative part of a market.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
multiple choice questions related to ratio analysis1.the quick ratio is considered more useful than the current ratio
Using the balance sheet equation, show how each of the following six events would affect the balance sheet of Fernandez & Co. The sale of common stock to investors for $5 million in cash, the sale of a new bond issue to investors for $10 million cash..
The church did not keep a record of the amounts given nor the contributors, but the minister estimates that these gifts amount $10,000 in the current year. How should he treat these gifts?
How are foreign exchange gains and losses reported? Why do companies hedge? Why would some companies choose not to hedge?
Compute the break-even point in units and dollars and margin of safety in dollars Assuming no changes to selling price or costs
Why is it important to investigate both price (rate) and volume (efficiency) variances when rewarding employees for satisfactory work when performance evaluations are based on meeting budgets? What is some qualitative consideration that might be help..
If Department H had 528 units, 52% completed, in process at the beginning of the period, 5,251 units were completed during the period, and 582 units were 32% completed at the end of the period, what was the number of equivalent units of production fo..
Jackson, a friend of yours was running a retail business with some old friends. The rest of the shareholders were passive in the business. Prepare the financial statements about the given question.
Sunland Inc. has issued three types of debt on January 1, 2017, the start of the company’s fiscal year. (a) $12 million, 12-year, 13% unsecured bonds, interest payable quarterly. Prepare a schedule that identifies the following items for each bond: (..
CMU clinic is considering purchasing
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd