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Determining depreciation amounts by three methods) Southern’s Pizza bought a used Nissan delivery van on January 2, 2010, for $19,200. The van was expected to remain in service four years (30,000 miles). At the end of its useful life, Southern’s officials estimated that the van’s residual value would be $2,400. The van traveled 8,000 miles the first year, 8,500 miles the second year, 5,500 miles the third year, and 8,000 miles in the fourth year. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. (For units-of-production and double-decliningbalance, round to the nearest two decimals after each step of the calculation.) writing assignment spreadsheet Which method best tracks the wear and tear on the van? Which method would Southern’s prefer to use for income tax purposes? Explain in detail why Southern’s prefers this method.
Calculation of share of profits to partners - What will the profit and loss sharing ratios be after Delta's investment and determine if the subsidiary is operating in a highly inflationary economy
the bank notifies Wilma that if she pays back $75,000 immediately, they will forgive her $100,000 loan. What are tax implications to Wilma if she accepts the bank’s offer?
Interest upon explain how much of the mortgage can they deduct for regular tax purposes and where is it deducted if it is deductible ? Interest upon how much of the mortgage can they deduct for AMT tax purposes ??
Examine how corporations address non-liquidating distributions are addressed, determine the mistake most difficult to avoid, and make at least one recommendation for how to avoid the mistake you identified.
evaluate the amount of sales revenue dorough will report on the first 2012 quarterly pro forma income statement and create a cash receipts schedule for the first quarter of 2012
Evaluate for each plan the earnings per share of common stock, assuming that the income before bond interest and income tax is $2,000,000.
Computation of contribution margin Ratio, BEP, and margin of Safety and Find Aunt Pitty's breakeven level of sales revenues and determine auto Pitty's Margin of Safety in the most recent year?
Inventory at the beginning of the year was 20,400 units. The finished goods inventory at the end of each quarter is to equal 34% of the next quarter's budgeted unit sales. How many units should be produced during the first quarter?
Determine the average return for Treasury bills and the average annual inflation rate (consumer price index) for this period. (Do not include the percent sign (%). Round your answers to 2 decimal places, e.g. 32.16.)
How does BA account for “other current interest-bearing deposits”? Is that consistent with U.S. GAAP? What is amount of those investments that are maturing after three months, as of March 31, 2009?
The net income after taxes is $11,200 for FIFO and $9,800 for LIFO. The tax rate is 30%. The bonus rate is 20%. Explain how much higher is the manager's bonus if FIFO is adopted instead of LIFO?
Indicate the amount of income or loss from the partnership that should be reported by Wilson in 2011 on his Individual Income Tax Return. Compute Wilson's basis in his partnership interest at the end of 2011.
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