Business, 15.11.2019 06:31 brittanysanders

Doug purchased a new factory building on january 15, 1990, for $400,000. on march 1, 2017, the building was sold. determine the cost recovery deduction for the year of the sale; doug did not use the macrs straight-line method.
a. $0
b. $1,587
c. $2,645
d. $12,696
e. none of the above

Answers: 2

Show answers

Answers

Answer from: anon1899

e. None of the above

Explanation:

Purchase Value of Machinery = $4,000,000

Life of building = 30 years

Depreciation per year (assuming no 5% residual value)

= (4,000,000 - 200,000)/30

= $ 126,667

Dep. till December 31, 2016 = 126667*21 years

= $2,660,000

Dep. till March 1, 2017 from December 31, 2016

= (122667*2)/12

= $21,111

Total Dep. till March 1, 2017 = $2,660,000 + $21,111

= $ 2,681,111

Cost of recovery deduction = $4,000,000 - $2,681,111

= $ 1,318,889

Therefore, The cost recovery deduction for the year of the sale is $ 1,318,889

Answer from: Quest

In the 10th grade, i was teamed up in a group of four. our project was on modern history. altho it seemed super hard for many of us. patrick fleming took charge and showed us the understanding of this project. his leadership showed great ethics and it taught me, personally, how to others understand, not just to show them, but explain it thoroughly. and altho he was a great teacher i would have changed a few things. one being his attitude. many times he would get frustrated and impatient with the group. i think a leader i would have done exactly what he did but with much more patience and be there more to explain. such as lunch learning. and giving everybody a chance to try to explain it in their head.

Answer from: Quest

There are multiple different ways one can deal with stress at school or at home. for one, you could try exercising at home, which can relieve stress. there are also many different meditating techniques to that can one achieve a stress-free life. there are some meditation techniques, such as breathing in and out slowly every few seconds which you can do at school when you get stressed. i hope this !

Other questions on the subject: Business

Business, 21.06.2019 16:00, krissy452

b) a student tests 100 students to determine whether other students on her campus prefer soda brand a or soda brand b and finds no evidence that preference for brand a is not 0.5. later, a marketing company tests all students on campus and finds no difference. choose the correct answer below.

Answers: 1

continue

Business, 22.06.2019 23:50, natalie2sheffield

Mauro products distributes a single product, a woven basket whose selling price is $15 and whose variable expense is $12 per unit. the company’s monthly fixed expense is $4,200. required: 1. solve for the company’s break-even point in unit sales using the equation method. 2. solve for the company’s break-even point in dollar sales using the equation method and the cm ratio. (do not round intermediate calculations. round "cm ratio percent" to nearest whole percent.) 3. solve for the company’s break-even point in unit sales using the formula method. 4. solve for the company’s break-even point in dollar sales using the formula method and the cm ratio. (do not round intermediate calculations. round "cm ratio percent" to nearest whole percent.)

Answers: 2

continue

Business, 23.06.2019 00:30, kia9174

Anational survey asked people, "how often do you eat out for dinner, instead of at home? " the frequencies were as follows.

Answers: 2

continue

Business, 23.06.2019 02:20, FatCatcreator

Speedy auto repairs uses a job-order costing system. the company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 20,000 fixed overhead cost $ 350,000 variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate. 2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 590 direct labor cost $ 109 direct labor-hours used 6

Answers: 1

continue

You know the right answer?

Doug purchased a new factory building on january 15, 1990, for $400,000. on march 1, 2017, the build...